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ARTICLE · 12 AUGUST 2020

Alternative Investment Funds Guide 2020

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Bermuda partner Sarah Demerling and senior associate Melanie Fullerton have teamed up with ICLG to provide a detailed legal guide on the Bermuda alternative investment fund industry.

BermudaFinance and Banking
Sarah Demerling
Sarah Demerling
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1. REGULATORY FRAMEWORK

1.1 What legislation governs the establishment and operation of Alternative Investment Funds?

The establishment and operation of investment funds in Bermuda ("investment funds" or "funds") is governed by:

  • the Companies Act 1981, as amended (the "Companies Act");
  • the Investment Funds Act 2006, as amended (the "IFA");
  • the Investment Funds (Definition) Order 2019 (the "Definition Order");
  • the Investment Fund Offering Document Rules 2019 (the "Fund Offering Document Rules"); and
  • the Investment Fund Rules 2019 (collectively, with the Fund Offering Document Rules, the "Fund Rules").

The Bermuda Monetary Authority (the "BMA") is the principal body responsible for the regulation of investment funds, including those listed on the Bermuda Stock Exchange.

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