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From 1 April 2015 hedge funds became collective investments schemes and are now regulated by the Collective Investment Schemes Control Act 2002 (CISCA) and the newly published “Determination on the requirements for hedge funds” published in Board Notice 52 of 2015 by the FSB on 6 March 2015 (as amended) (HF Regulations). Hedge funds are defined so that most existing South African hedge funds, whether formed as trusts, en commandite partnerships or otherwise, are caught…
In the first formal step toward hedge fund regulation in South Africa, National Treasury has published a s63 declaration under the Collective Investment Schemes Control Act, 2002 (CISCA). Investment funds conducting the business of a hedge fund will, from 1 April 2015, become collective investment schemes (CIS) and will be regulated by CISCA. Hedge funds are broadly defined under the declaration and are not limited to any particular type of structure or vehicle. It is…
In the first formal step toward hedge fund regulation in South Africa, National Treasury has published a s63 declaration under the Collective Investment Schemes Control Act, 2002 (CISCA). Investment funds conducting the business of a hedge fund will, from 1 April 2015, become collective investment schemes (CIS) and will be regulated by CISCA. Hedge funds are broadly defined under the declaration and are not limited to any particular type of structure or vehicle. It is…
We have published a handy ten things to know about asset management in South Africa. We look briefly at how asset managers and alternative fund managers get licensed, how foreign funds get registered, how they can be marketed in our country, the new exchange control dispensation for private equity funds introduced by the South African Reserve Bank and more.…