The Cyprus Securities and Exchange Commission issued the Circular No. C117 (dated on the 22.02.2016) in order to inform the Cyprus Alternative Investment Funds about the following:
- The AIFs are NOT required to include in their name any reference (“distinctive feature”) to their principal category of assets. However, if the AIF wishes to do so, then such reference must be in line with its investment policy and its main category of assets as evidenced in the AIFs documents (cf. incorporation documents and offering memorandum).
- For exemptions to the above, please see i) Paragraph 78 for Loan AIFs and ii) Paragraph 56 & 74 for Money Market AIFs.
- Regarding whether an AIF has the right to choose under which category it falls, if it does have a main category of assets, then it shall be subject to the regulations governing that category.
For further information on the Alternative Investment Funds in Cyprus, please get in touch with our Regulatory Advisory Team.