GSX lists open ended and closed ended funds including but not limited to:
- Hedge Funds
- Private Equity Funds
- Multi-manager Funds
- Property Funds
- Venture Capital Funds
- Emerging market Funds
- Derivate Funds
GSX lists funds from all of the major fund and financial jurisdictions globally listed here.
Closed-Ended Funds on the Main Market
Other than the conditions specified in the GSX Listing Code for Closed-Ended Collective Investment Schemes, the following general conditions must be met for those wishing to apply for a listing:
- A Closed-Ended CIS seeking admission must publish a prospectus that has the prior approval of the Home Member State (i.e. complies with the EU Prospectus Directive). GSX has published a Closed-Ended CIS Prospectus Handbook which helps the applicant prepare the prospectus.
- The legal position of the applicant must be in conformity with the laws and regulations to which it is subject, both as regards its formation and its operation under its statutes. The legal position of the shares must be in conformity with the laws and regulations to which they are subject.
- The shares must be freely negotiable
- Applicants must be a Closed-Ended CIS and must be licensed, registered, authorised and/or regulated by the Competent Authority of a GSX Recognised State or be otherwise acceptable to GSX Limited and the Listing Authority.
- The applicant must have published or filed its annual accounts in accordance with its national law for the last three financial years ending before the date of the application.
- A sufficient number of shares must be distributed to the public (at least 25%).
- The controllers of the applicant must be able to demonstrate their ability to act independently of any appointed investment manager of the applicant.
- The market capitalisation of the shares for which admission to official listing is sought must be an amount in sterling equivalent to at least €1,000,000.
- Once listed, applicants must continue to comply with all the requirements of the GSX Listing Code for Closed-Ended Collective Investment Schemes.
- Annual accounts must be made public within 4 months of year-end, half-yearly within 3 months.
- NAV’s must be reported promptly
- Any changes to rights
- Dissemination of information equally to all holders of shares