ADVOKS GLOBAL · KENYA
The Capital Markets (Alternative Investment Funds) Regulations
13. Placement memorandum
Edition: 2023-12-15 · In force
13. Placement memorandum
(1)A fund manager may pool capital from investors subject to submitting its placement memorandum to the Authority for approval.(2)The placement memorandum shall contain—(a)all material information about the fund and the fund manager;(b)background of the key investment team of the fund manager;(d)fees and all other expenses proposed to be charged in the duration of the alternative investment fund;(e)a statement that the directors, trustees or partners are liable for the correctness of the statements contained therein;(f)conditions or limits on redemption;(g)disclosure of all related fees and charges;(i)risk management framework;(j)key service providers;(k)conflict of interest and procedures to identify and address them;(l)its enforcement history;(m)the terms and conditions on which the fund manager offers investment services;(n)its affiliations with other intermediaries;(o)its dispute resolution mechanisms;(p)manner of winding up of the fund; and(q)such other information as may be necessary for an investor to make an informed decision.(3)The application for approval shall be subject to such fees as specified in the Third Schedule.(4)The Authority shall approve the placement memorandum subject to incorporation of the Authority’s comments.(5)The Authority may by notice in writing, require the fund manager to furnish to it, within such period as is specified in the notice, all such information with respect to itself or the alternative investment fund as is specified in the notice.