Criteria for designation of professional fund

A mutual fund which satisfies the following conditions shall be designated as a professional fundfund. 8 (a) a mutual fund which was carrying on business or engaged in an activity as a mutual fund on the date of the coming into force of the Act; (b) the initial investments in respect of the majority of each of the investors in a mutual fund have been not less than one hundred thousand dollars or its equivalent in any other currency; and (c) the shares of the mutual fund are, after the commencement of these Regulations, made available only to professional investors.