Decision Notice - Cancellation of Mutual Fund Registration for China Reserve Fund SPC (2026-09-10)

Summary

This is a Decision Notice extract published by CIMA announcing that it has cancelled the mutual fund registration of China Reserve Fund SPC (Reg. #1349795) under the Mutual Funds Act (2025 Revision). It is an enforcement action against a specific named fund rather than a rule of general application, but it illustrates the statutory obligations CIMA expects registered mutual funds to meet.

• Breaches found: Failure to have the Segregated Portfolio's accounts audited annually and to submit audited accounts for financial years ending 31 December 2024 and 2025 within the prescribed period (sections 8(1) and (2)); and failure to pay the prescribed annual fees for 2026 by 15 January 2026 (section 9(1)).
• Action taken: CIMA cancelled the Fund's mutual fund registration under section 30(3)(a) of the Act, having found the Fund unable or likely unable to meet its obligations, in contravention of the Act, and not managed in a fit and proper manner.
• Effective date: The cancellation decision took effect on 1 September 2026.
• Right of appeal: The Fund may appeal the decision to the Grand Court under the procedure set out in section 36 of the Act.

For compliance officers, this notice serves as a reminder of the ongoing statutory duties on registered mutual funds to have audited accounts filed on time and annual fees paid by the prescribed deadline, as failure to do so can result in cancellation of registration.

Applies to

registered mutual funds, segregated portfolio companies, mutual fund operators

Deadlines

• 01 September 2026: Effective date of CIMA's decision to cancel China Reserve Fund SPC's mutual fund registration.