Regulatory Alerts2018-03-26
Notice 572 and 573 of 2008: Determination of Assets for Property Collective Investment Schemes
The Financial Services Board has issued a determination under the Collective Investment Schemes Control Act, 2002, specifying permissible assets and investment limits for property collective investment schemes. The regulation mandates that included assets must be exchange-listed participatory interests, property loan stock units, or shares in property-focused companies, subject to a maximum 25% portfolio exposure cap and a 10% limit per single concern. Managers must obtain prior trustee consent before adding these assets, and any portfolio limit breaches are restricted to market value fluctuations or corporate actions rather than new investments.
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