Republic Acts1 min read
Section 11Sec./Art. 11
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Administrative and Operational Expenses of the Maharlika Investment Corporation.- The Board of the MIC is authorized to disburse from the Fund such amounts as may be necessary for administrative and operating expenses, the total of which shall not exceed two percent (2%) of funds managed: Provided, That the Board of Directors shall set annual targets to reduce operating and administrative expenses as a share of funds managed: Provided, further, That the foregoing ceiling shall decrease as the size of the Fund increases based on industry practice.
ARTICLE III
MAHARLIKA INVESTMENT FUND
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