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(1) The manager of a unit trust shall manage the assets of the unit trust on a day to day basis and shall select the investments to be made on behalf of the trust in the best interest of the unit holders.

(2) The manager shall act in accordance with the trust deed and comply with its investment objectives and policy under the directions given by the trustee.

(3) The manager shall provide such information on the management and administration of the unit trust as any trustee may request.

(4) The manager of a unit trust shall maintain such minimum capital requirement as the Commission may determine.

(5) The manager shall ensure that its directors or other persons concerned with the management of its business have such qualifications and experience as are specified by the Commission. [As substituted by Securities Industry (Amendment) Act, 2000 (Act 590) s. 10]