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

Board Notices

Purchase

The Registrar determines the capital to be employed and maintained by a manager of a collective investment scheme in hedge funds to:

(a)	ensure that a manager has sufficient capital to enable the continued operation of 13 weeks (operational capital);

(b)	provide funds to cover the initial expenses in a portfolio (seed capital); and

(c)	ensure that there is sufficient capital when a manager buys participatory interests from and sells participatory interests to investors for the own account of the manager (position risk capital).