Master Funds Registration Form MF4 Issued (2017-10-17)

Summary

This is a General Industry Notice from CIMA announcing the issuance of Form MF4, the registration form for Master Funds under the Mutual Funds Law. It sets out the documents and information that must be submitted to CIMA before a Master Fund can begin carrying on business in or from the Cayman Islands, and provides the form itself along with submission instructions and contact details for the Investments & Securities Division.

The notice applies to Master Funds (funds that sit above regulated Feeder Funds in a master-feeder structure) and their operators, administrators, auditors and service providers.

• A completed and signed Form MF4 must be submitted along with supporting documentation.
• Auditor's consent letter: Required as part of the supporting documentation.
• Proof of incorporation or registration: Required, with the specific document depending on entity type.
• Current offering document: Required if one exists separately from the feeder fund's offering document.
• Prescribed fee: Payment of the prescribed fee under the Mutual Funds (Fees) Regulations is required.

The document is primarily procedural, describing the registration package required rather than imposing new substantive regulatory standards, but it confirms the ongoing legal requirement that Master Funds be registered with CIMA before commencing business.

Key obligations

• Master Funds must be registered with CIMA in the prescribed manner before carrying on business in or from the Cayman Islands.
• A completed and signed Form MF4 must be submitted, with the declaration signed by an 'operator' as defined in the Mutual Funds Law.
• The form's contact information must include the actual business address and phone/fax numbers at which the operator(s) can be contacted.
• If different from the regulated Feeder Fund(s), a local approved auditor's letter of consent must be submitted, including the Master Fund's name, acceptance of appointment, and a summary of services to be provided (and details of any delegated administration functions).
• If a separate Offering Document has been prepared for the Master Fund, a current copy (with date/version) must be submitted.
• Proof of incorporation or registration appropriate to the entity type (company, unit trust, exempted unit trust, or partnership) must be submitted.
• The prescribed fee under the Mutual Funds (Fees) Regulations (2011 Revision, as amended) must be paid.
• When submitting the form, the applicant must advise who is responsible for handling queries and payment of annual fees (registered office or local administrator).

Applies to

Master Funds, operators, regulated Feeder Funds, auditors, administrators, service providers