Bell Rock glossary
Private Funds Act
The Cayman legislation governing the registration and ongoing regulation of closed-ended private funds with CIMA.
The Private Funds Act is the Cayman Islands legislation that brings closed-ended funds within CIMA's regulatory perimeter. It requires in-scope private funds carrying on business in or from Cayman to register with CIMA and imposes ongoing obligations including audited financial statements filed via a Cayman-approved auditor, a documented valuation policy, safekeeping of fund assets, cash monitoring and verification of title to the fund's investments. It operates alongside the Mutual Funds Act, which governs open-ended funds; determining which regime applies turns principally on whether investors have redemption rights.
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
Tax Information Authority · Statement of Guidance
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