FSB: Update on the registration of hedge funds in South Africa
In February 2015, the Minister of Finance declared hedge funds as collective investment schemes with effect from 1 April 2015. All South African hedge fund operators were required to apply for registration as hedge funds in accordance with the Collective Investment Schemes Control Act, No. 45 of 2002 (“CISCA”), in order to continue operating.
To date, the Financial Services Board has considered and approved the following hedge fund applications:
|
Qualified Investor Hedge Funds |
|
|
No. of Approved Schemes |
14 |
|
No. of Portfolios |
157 |
|
Assets Under Management |
R61bn |
|
Retail Investor Hedge Funds |
|
|
No. of Approved Schemes |
10 |
|
No. of Portfolios |
112 |
|
Assets Under Management |
R12bn |
A complete list of all applications approved may be found on the FSB’s website, at www.fsb.co.za. Queries may be addressed to Mr Udesh Naicker at the FSB, at e-mail address: [email protected].
