30.11.2022 Diana Ribeiro Duarte, Mara Rupia Lopes, Pedro Capitão Barbosa, Clara Almeida • Lexology

Asset management and private equity in Mozambique - Part III

Diana Ribeiro DuarteMara Rupia LopesPedro Capitão Barbosa e Clara Almeida signed the article "Asset management and private equity in Mozambique - Part III", published in Lexology.

«III – Investment funds and fund managers

1. Background

As in all other market economies, Mozambique has identified the need to promote investment in the capital markets through investment funds: investment funds allow individuals or legal entities to gain exposure to classes of assets which many times they would not be able to access on their own, as well as to benefit from low-cost diversification and from the monitoring of the final investments by a team of experts.

In order to legally frame investment funds, the government approved Decree no. 54/99, of September 8, which established, for the first time, a legal regime specifically applicable to investment funds and their management companies, focusing, in particular, in the scope, taxonomy, management, incorporation, operation and winding-up of these investment vehicles.

More recently, in 2019, the Bank of Mozambique (“BM”) has approved Notice no. 6/GBM/2019, where it sets out the ratios and prudential limits of the investment funds, by defining a set of rules that regulate the composition of the respective portfolios (…) ».

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