ADVOKS GLOBAL · KENYA
The Capital Markets (Alternative Investment Funds) Regulations
12. Investment in a fund
Edition: 2023-12-15 · In force
12. Investment in a fund
Investment in all asset classes shall be subject to the following investment conditions—(a)the fund may pool funds from any investor wherever resident by way of issue of participatory interests;(b)the fund shall not accept from a participant, an initial investment of less than one million Kenya shillings and the participant must maintain the minimum investment in book value throughout the duration of their investment in the fund;(c)the fund manager, may have a continuing interest in the fund and such interest shall not be through the waiver of management fees;(d)the fund manager shall disclose its investment or lack thereof in the fund to the participants of the fund in the placement memorandum and such quarterly and annual reports as may be required;(e)a fund shall not have more than one hundred participants:Provided that the provisions of any other legislation governing the structure of the fund shall apply to the fund;(f)a fund shall not solicit or collect funds except by way of private placement.