Sophisticated investor fund
Given the nature of the investors in an Super Sophisticated Investor Fund and the requirements that are imposed on the service providers to such funds, the financial regulators are comfortable that it is appropriate to remove many of the listing conditions that generally apply and rely on a more disclosure-based regime. These investments may free from regulations that normally govern leverage, fee structures and liquidity requirements.
Investors must provide certain warranties relating to their minimum net worth and their understanding of the risks involved in investing in a SSIF. They must provide an accountant certificate which is less than 6 months old indicating that the Applicant has either net assets above a minimum amount or an income above a minimum threshold.
Typically this restriction is that The Investor has:
(i) Net assets of at least $2,500,000; or
(ii) A gross income for each of the last 2 financial years of at least $250,000 a year.