In Mauritius, funds are generally structured as companies, limited partnerships and protected cell companies and are authorised to operate as either an open-ended fund or a closed-end fund under the Securities Act 2005.
A fund can be self-managed or appoint a CIS manager subject to the approval of the FSC. However, most funds choose to incorporate a CIS Manager, also known as a Investment Manager, in Mauritius in order to manage the CIS. Though this is not compulsory, it can help strengthen the tax residence of the CIS in Mauritius. The Investment Manager will have to demonstrate a proven track record in fund management to be granted a licence by the FSC.
