Mauritius is home to some of the most impactful and leading funds from around the world. Boasting over a thousand funds, a collective AUM in excess of USD 80 billion, and a sizeable number of them from development finance institutions and sovereign wealth funds, Mauritius is noted as the gold standard for fund management and administration.
Mauritius is home to some of the most impactful and leading funds from around the world. Mauritius is noted as the gold standard for fund management and administration. Mauritius offshore fund clients to ensure the ongoing quality, efficiency and service level of our global fund services. As a global fund service provider we are both proactive and reactive to support our offshore fund clients' evolving needs.
The Funds are structured as investment companies in Mauritius, and can either be open-ended, falling under the Collective Investment Schemes category, or closed-ended, commonly referred to as Private Equity funds. The Funds domiciled in the Mauritius IFC are eligible to all the benefits which accrue to Global Business Companies.
Global Funds domiciled in Mauritius may also take advantage of the flexible listing rules of the Stock Exchange of Mauritius to list on one of the leading platforms in Africa, member of a number of international bodies, including the World Federation of Exchanges, South Asian Federation of Exchanges, African Securities Exchanges Association and Committee of SADC Stock Exchanges. Such listings would attract investors’ value, and demonstrate substance, notably to institutional investors and development finance institutions.
Collective Investment Schemes
A Collective Investment Scheme ('CIS' / Offshore Fund / Global Fund) is defined under the Securities Act 2005 as a scheme constituted as a company, a trust, or any other legal entity (e.g. a limited partnership) prescribed or approved by the Financial Services Commission (FSC) in Mauritius:
- Whose sole purpose is the collective investment of funds in a portfolio of securities, or other financial assets, real property or non-financial assets as may be approved by the FSC;
- Whose operation is based on the principle of diversification of risk;
- That has the obligation, on request of the holder of the securities, to redeem them at their net assets value, less commission or fees;
- Where the participants do not have day to day control over the management of the property, whether or not they have the right to be consulted or to give directions in respect of such management;
- Includes closed-end funds whose shares or units are listed on a securities exchange;
- Excludes such schemes as are specified in Part II of the Schedule SA 2005.
The Global CIS is a fully-regulated CIS, and they are funds which are essentially meant for the public. This CIS normally does not hold a Category 1 Global Business license, and is not entitled to any of the exemptions generally provided to funds.
Professional CIS are schemes which offer their shares solely to sophisticated investors or as private placements. Sophisticated investors include Governments or public bodies, and banks, amongst others. Professional CIS are exempted from most obligations and regulations as long as the interests of the Professional CIS are not resold to the public and they are not listed on a securities exchange, whether in Mauritius or elsewhere.
A Specialized CIS consists of funds which are invested in real estate activities or in derivatives or commodities, as well as other products which may be approved by the Financial Services Commission.
An Expert Fund consists of funds which only available to Expert Investors. An Expert Investor is an investor who makes an initial investment for his own account of no less then USD 100,000. Most of the obligations and restrictions governing Global Funds do not apply to Expert Funds.