P.O. Box 267, 14-18, Castle Street, St. Helier, Jersey JE4 8TP

Transcription

1 Securities Division INITIAL REVIEW CHECKLIST FOR FUNDS P.O. Box 267, 14-18, Castle Street, St. Helier, Jersey JE4 8TP Tel: (44) Fax: (44)

2 Declaration I/We declare that the information given herein in relation to the is complete and correct to the best of my/our knowledge. proposed fund ( please insert the name of the fund) (the Fund ) F or and on behalf of: Signature: N ame (printed): Date: It should be noted that every permit under the Collective Investment Funds (Jersey) Law, 1988, (the CIF Law ), and every Control of Borrowing consent is issued, inter alia, on the basis of the information provided It is therefore important that a ny material changes to answers supplied in this checklist are brought to our attention as soon as possible, and in any event, prior to the issue of the permits and/or the consent.

3 1. The Fund 1.1 What name is proposed for the Fund? 1.2 Will a consent under the Control of Borrowing (Jersey) Order 1958, as amended, be sought? If yes, under what Article(s)? 1.3 Will the Fund be a collective investment fund as defined in Article 3 of the Collective Investment Funds (Jersey) Law, 1988, as amended (the C IF Law ) 1.4 Will a consent pursuant to Article 5 of the Companies (General Provisions) (Jersey) Order 2002 be required? 1.5 Will the Fund or any of its functionaries be relying upon any exemptions granted in the Financial Services (Jersey) Law 1998 or any of the Orders made thereunder? If yes, please give details. 1.6 What will the fund type be (e.g. Unclassified, Recognized, COBO only) N.B If a COBO only fund complete Appendix A. 1.7 Where will the Fund be domiciled? 1.8 What will the Fund s legal structure be? (e.g. limited company, unit trust, limited partnership, etc.)

4 1.9 W ill the Fund have a single class or umbrella structure? 1.10 Will the Fund be open or closed-ended? 1.11 If open-ended, how frequent will dealing be? (daily, weekly, etc.) 1.12 What will the Fund s objective be? (e.g. capital growth, etc) 1.13 What will the Fund invest in? 1.14 Will the Fund leverage itself? (for example through borrowings or derivatives) If yes, what limits will be applied? 1.15 Will the units of the Fund be listed? If yes, please give the name of the stock exchange(s) W hat type of investor will be targeted? (e.g., general public, high net worth, sophisticated, institutional, etc.); 1.17 What will the minimum investment level be? 1.18 What is the expected life of the Fund?

5 1.19 Who will be responsible for the safe custody of the assets of the Fund? 1.20 Will the Manager be independent of the Custodian or Trustee? 1.21 ( Umbrella funds only) If any particular sub-fund becomes unable to meet all of its liabilities out of its assets, will those excess liabilities have to be met out of the assets of other sub- funds (so called cross-loss risk)? If yes, what steps will be taken to reduce cross-loss risk? 1.22 Will an investment in the Fund involve any unusual risk factors? If yes, please give details Will the Fund invest in instruments, or use investment techniques (e.g. short selling), which could potentially carry an unlimited liability? If yes, please give details (Closed-ended funds only) Will there be subsequent offerings? 1.25 Please list any conflicts of interest that may arise.

6 2. Promoter if more than one promoter please copy 2.1 What is the full legal title of the promoter? ( this section and complete for each) 2.2 What is the address of the promoter s registered office? 2.3 Is the promoter the ultimate holding company in a group of companies? 2.4 Is the promoter a member of a group of companies but not the ultimate holding company? If yes, what is the name of the ultimate holding company? 2.5 Are the shares of the promoter (or if the promoter is a member of a group, the ultimate holding company) quoted on a stock exchange? If yes, please provide the name of the stock exchange. 2.6 Please provide the following information about persons or entities beneficially owning 10% or more of the promoter or its ultimate holding company:- Full legal name/title Date of birth (individuals) Percentage holding

7 2.7 If the promoter or its ultimate holding company is a regulated financial business, please provide the name of the overseeing regulatory body, telephone and facsimile numbers and a contact name (if possible). 2.8 If the promoter or its ultimate holding company has a web site, what is the address? 2.9 What is the total value of funds under management by the promoter? 2.10 Please provide the following information in relation to existing funds initiated by the promoter:- Name Domicile Type (e.g. Equity/Bond/Hedge/Venture Capital, etc. ) T ype of investor (e.g. general public, sophisticated, institutional, etc.) Date established

8 2.11 Please provide information to evidence the reputation of the promoter. For example:- Newspaper/Magazine articles Curricula Vitae References Analysts reports Rating Agency reports ( list is not exclusive) 2.12 Please attach the promoter s and (if applicable) latest consolidated audit report and accounts the group s and; If more recently produced, the interim report and consolidated accounts of the promoter and (if applicable) the group. Note: If in translation. a foreign language, please provide an English

9 3. Functionaries Category Any company issuing units Name Domicile Will a permit be required under the CIF Law? Manager Administrator Registrar Investment Manager Investment Advisor Distributor Subscription Agent Redemption Agent Premium Receiving Agent Policy Proceeds Paying Agent

10 3. Functionaries (continued) Purchase Agent Category Name Domicile Will a permit be required under the CIF Law? Repurchase Agent Trustee Custodian Depository Member of a partnership (except a limited partner) Auditor Any other functionary(ies) not listed above (please give title) N/ A N/A

11 Appendix A: COBO only Base Currency of the Fund Investment Policy Code (Appendix B) S tatistics Officer Details (Note 1) Name Date of Birth Correspondence Address f und. Name of Fund: Address Contact Telephone Number Note 1: The Commission is now requesting statistics information in respect of COBO only funds; in this regard please provide details of the person who will be responsible for provision of the statistics information.

12 A ppendix B: Codes for Investment Policy. Please use the code and description that most closely matches the investment policy of the fund. Code E01 Description Equity Code Equity-UK S01 E 02 Equity-Europe (Including UK) S02 E 03 Equity-Europe (Excluding UK) S03 E 04 Equity-US (North America) S04 E05 Equity-Japan S05 E 06 Equity-Far East (Including Japan) S06 E 07 Equity-Far East (Excluding Japan) S07 E08 E09 E10 B01 B02 B03 B04 B05 Equity-Global Emerging Markets Equity-Global Equity M01 Equity-Other M02 Bond M03 Bond-Global M04 Bond-UK Debt M05 Bond-US Debt Bond-Europe X01 Bond-Other Description Specialist Specialist-Venture Capital/Private Equity - Emerging Markets Specialist-Venture Capital/Private Equity - Other Specialist-Real Property Specialist-Derivatives Specialist-Traded Endowment Policies Specialist-Hedge/Alternative Investment Funds Specialist-Other Money Market Money Market-Sterling Money Market-US Dollar Money Market-Euro Money Market-Swiss Money Market-Other Mixed Mixed-Mixed Equity and Bond