IFSCA Clarification on Family Investment Funds
• IFSCA (Fund Management) Regulations, 2022 (‘FME Regulations’) had introduced concept of Family Investment Fund (‘FIF’) in IFSC
-FIF defined to mean a self-managed fund pooling money only from a ‘Single Family’
‘Single Family’ defined as a group of individuals who are the lineal descendants of a common ancestor and includes their spouses (including widows and widowers, whether remarried or not) and children (including stepchildren, adopted children, ex nuptial children
