In February 2015, the Minister of Finance declared hedge funds as collective investment schemes with effect from 1 April 2015. All South African hedge fund operators were required to apply for registration in accordance with the Collective Investment Schemes Control Act, No. 45 of 2002 (“CISCA”), in order to continue operating.
To date, the Financial Services Board has considered and approved the following hedge fund applications:
| Qualified Investor Hedge Funds | |
| No. of Approved Schemes | 14 |
| No. of Portfolios | 157 |
| Assets Under Management | R61bn |
| Retail Investor Hedge Funds | |
| No. of Approved Schemes | 10 |
| No. of Portfolios | 112 |
| Assets Under Management | R12bn |
A complete list of all applications approved is published on the FSB website. The address for further queries provided in the media release was incorrect. The correct address we managed to get from the FSB is: FSB.Hedgefundqueries@FSB.co.za
