Collective Investment Schemes
Collective Investment Schemes
Before any Collective Investment Scheme can be offered and promoted in Zambia, it has to be authorized by the Securities and Exchange Commission.
It is an offence under Section 122 of the Securities Act 2016 to promote a Collective Investment Scheme in Zambia which has not been authorized by the Securities and Exchange Commission.
Authorization to promote a collective investment scheme must be obtained by making an application to the Securities and Exchange Commission.
An application to the Commission for authorization should be accompanied by the following;
The scheme’s offering and constitutive documents
The scheme’s latest audited report (if any) and if more recent, the latest unaudited report.
The management company’s latest audited report and resumes of its directors
The trustee/custodian’s latest audited report
A letter of consent to the appointment from the trustee/custodian
A letter of consent to the appointment from the auditors of the fund
The prescribed application fee
In addition to the documents specified above, an application for the authorization of a non-Zambian based scheme shall include:
A Zambian representative agreement and
A Zambian covering document.
Authorized Local Collective Investment Schemes
1. Laurence Paul Unit Trust Funds
2. Madison Assets Management Company Unit Trust
3. Intermarket Unit Trust
4. Equity Capital Resources Unit Trust
5. Mpile Unit Trust
6. Mukuyu Growth Investment Fund
7. Kukula Capital Fund
8. BancABC Unit Trust
9. Patumba Unit Trust
10. Altus Unit Trust
Authorized Foreign Collective Investment Schemes
1. Imara Global Fund
2. Imara African Opportunity Fund
3. Franklin Templeton Investment Funds
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