Fund Management Company

A fund management company or fund manager is a person who for valuable consideration provides management services alone, or with investment advice or administrative services in respect of securities for the purposes of investment, including dealing in securities, or such other activity as may be prescribed by The Authority.

 

Eligibility

An applicant intending to carry on business as a Labuan fund manager in Labuan IBFC shall meet the following eligibility criteria:

  1. An individual who holds a relevant degree or professional qualification to carry on fund management activities. Labuan FSA may also consider an applicant who is at least a diploma holder with three years’ relevant experience in the capital market or direct experience in fund management activities;
  2. An approved fund manager or any provider of such services from a country or jurisdiction who is a member of the International Organisation of Securities Commission (IOSCO); or
  3. A person who does not fulfil items 1 and 2 may also be considered, provided that the fund management activities are run and managed by suitably qualified and experienced individuals.

 

Licensing Requirement

  1. Submit a duly completed application form (Form LSCM) and all the relevant supporting documents as stipulated in Form LSCM
  2. Provide a business plan covering the business intentions, types of services to be provided, target market, three-year revenue projections and manpower, including the equity structure of the company with regard to the percentage of shareholding
  3. Demonstrate the existence of both adequate financial resources and insurance coverage as specified in paragraphs 8.1 and 8.2 of the Guidelines on the Establishment of Labuan Fund Manager
  4. The applicant, proposed directors and principal officer including any other relevant person are fit and proper persons as per the Guidelines on Fit and Proper Person Requirements issued by Labuan FSA; and
  5. Subject to the merit of each application, additional information may be requested by Labuan FSA to facilitate the processing of the application.

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