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7.9. Operations Management

Further to the above, the Manager is also responsible for all the operational duties and decision that needs to be taken by the Fund such as:

1.  appointment of External Auditor, Depositary, Administrator, Credit Institution; 

2.  payment of running expenses of the Fund such as Administration fees, Audit fees and other related fees;

3.  acceptance of subscriptions and redemptions of the Investors of the Investment Compartments; 

4.  any other responsibility and duty related to the operational side of the Fund such as:

5.  ensure that valuation policies and procedures are established and implemented;

6.  ensure and verify that the general Investment Policy, strategy and risk limits of each Investment Compartment are properly implemented; 

7.  approve and review the adequacy of the internal procedures for undertaking investment decisions, so as to ensure that such decisions are consistent with the approved Investment Policy of each Investment Compartment; 

8.  approve and review the risk management policy; 

9.  avoid conflicts of interest;

10.  review and evaluate the work carried out by the Internal Auditor;

11.  discuss internal audit issues and adopt strategies to improve the operation of the internal audit mechanism;

12.  determine the remuneration of staff and senior management of the Fund.