Global Funds
There are two broad categories of investment funds which are regulated in Mauritius:
1. Collective Investment Scheme (“CIS”) which has the following critical aspects:
- Pooling of funds from investors and investment of that money into a portfolio of investments;
- Investment based on risk diversification principle;
- Redemption at the option of the investors;
- Investors who do not participate in the day to day management
2. Closed End Fund (“CEF”)
There are two broad categories of investment funds which are regulated in Mauritius:
- Global Scheme
This is a fully regulated CIS. - Professional CIS
This form of CIS can offer its shares solely to sophisticated investors or as private placements. It is exempted from most ongoing obligations/regulations generally imposed on Global Schemes. A CEF meeting certain conditions can qualify as a Professional CIS. - Specialised CIS
Invests in real estate, derivatives, commodities or any other product authorised by the Financial Services Commission. - Expert CIS
The Expert CIS is only available to Expert Investors. An Expert Investor is an investor who makes an initial investment for his own account of no less then USD 100,000. The Expert Fund is exempt from most on-going obligations/regulations generally imposed on Global Schemes.