Investment Fund Market Guide - South Africa
Key features (Register market)
Yes/No | Remarks | |
Settlement free of payment | Yes | |
Settlement against payment | Yes | Refer to CBL’s Eligible currencies and the fund currency specified in fund prospectus. |
Disclosure Requirements | Yes | Refer to Disclosure Requirements – Investment Funds – South Africa. |
Restrictions on customer | No | Refer to Holding Restrictions – Investment Funds – South Africa. |
Restrictions on settlement | No |
Remarks | |
Market type / link type (Settlement link) | Register market |
| Eligible fund types / legal forms in CBL | Register market: Regulated collective investment schemes (including hedge funds) registered with the Financial Sector Conduct Authority in accordance with the Collective Investment Schemes Control Act, 2002 and private equity funds. CSD Link: n/a |
a. Please refer to the Market Link Guide – South Africa for more details about funds on CSD link. | |
Eligible fund types in CBL
Register market
Collective Investment Schemes (CIS) – CIS are regulated by the Collective Investment Schemes Control Act, 2002 (CISCA).
CISCA provides for five categories of permitted collective investment schemes in South Africa, namely:
- CIS in securities;
- CIS in property;
- CIS in participation bonds
- Retail hedge funds; and
- Qualified investor hedge funds
Hedge Funds – Hedge funds are regulated under CISCA as collective investment schemes. There are two types of hedge funds permitted in terms of CISCA, namely:
- Retail hedge fund; and
- Qualified investor hedge funds
Private Equity Funds – Private equity funds can have any legal form however the most common forms are:
- Limited liability partnerships (the en commandite partnership) and;
- Bewind trusts (i.e. vesting trusts).
CSD link
(Please refer to the Market Link Guide – South Africa for more information.)