Types of investors

Which types of investors does a "qualified investor" include?


  • According to MAS (Regulations),

    8 October 2018

    “qualified investor” means —

    (a) an accredited investor, other than —

    (i) one who is a participant in a collective investment scheme referred to in subparagraph (b);

    (ii) one who is a holder of a unit in a closed-end fund referred to in sub-paragraph (c);

    (iii) one which is a corporation referred to in section 4A(1)(a)(ii) of the Securities and Futures Act or an entity referred to in regulation 2(b) of the Securities and Futures (Prescribed Specific Classes of Investors) Regulations 2005 (G.N. No. S 369/2005) —

    (A) which is related to or controlled by a person referred to in sub-paragraph (1)(d), or a key officer or substantial shareholder of such person; and

    (B) the shares or debentures of which are, after 28th May 2008, the subject of an offer or invitation for subscription or purchase made to any person who is not an accredited investor; or (iv) a corporation or an entity which is a collective investment scheme or a closed-end fund the units of which are, after 28th May 2008, the subject of an offer or invitation made to any person who is not an accredited investor;

    (b) a collective investment scheme the units of which are the subject of an offer or invitation for subscription or purchase made —

    (i) in Singapore only to accredited investors; or

    (ii) elsewhere if, after 28th May 2008, such offer or invitation is made only to accredited investors, or investors in an equivalent class under the laws of the country or territory in which the offer or invitation is made;

    (c) a closed-end fund the units of which are the subject of an offer or invitation for subscription or purchase made only to accredited investors, or investors in an equivalent class under the laws of the country or territory in which the offer or invitation is made;

    (d) any other person that MAS may, from time to time, by a guideline issued by MAS, determine.