Basic Conditions of Employment Act, 1997
R 385
Collective Investment Schemes Control Act, 2002 (Act No. 45 of 2002)Board NoticesCapital Requirements with which a Manager of a Collective Investment Scheme in Hedge Funds must complyPreamble |
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). |
