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  • CIR 3.1.10 CIR 3.1.10

    A Fund is an Umbrella Fund if the contributions of the Unitholders in the Fund and the profits or income out of which payments are to be made to them are pooled separately in a number of Sub-Funds constituting separate parts of the Fund Property.

    Derived from RM72/2010 (Made 11th July 2010). [VER13/07-10]

    • CIR 3.1.10 Guidance

      1. An Umbrella Fund may be constituted as a Protected Cell Company.
      2. Unitholders of an Umbrella Fund are entitled to exchange rights they have in one Sub-Fund for rights in another Sub-Fund of the same Umbrella Fund — see Article 11(2) of the Law.
      3. A Sub-Fund of an Umbrella Fund is not a Feeder Fund or any other form of a discrete Fund.
      Derived from RM72/2010 (Made 11th July 2010). [VER13/07-10]