PRIVATE FUND

  • Private funds are those whose shares are not offered to the general public and are owned or held by:
    • Not more than 50 investors where the first time investment of each of such investors is not less than RM250,000 or its equivalent in any foreign currency
    • Any number of investors where the first time investment of each of such investors is not less than RM500,000 or its equivalent in any foreign currency
    • That it is designated by the Minister of Finance as private funds
    • Islamic private funds are private funds that are in compliance with Shariah principles

Notification Requirements

A private fund can carry on its affairs by giving notice in writing of its scope and nature of business to The Authority. This notification can be an information memorandum or such other offering document and should be lodged through a licensed entity. The information memorandum or such other offering document will be considered to be a prospectus and the Authority will enter the particulars into a register. A lodgment fee RM2,000 is applicable.

Governing Legislations

The governing legislations of mutual funds business and operations in Labuan IBFC are Part III of the Labuan Financial Services and Securities Act 2010 and Part IV of the Labuan Islamic Financial Services and Securities Act 2010.