Alert Sheet from Lexcel Partners–100% sub-contract of fund management by a SITE
Previously, the ruling of the Financial Supervisory Commission (FSC) dated December 30, 2010 permitted sub-contract of the fund management by a SITE to a third party, provided that the scope of the investment operation is limited to the jurisdictions out of Asia and Oceania. The FSC issued a new ruling on October 30, 2013 to further release the restriction and permit the full sub-contract and outsource of the fund management by a SITE to a third party on fund-by-fund basis, as long as the total investment amount of the fund in the areas other than Asia and Oceania exceeds 70% of its AUM.
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