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

Board Notices

Purchase

(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.