Collective Investment Scheme (Global Fund)
A Collective Investment Scheme ('CIS' / Offshore Fund / Global Fund) is defined under the Securities Act 2005 as a scheme constituted as a company, a trust, or any other legal entity prescribed or approved by the Financial Services Commission in Mauritius:
- whose sole purpose is the collective investment of funds in a portfolio of securities, or other financial assets, real property or non-financial assets as may be approved by the FSC;
- whose operation is based on the principle of diversification of risk;
- that has the obligation, on request of the holder of the securities, to redeem them at their net assets value, less commission or fees; and
- where the participants do not have day to day control over the management of the property, whether or not they have the right to be consulted or to give directions in respect of such management.

