Fund Services
Mauritius has already emerged as a well-known tax and cost well-organized platform for funds investing in India. Mauritius domiciled investment funds have already invested U.S $36 billion mainly in emerging markets, including the Indian bourses, and in private equity, including property.
Mauritius has emerged as the best possible jurisdiction for structuring cross-border investments into Asia (particularly India and China) and Africa. Mauritius is also recognized offshore fund jurisdiction with an internationally recognized but pragmatic regulatory environment and extensive double tax treaty network making it a domicile of choice for offshore funds.
Antrix Corporate Solutions acts as a supervisor for diverse types of funds, including private equity/venture capital funds, traditional open-ended long only equity funds private equity/venture capital funds and long-short hedge funds.
The law in Mauritius provides for two main categories of investment companies - ‘funds’;
Open-ended fund
Open-ended fund also known as a Collective Investment Scheme “CIS”: means a scheme constituted as a company, a trust or any other legal entity prescribed or approved by the Commission– 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 Commission whose operation is based on the principle of diversification of risk.
Closed-end fund
Closed-end fund commonly known as Private Equity Fund, an arrangement or a scheme, other than a CIS constitute in such legal form as may be approved by the commission and whose object is to invest funds, collected form subscribers during an offering made under the securities Act or from sophisticated investors, in a portfolio of securities, or in other financial or non financial assets, or real property, as may be approved by the commission.
Closed end funds usually have a fixed share capital and typical restrict investors rights to call for their shares to be redeemed at net asset value by the fund.
Main differences between CIS & Closed-End Fund
Unlike a CIS, a Closed-End Fund:
May not allow redemption at option of investors
Need not operate on risk diversification principle
May not allow redemption at option of investors
Antrix Corporate assists you with Global Funds services
Sub-categories of CIS are as follows:
1. Processional Collective Investment
Scheme (“PCIS”) is a scheme offering their shares:
- Solely to sophisticated investors
- As private placement
2. Sophisticated investors
being defined as follows:
- Mauritius Government fully owned company and/or agency
- The Government of Mauritius
- Any government of any foreign country
- Any agency of any government
- A bank
- A CIS Manager
- An investment advisor
- An investment dealer
- An insurer
- High Net Worth Individuals
- An entity or person deem fit to be a sophisticated investor by the Mauritius FSC
3. Specialised CIS
is a CIS which invests in real estate, derivatives, commodities or any other product authorized by the FSC.
4. Expert Fund
is a CIS that has applied to the Commission to be licensed as an Expert Fund. Expert Fund is only available to expert investors.
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