Personal Investing

In the previous edition of The Educator, we discussed investment vehicles available under the Collective Investment Schemes
Control Act (CISCA). In this edition we briefly introduce wrap funds, also known as “model portfolios”, as an additional investment vehicle for investors to gain exposure to multi-managers.

There are two distinct multi-manager investment vehicles under the Collective Investment Schemes Control Act (CISCA)1,
namely Manager of Managers (MoM’s) and Fund of Funds (FoF’s). Although both vehicles combine / blend underlying managers, they differ in the manner in which they are constructed and implemented.