New start up funds products in BVI incubator fund and approved fund
Published: 1 Jul 2015
Article first published by Appleby in July 2015
With the 1 June 2015 coming into force of the Securities and Investment Busines(Incubator and Approved Funds)Regulations, 2015 (the New Fund Regulations), the British Virgin Island (BVI) Financial Services Commission (FSC) has reinforced its commitment to ensuring that the BVI remains a pre-eminent, dynamic and attractive domicile for investment funds products.
The introduction of the two new, lightly regulated fund products reflect the FSC’s awareness of global funds market trends and are designed to meet the needs of the asset management industry.
The Incubator and Approved Funds will appeal to start-up managers. The new fund structures are designed to facilitate rapid and cost-efficient setup, with reduced requirements as to fund service providers and an accelerated FSC approval process.