Regulatory Alerts2026-03-30
Added · Updated
CIS.S.4.2 – Transfer and Merger of CIS Participatory Interests
This Standard establishes requirements for the transfer, merger, or reorganisation of collective investment schemes or portfolios, applying to schemes, managers, trustees, and custodians. Transactions require prior written approval from NAMFISA and, generally, consent from investors holding 51% in value of participatory interests, though exemptions exist for board-approved mergers or specific transfers meeting strict asset and disclosure conditions. Managers must notify investors at least 30 business days before the effective date and submit detailed transaction particulars to NAMFISA. Approved transactions vest all assets and liabilities in the target scheme, substitute participatory interests of equivalent value without fees, and preserve creditor rights.
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