Special Investigating Units and Special Tribunals Act, 1996
R 385
Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002)Board NoticesDetermination on the requirements for hedge fundsPart 2 : Qualified Investor Hedge Fund4. Leverage |
| (1) | A manager of a QI fund must— |
| (a) | set the level of exposure or value-at-risk for each portfolio of the QI fund; |
| (b) | provide for the limit referred to at subparagraph (1)(a) in the mandate and the founding documents of a portfolio of the QI fund; and |
| (c) | inform the registrar of the limits referred to in subparagraph (1)(a). |
| (2) | A manager may not change the limits set in accordance with subparagraph (1) without approval of the investors and the registrar. |
