ARTICLE · 16 AUGUST 2023

Alternative Investment Funds 2023

Anderson Mori & Tomotsune

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The Financial Instruments and Exchange Act (Act No. 25 of 1948; the "FIEA") and the regulations promulgated thereunder primarily govern the marketing, investment management and disclosure...

JapanFinance and Banking

Koichi Miyamoto

Takahiko Yamada

Yoshiko Nakamura

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1 Regulatory Framework

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

The Financial Instruments and Exchange Act (Act No. 25 of 1948; the "FIEA") and the regulations promulgated thereunder primarily govern the marketing, investment management and disclosure of Alternative Investment Funds in Japan.

Alternative Investment Funds that are categorised as investment trusts or investment corporations are also subject to the Investment Trusts and Investment Corporations Act (Act No. 198 of 1951; the "ITICA") and the regulations promulgated thereunder as well as rules of the Investment Trusts Association, Japan (the "ITA"), which is a self-regulatory body for investment managers of investment trusts and investment corporations.

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