Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002)

Board Notices

Purchase

(1)	For a security to be classified as an index security, the security must replicate a financial index that is—

(a)	sufficiently diversified;

(b)	an adequate benchmark of the market to which it refers;

(c)	published in an appropriate manner and be readily accessible; and

(d)	compiled and calculated independently from the manager, the retail hedge fund and the issuer of the security.

(2)	Indices may, based on the eligibility criteria set out in subparagraph (1), consist of amongst others, commodity, metal, real estate and private equity.