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structures
1
CURRENT CIS STRUCTURE
TRUSTEE PROVIDES
PTY (LTD) CIS MANAGER FIDUCIARY
LTD OVERSIGHT
-------- - -------- -
CAT II
ASSET MANAGER/
INVESTMENT
MANAGER
SCHEME/DEED
FUND ADMIN
(PRICING)
- ASSET REGISTER
IFUND ADMIN
(LIABILITY) PORTFOLIO PORTFOLIO
CLIENT REGISTER
INVESTORS
2
Current CIS Structure cont.
4
Hedge Funds adopting CIS structure
TRUSTEE PROVIDES
PTY (LTD) CIS MANAGER FIDUCIARY
LTD OVERSIGHT
EXTERNAL FUND
ADMIN (LIABILITY)
CLIENT REGISTER
PORTFOLIO PORTFOLIO PORTFOLIO
PRIME BROKER
NOMINEE
COMPANY
5
RIHF Partnership (en commandite)
Structure
GENERAL PARTNER TO BE TRUSTEE PROVIDES
PTY (LTD) REGISTERED AS CIS FIDUCIARY
LTD MANAGER OVERSIGHT
EXTERNAL FUND
ADMINISTRATOR RIHF SCHEME
PRIME BROKER
INVESTORS/ GENERAL
PARTNER COULD
ALSO BE AN
INVESTOR
NOMINEE
COMPANY
6
Qualified Investor Hedge Fund (QIHF):
Partnership (en commondite) Structure
The General Partner will register as a CIS manager
ASSET MANAGER/
INVESTMENT
MANAGER
INDEPENDENT FUND
QIHF SCHEME ADMINISTRATOR
PRIME BROKER
INDEPENDENT
INVESTORS CUSTODIAN
MAY INCLUDE
GENERAL
PARTNER
NOMINEE
COMPANY 8
Qualified Investor Hedge Fund (QIHF)
Bewind Trust
TRUST REGISTERED AS A CIS TRUSTEE REGISTERED AS A
MANAGER CIS MANAGER
ASSET MANAGER II A
BENEFICIARY INVESTORS