Mutual Funds

Mutual Fund Services from Centurion Financial Services

A mutual fund is an investment vehicle that aggregates money from many investors to invest in stocks, bonds or other types of investment. A fund manager (or "portfolio manager") decides how to invest the money, and for this he is paid a fee, which comes from the money in the fund. Mutual funds are usually "open ended", meaning that new investors can join into the fund at any time. When this happens, new units, which are specialised shares, are given to the new investors.

In October 2004 the Anguilla Mutual Funds Act was enacted which required all new corporate entities falling within the definition of "mutual fund", as defined in the Act, to apply for registration by the Anguilla Financial Services Commission.

Retrospective provisions required all existing "mutual funds" to apply by 31st March 2005. Managers and Administrators are also required to be approved and licensed under the Act. There are three basic types of fund defined under the Act which are Public, Private and Professional. The constitution, activities and regulation of each of these types of fund are in general commensurate with their categorization.

Centurion Financial Services is able to assist in the structuring and formation of mutual funds and to provide supplementary corporate administrative services.

For More Information Email: info@centurion-financial-services.com