7.2-1.1 Application

This chapter applies to:

(a) a Single Family Office Fund;

(b) the Director of an Investment Company acting as a Fund Manager of (a).

7.2-1.2 Requirements relating to the Single Family Office Fund

(a) A Single Family Office Fund must: 

(i) be an Exempt Fund; and 

(ii) have minimum investable assets under management of USD 1 million, assessed by fair market or book value.

(b) For the purposes of these Rules, a Single Family Office Fund is treated as a Domestic Fund that is managed by a Domestic Fund Manager.

(c) A Single Family Office Fund Manager is not required to have a Governing Body and appoint a Finance Officer and Compliance Officer.

7.2-1.3 Requirements relating to a Director

The Director of a Single Family Office Fund who is managing the Single Family Office Fund must not act as the Fund Manager of any other Fund or manage assets for another Person.