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      Question

      A Family Investment Fund in IFSC should have and

      maintain a minimum corpus of USD …………….. within a period of ……………… years from the date of obtaining certificate of registration as per the regulations for Fund Management Entities
      A 15 million, 3 years Correct Answer Incorrect Answer
      B 10 million , 3 years Correct Answer Incorrect Answer
      C 10 million, 2 years Correct Answer Incorrect Answer
      D 15 million, 2 years Correct Answer Incorrect Answer
      E None of the above Correct Answer Incorrect Answer

      Solution

      ·      Family Investment Fund could be set up in the IFSC as a Company, Trust (Contributory Trust only) or Limited Liability Partnership or any other form as may be permitted by the Authority from time to time. ·      A Family Investment Fund in IFSC should have and maintain a minimum corpus of USD 10 million within a period of three (3) years from the date of obtaining certificate of registration.

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