.
They do not have maturity dates and are renewed at the end of each trading period
They are usually complex
They are bought with single premiums
They are exposed to counterparty and liquidity risks
Total value of the assets in the fund at any point in time
total value of the assets in the fund less total liabilities
based on the difference between the highest and lowest price of the day
based on the highest price of the day
Portfolio analyses
data and quotation services
research analyses
all of the above
Structured ILPs are less regulated
The legal owner of the assets in the ILP fund is the insurer
unit trusts come with a death benefit but not for a structured ILP
Structured ILPs do not carry as much risk as would unit trusts
A list of the ILP sub-funds available for investment
risk information
potential accumulation policy value
return on the ILP sub-fund over the last 1,3,5, 10 years since inception of the ILP sub- fund
Key risks of the investments
Frequency of valuations
Fees and charges payable
Disclaimers
Number of units held at the end each month
number and value of units deducted during the statement period
risk of the investment
pricing basis of units
Across different asset classes
across different geographical locations
using negatively correlated securities
all of the above
give the policy owner the maximum upside of the investment returns on his money
maintain a degree of certainty of stability in the non-guaranteed benefits to policy owners
give the policy owner a limited downside of the investment returns on his money
to an average return to policy owners
Initial sales charges and redemption fees
custodial expenses and investment management fees
auditing fees
legal fees
the highest number of purchases of underlying investments of a fund
the lowest number of sales of underlying investments of a fund
the largest volume of transactions of underlying investments of a fund D. the lower of the purchases or sales of underlying investments of a fund
the lower of the purchases or sales of underlying investments of a fund
Some investments are issued in large sizes, making it difficult for investors to have the financial means
the portfolio is spread out in too many different assets and asset classes which investors may not be knowledgeable about
there is an element of opportunity costs as non-performing assets in the portfolio reduces the gains from those that are performing well
there are transaction costs to be incurred
They have the same risk profile as ordinary bonds
The regular payouts, at the stated level, are made annually to provide the investor with an annual income
The capital invested is guaranteed at maturity
The insurer is not obligated to make good at maturity if the investments don’t deliver
Equities
fixed income instruments
options
swaps
There must be at least 4 pages, including glossary and diagrams
The text should be a font size of at least 10-point Times New Roman
Disclaimers must be included
Technical jargon should be used for greater clarity
Offer-to-bid basis
bid-to-offer basis
offer-to-offer basis
lowest bid basis
Financial Advisers Act (Cap 110)
Insurance Act (Cap 142)
Code on Collective Investment Scheme
All of the above
ILP providing regular payments
ILP linked to index returns
ILP with capital appreciation potential
ILP with term insurance component
The number of times that a dollar of assets is reinvested in a given year
The price at which units are subscribed
The ratio of the sub-fund’s operating expenses to the daily average NAV
Total value of fund assets, less total liabilities
Newly launched funds
Funds that are going to be terminated
Funds reaching maturity soon
Poor performing funds
By auditors
With due care and good faith
By due diligence
By fund managers
Potential of funds
Minimum holding amount
Pricing basis
Dealing deadline
Several layers of fees and charges
Loss of investment control
Opportunity cost
Inaccessibility to bulky investments
Liquidity risk
Concentration risk
Credit risk
Guarantee capital risk
Access to bulky investments
Fees and charges
Economies of scale
Portfolio diversification
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