Decision Notice - Mutual Fund Registration Cancelled for Melius Fixed Income Fund (2025-12-10)

Summary

This is a Decision Notice published by CIMA confirming that it has cancelled the mutual fund registration of Melius Fixed Income Fund (Registration No. 1801015), effective 25 November 2025. The action follows an earlier Warning Notice and unremedied breaches of the Mutual Funds Act.

• Audited accounts: Failure to prepare and submit audited accounts to CIMA for the years ended 31 December 2020, 2021, 2022, 2023 and 2024, in breach of sections 8(1) and 8(2) of the Mutual Funds Act.
• Annual fees and penalties: Failure to pay prescribed annual fees and accrued penalties for 2023, 2024 and 2025, and penalties accrued on the 2022 annual fee, in breach of sections 9(1) and 9(3).
• Registered office: The Fund did not have a Registered Office as required under section 50(1) of the Companies Act (2025 Revision).
• Director fitness: CIMA found the director, Mr. Jeremy Leach, not fit and proper to hold a director position in a regulated mutual fund.
• Action taken: Pursuant to section 30(3)(a) of the Mutual Funds Act, CIMA cancelled the Fund's mutual fund registration.

The Fund has a right of appeal to the Grand Court against the cancellation decision under section 36 of the Act. This notice is specific to Melius Fixed Income Fund and does not itself impose new ongoing obligations on other regulated entities, but illustrates CIMA's enforcement of existing filing and fee obligations under the Mutual Funds Act.

Applies to

mutual funds, registered mutual fund directors

Deadlines

• 25 November 2025: Effective date of CIMA's decision to cancel the Fund's mutual fund registration.