A Cis Single Fund is a type of Collective Investment Scheme licensed by the FSC of Mauritius as one fund having the characteristics of an open-ended fund.
A CIS Single Fund is assigned a specific category of CIS based on the nature of its investors and its investment strategies. This categorisation allows the fund to be appropriately regulated and marketed to its intended investor base, such as retail investors for Global Schemes, expert investors for Expert Funds, institutional and expert investors for Professional CIS, or those targeting specific asset classes or strategies for Specialised CIS.
The categorisation helps ensure that each fund operates within a framework suited to its particular characteristics and objectives, providing clarity and confidence to investors.
Categories of CIS According to the Securities Act 2005
Global Scheme
A Global Scheme is a CIS that is open to retail investors globally. This scheme must comply will all the relevant provisions of the Securities Act to ensure investors protection. This scheme is typically marketed to the public and offer a high level of transparency and disclosure.
Expert Fund
An Expert Fund is targeted at expert investors who are recognised to have the expertise and experience to understand and assess the risks associated with the fund. These investors must meet certain eligibility criteria, such as a minimum investment threshold. Expert funds benefit from a more flexible regulatory framework, allowing for innovative and high-risk investment strategies.
Professional CIS
A Professional CIS is similar to an Expert Fund but is intended for sophisticated investors such as banks and high-net-worth individuals or offered to investors through private placement. These funds are subject to lighter regulatory oversight compared to retail-focused schemes, enabling more complex and specialised investment approaches.
Specialised CIS
Specialised CIS refers to funds that focus on specific asset classes or investment strategies, such as real estate or commodities. These funds cater to investors seeking exposure to niche markets and may have unique regulatory requirements tailored to their specific focus.
Competitive Operational Costs
- Cost-Effective: The operational costs of establishing and managing a CIS Single Fund in Mauritius are relatively low compared to other financial centres, making it an attractive destination for fund managers.
- Skilled Workforce: Mauritius. boasts a skilled and multilingual workforce, ensuring the availability of qualified professionals to support the fund’s operations.
