This Guide sets out the continuing obligations under Cayman Islands law of an open-ended fund registered with the Cayman Islands Monetary Authority (CIMA) under section 4(3) of the Mutual Funds Law (Mutual Funds Law).
Open-ended investment funds, which provide investors with voluntary redemption or repurchase rights, registered with CIMA in the Cayman Islands under the Mutual Funds Law can be structured as exempted companies, limited partnerships, limited liability companies or unit trusts. Please see our Guide to Investment Funds in the Cayman Islands for more details of the fund structures available in the Cayman Islands.
Part A – Registered Mutual Fund
If the fund is an exempted company incorporated with limited liability and an authorised share capital, see also Part B, if it is an exempted limited partnership, see also Part C, if it is a limited liability company incorporated under the Limited Liability Companies Law (LLC), see also Part D and if it is an exempted trust, see also Part E. Note in particular that penalties frequently apply for late filings and so the registered office should be informed promptly of any notifiable changes to allow the appropriate filing/s to be made.
The following covers the requirements of an investment fund that is registered under section 4(3) of the Mutual Funds Law. It applies equally to a feeder fund and a master fund.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.