The Bahamas SMART Fund Guide
The Investment Funds Act 2003 positioned The Bahamas at the cutting edge of modern investment fund administration and introduced a new style of collective investment scheme: The Bahamas SMART Fund.
Officially known as the Specific Mandate Alternative Regulatory Test Fund, the SMART fund is an innovative and dynamic asset management product designed to marry the flexibility needed by promoters with the regulatory responsibilities required by authorities within a risk based supervisory environment.
Local Regulators have accepted that asset management arrangements which cater to a limited number of professional investors should enjoy a supervisory approach which is tailored to the limited risks associated with this type of private arrangement.
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