Smart Fund Model 007 (the "SFM Model 007") or the
Super Qualified Investment Fund became available for use as of 22nd
August, 2012.
Whilst the SFM Model 007 contains a number of features which
mirror those of other Smart Fund Models such as the mandatory term
sheet (or offering memorandum) and the ability of the investors to
unanimously waive the annual audit, the distinguishing features are
(i) a single investor is expressly permitted, (ii) the maximum
number of investors is 50, (iii) there is a minimum investment of
US$500,000 and (iv) the administrative functions can be outsourced
to any reputable person in a jurisdiction on an as needed
basis.
These characteristics will facilitate the use of the flexible
Smart Fund product by both asset managers seeking to establish a
track record using the assets of up to 50 investors* (each
contributing a minimum of US$500,000) and financial advisors as a
part of wealth management structures for the assets of a
