![]() ![]() Public funds are the only BVI fund offering available to the general public. Public funds are retail funds that other jurisdictions would classify as “mutual funds.” These funds are open to retail investors therefore, there is no net worth requirement for investors. The fact that the fund cannot market except on a private basis also fits the family office structure as there is no need for marketing to the broader public. Any family member can qualify as an investor since there is no net worth hurdle to cross. Private funds do not have any restrictions regarding the make-up of investors and no cap on their assets under management. This fund has found favour with family offices because it offers the internal structure of a hedge fund combined with the flexibility and privacy of a private investment vehicle. Private funds are limited to 50 investors and must be marketed on a private basis only. ![]() The fund must also submit a full-offering memorandum with subscription documents to the BVI regulator - the BVI Financial Services Commission (FSC) – for approval. ![]() The professional fund must have an investment manager, administrator, custodian, and auditor, with exemptions available for the investment manager and custodian requirement. Investors in professional funds are required to subscribe for at least $100,000 and must have a net worth (alone or jointly with their spouse) of at least $1m or must be institutional investors. The professional fund is ideal for high-net-worth investors. The flagship BVI fund is the professional fund, the typical choice for most hedge funds, funds of funds, and alternative investment funds. ![]()
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