Mutual Fund

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, Professional, and Private and the functions and activities of each of these are in general commensurate with their categorization.