Types of Fund & Dixcart Services Available
Different types of fund are appropriate in different circumstances – choose between: Venture Capital Funds, and European Funds.
Types of Fund
Different jurisdictions have their specific fund legislation and choice of fund structures. The optimum option will depend on the investor’s and the promoter’s specific circumstances.
Dixcart fund services are available in the Isle of Man and Malta.
The variety of fund structures available across jurisdictions reflects the growing demand for tailored investment solutions, a key focus of Dixcart’s wider fund services.
Exempt Funds, available in the Isle of Man continue to be a popular choice. The jurisdiction of Malta offers the choice of collective investment schemes, operating freely throughout the EU, on the basis of a single authorisation from one member state.
Exempt Funds
All Isle of Man funds, including Exempt Funds, must conform to the meanings defined within the Collective Investment Scheme Act 2008 (CISA 2008), and regulated under the Financial Services Act 2008.
Under Schedule 3 of CISA, an Exempt Fund must meet the following criteria:
- The Exempt Fund to have no more than 49 participants; and
- You should not publicly promote the fund; and
- The scheme must be (a) a Unit Trust governed by laws of the Isle of Man, (b) an Open Ended Investment Company (OEIC) formed or incorporated under the Isle of Man Companies Acts 1931-2004 or Companies Act 2006, or (c) a Limited Partnership that complies with Part II of the Partnership Act 1909, or (d) such other description of a scheme as is prescribed.
European Funds
Malta benefits from a series of European Union Directives which allow collective investment schemes to operate freely throughout the EU, on the basis of a single authorisation from one member state.
Characteristics of these EU regulated funds include:
- A framework for cross-border mergers between all types of EU regulated funds, allowed and recognised by each member state.
- Cross-border master-feeder structures.
- The management company passport allows a management company in one EU member state to manage an EU-regulated fund established in another member state.
Related Articles
Maltese Notified PIFs: A New Fund Structure – What Is Being Proposed?
The Legal Differences Between the Two Most Popular Fund Vehicles in Malta: SICAVs (Sociétés d’Investissement à Capital Variable) and INVCOs (investment company with fixed share capital).
Isle of Man Exempt Funds: 7 Things You Need to Consider
See Also
Funds can present a broader range of investment opportunities and help meet the increasing obligations for regulation, transparency and accountability.
You can access Dixcart fund services through the Dixcart offices in the Isle of Man and Malta.
