Management companies are legal entities established as an incorporated company whose sole purpose is to manage mutual funds.

Management companies include UCITS management companies, securitization trusts and venture capital funds management companies.

Exception made to UCITS management companies. Management companies are subject to approval of the Ministry of Finance, after obtaining the AMMC opinion.

UCITS management companies

UCITS Management Company is an incorporated company whose sole purpose is the management of open ended mutual funds (SICAV) and mutual funds. The management company:

• manages the portfolio of securities and  UCITS liquidity, in accordance with the law and the investment policy disclosed in their information documents;
• Initiates the purchase and sale  on behalf of managed funds;
• Conducts portfolio valuation and calculates the liquidation value ;
• Is responsible for informing investors and the public.

Venture Capital Management Companies

Venture Capital management companies are incorporated companies whose sole purpose is the management of Venture Capital Companies and Venture Capital funds.

The Venture Capital management company:

• Initiates the creation of venture capital funds and, where appropriate, of Venture Capital Companies;
• Places the venture capital funds it manages in accordance with law and the investment policy provided in their disclosure documents;
• Is responsible for informing investors and the public.

Securitization Trusts management companies

Securitization Trusts management companies are incorporated companies whose sole purpose is the management of Securitization Trusts. The Securitization Trusts Management Company:

• Performs on behalf of the Securitization trust the acquisition of eligible assets;
• Issue, on behalf of the Securitization trust, securities that can either be stakes, shares, debt securities or certificates of sukuk;
• Manages receipts and payments of the Securitization trust as well as its liquidity;
• Pays the initiator the agreed upon counterparty for the transfer of assets;
• Is responsible for informing investors and the public.