Bell Rock glossary
Master Fund
The fund in a master-feeder structure that holds the assets and conducts the trading, into which the feeder funds invest.
A master fund is the central vehicle in a master-feeder structure into which one or more feeder funds invest substantially all of their assets, and in which portfolio trading actually takes place. A Cayman master fund that has at least one CIMA-regulated feeder and issues investment interests generally must itself register with CIMA under the Mutual Funds Act as a master fund, with corresponding audit and reporting obligations.
Classification and registration depend on the full statutory definition, the entity’s terms and applicable exclusions. Strategy labels alone do not determine the regulatory route.
Related guidance
Limited Partnership Agreement · Limited Partner
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