Hedge Fund Regulation in Brazil - Part 2

8. ADMINISTRATION OF THE FUND

The administration of the fund comprehends the group of services related directly or indirectly to the functioning and maintenance of the fund that can be provided by the administrator himself or by third parties hired by him, in writing, in the name of the fund.

On behalf of the fund, the administrator shall hire duly qualified or authorized third parties for the following services, with the exception of any other not listed:

1. the management of the fund's portfolio;
2. the investment consultancy;
3. the securities treasury, control and processing activities;
4. the distribution of quotas;
5. the writing of the issuance and redemption of quotas;