Labuan Mutual Funds & Labuan Islamic Mutual Funds
- Means a Labuan company, a corporation incorporated under the laws of any recognised country or jurisdiction, a partnership, a protected cell company, a foundation or a unit trust which:
- Collects and pools funds for the purpose of collective investment with the aim of spreading investment risk; and
- Issues interests n a mutual fund that allows investors to redeem their investments based on the net asset value, and includes an umbrella fund with multiple classes or subfunds that allow participants to exchange rights between different parts of the fund.
- Two types of funds are prescribed under the LFSSA 2022, namely
- Labuan Islamic mutual funds shall operate in compliance with Shariah principles