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Collective Investment Schemes – Consultation on Specialist and Qualifying Investment Funds 1 August 2007

In March 2007, in an initiative sponsored by Isle of Man Treasury, the Funds Review Group (“FRG”) published a report which looked at the future opportunities for the Island’s funds industry. Amongst its recommendations, the FRG advocated the introduction two new fund types, one targeted at the institutional funds market and another aimed at non retail investors. There are also implications for existing Experienced Investor Funds.

The Commission has today published consultation on proposals to introduce two new types of Collective Investment Schemes – the Specialist Investment Fund and the Qualifying Investment Fund. The Commission welcomes responses on any aspect of this consultation and would be grateful if comments could be submitted by 31st August 2007. The consultative paper can be found on the Commission’s website at: Consultation on Specialist and Qualifying Investment Funds.

Enquiries: Mrs Claire Whitelegg - Senior Adviser - Policy & Legal Unit - Direct Line: 01624 689332 Email:

claire.whitelegg@fsc.gov.im

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