Collective Investment Schemes

Before any Collective Investment Scheme can be offered and promoted in Zambia, it has to be authorized by the Securities and Exchange Commission.
It is an offence under Section 122 of the Securities Act 2016 to promote a Collective Investment Scheme in Zambia which has not been authorized by the Securities and Exchange Commission.
Authorization to promote a collective investment scheme must be obtained by making an application to the Securities and Exchange Commission.
An application to the Commission for authorization should be accompanied by the following;

  • The scheme’s offering and constitutive documents
  • The scheme’s latest audited report (if any) and if more recent, the latest unaudited report.
  • The management company’s latest audited report and resumes of its directors
  • The trustee/custodian’s latest audited report
  • A letter of consent to the appointment from the trustee/custodian
  • A letter of consent to the appointment from the auditors of the fund
  • The prescribed application fee

In addition to the documents specified above, an application for the authorization of a non-Zambian based scheme shall include:

  • A Zambian representative agreement and
  • A Zambian covering document.

Authorized Local Collective Investment Schemes

    1. Laurence Paul Unit Trust Funds
    2. Madison Assets Management Company Unit Trust
    3. Intermarket Unit Trust
    4. Equity Capital Resources Unit Trust
    5. Mpile Unit Trust
    6. Kukula Capital Fund
    7. BancABC Unit Trust
    8. Patumba Unit Trust
    9. Altus Unit Trust
    10. Prudential Investment Fund
    11. Longhorn Unit Trust

Authorized Foreign Collective Investment Schemes
1. Imara Global Fund
2. Imara African Opportunity Fund
3. Franklin Templeton Investment Funds