Listco AM Services Sample Clauses

Listco AM Services. The Proposed Annual Caps for the Listco AM Services for the two years ending 31 December 2018 were determined with reference to (i) the estimated value of assets of AM Clients (including CMBCI Group) to be managed by the Group of HK$4.2 billion and HK$4.2 billion for the two years ending 31 December 2018, respectively, which are based on the amount of assets (including Managed Proceeds) that CMBCI Group indicated to appoint the Group as asset manager to manage, of which the value of the Managed Proceeds are expected to amount to HK$3.6 billion and HK$3.6 billion for each of the two years ending 31 December 2018, as CMBCI Group indicated it will maintain the same AM Related Products throughout the corresponding period; (ii) the expected average fee rates in respect of the Listco AM Services, including the distribution fee of 0.25% and average management fee of 0.75%; (iii) in respect of the period for the year ending 31 December 2017, the Service Agreement is expected to cover a period of approximately three months; and (iv) no performance fees being received for the two years ending 31 December 2018 since no distributions is expected to be made during this period. As the distribution fee charged for the subscription of AM Related Products, which is at the rate of 0.25%, is payable as a non-refundable lump sum at subscription (notwithstanding only three months up to 31 December 2017) and every subsequent anniversary (ie. for the year ending 31 December 2018), it is expected that the maximum distribution fees charged for the year ending 31 December 2017 will be the same as the distribution fees charged for the year ending 31 December 2018. A Responsible Officer for type 1 regulated activity will, based on the basis for the Proposed Annual Caps disclosed above, monitor the annual caps for CMBCI Underwriting Referral Services. A Responsible Offer for type 9 regulated activity will, based on the basis for the Proposed Annual Caps disclosed above, monitor the annual caps for Listco AM Services. CMBCI has been a connected person of the Company since 31 May 2017. For the period from 31 May 2017 up to the date hereof, the historical transaction amount with CMBCI Group in respect of the Services was nil for Listco AM Services and nil for CMBCI Underwriting Referral Services.

Listco AM Services. Pursuant to the Service Agreement, the Group agreed to provide asset management services, investment advisory service and ancillary services to the AM Clients. Pursuant to the Service Agreement, China Minsheng Group agreed to provide distribution services to the Group for distributing the funds that are set up by the Group (the “Funds”). The scope of the Listco AM Services will be agreed and specified in the individual client agreement between the Group and the AM Clients and may include, inter alia, overseeing the operations of the investment portfolios, provision of investment policies and strategies and investment advisory services, making general investment decisions and monitoring the performance of the investment portfolio(s), distribution of the Funds and provision of administrative and management services to the investment portfolio(s). Pricing Basis The Group will charge the AM Clients management fees, advisory fees and performance fees for the AM Related Products, and China Minsheng Group will charge the Group distribution fees for distributing the Funds. The fees to be charged by the Group or China Minsheng Group for the Listco AM Services shall be in line with comparable market rates and be no less favourable to the Group than those charged to Independent Third Parties. Licensed representatives of type 9 regulated activity of the Group will make reference to at least three recent market comparables generally obtained from public sources, such as SFC’s website, to assess the fees to be charged by the Group, which will be reviewed by the Responsible Officer of type 9 regulated activity of the Group. Details of the payment and pricing terms of the Listco AM Services will be specified in the individual service contract and will be negotiated on an arm’s length basis between the Group and the relevant AM Clients and on terms no less favourable to the Group than those offered to and from Independent Third Parties.

Listco AM Services. Pursuant to the Service Agreement, the Group agreed to provide asset management services or ancillary services to CMBCI, its associates or any third parties who are deemed to be connected with the Company under Rule 14A.20 of the Listing Rules (the “AM Clients”). Such third parties include, inter alia, special purpose vehicles which are set up at the direction of the Group for the main purpose of transferring the funds from CMBCI Group and forming assets to be managed by the Group in accordance with the arrangement of the Group and CBMCI and its associates and thereby facilitating the Group’s provision of Listco AM Service to CMBCI and its associates. Such third parties will issue equity or debt securities or investment products arranged by the Group to CMBCI and its associates (the “AM Related Products”), and will procure the Listco AM Services for all the proceeds from such issues (the “Managed Proceeds”). The scope of the Listco AM Services will be agreed and specified in the individual client agreement and may include, inter alia, overseeing the operations of the investment portfolios, provision of investment policies and strategies, making general investment decisions and monitoring the performance of the investment portfolio(s), and provision of administrative and management services to the investment portfolio(s) will be agreed and specified in the individual client agreement. The Group will charge the AM Clients management fees and performance fees, and will charge CMBCI Group distribution fees for the AM Related Products. The fees to be charged by the Group for the Listco AM Services shall be in line with comparable market rates and be no less favourable to the Group than those charged to Independent Third Parties. Licensed representatives of type 9 regulated activity of the Group will make reference to at least three recent market comparables generally obtained from public sources, such as SFC website, to assess the fees to be charged by the Group, which will be reviewed by the Responsible Officer of type 9 regulated activity of the Group. Details of the payment and pricing terms of the Listco AM Services will be specified in the individual service contract and will be negotiated on an arm’s length basis between the Group and the relevant AM Clients.