Disclosures to investors
Regulation 71
Disclosures to investors
IFSCA (Fund Management) Regulations, 2025No change in 2026Chapter IV · Exchange Traded Funds (ETFs)
Chapter IV · Exchange Traded Funds (ETFs)
Regulation 71 – Disclosures to investors
Medium importance about 3 min
Exchange Traded Funds: Index, debt, commodity and actively-managed ETFs, and how ETF units trade and redeem.
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In plain English
The ETF must include all material investor disclosures — investment objective, target investors, strategy, methodology, fees, risk management practices and KMPs.
In plain English
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The rule, in its own words
Read the exact text of Regulation 71
71. (1) The offer document for ETFs shall clearly include all disclosures which are material for investors to make an informed decision regarding investing in such ETFs.
(2) The disclosures in the offer document shall inter-alia include investment objective, the targeted investors, investment style or strategy, investment methodology, proposed fees and expenses, risk management practices, KMPs of the FME and other relevant details of the FME and the ETF.
(3) Any material deviation or alteration to the fund strategy should be made with the consent of at least two-thirds (2/3rd) of investors by value.
(4) The FME shall ensure that the NAV is disclosed to the investors on a daily basis and the …
Show the full text
71. (1) The offer document for ETFs shall clearly include all disclosures which are material for investors to make an informed decision regarding investing in such ETFs.
(2) The disclosures in the offer document shall inter-alia include investment objective, the targeted investors, investment style or strategy, investment methodology, proposed fees and expenses, risk management practices, KMPs of the FME and other relevant details of the FME and the ETF.
(3) Any material deviation or alteration to the fund strategy should be made with the consent of at least two-thirds (2/3rd) of investors by value.
(4) The FME shall ensure that the NAV is disclosed to the investors on a daily basis and the manner of such disclosure shall be detailed in the offer document.
(5) The FME shall ensure that the portfolio under the ETF is disclosed to the investors and the manner of such disclosure shall be detailed in the offer document.
(6) Any other material disclosure as considered suitable by the FME or the fiduciaries shall be informed to the investors immediately.
(7) The FME and the fiduciaries shall ensure compliance with the disclosure requirements as specified above or as may be specified by the Authority.
Statutory text — Principal Regulations, 2025 (as amended to 30 January 2026), consolidated where amended. The notified Gazette text prevails. Tap a highlighted word for how it functions.
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What this means in practice
Compliance actions
- Applies to
- ETF
- Frequency
- At launch, updated as needed
- Evidence
- ETF offer document
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Where it connects
Read alongside
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Check yourself
Quiz Centre
Test yourself on Regulation 71
3 questions in the unified bank test this regulation. Each explains every option and cites the provision.
An ETF offer document must disclose the investment objective, strategy, fees and risk management.
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Your notes
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Exchange Traded Funds