Subscription Agreement - A Section 3C1 Fund
Description What Is A 3c1 Fund
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FAQ
3C1 funds are also referred to as 3C1 companies or 3(c)(1) funds. The result of 3C1 is that it allows hedge fund companies to avoid the SEC scrutiny that other investment funds, such as mutual funds, must adhere to under the Act.
In other words, 3C1 allows private funds with 100 or fewer investors and no plans for an initial public offering to sidestep SEC registration and other requirements, including ongoing disclosure and restrictions on derivatives trading. 3C1 funds are also referred to as 3C1 companies or 3(c)(1) funds.
What Is 3C7? 3C7 refers to a portion of the Investment Company Act of 1940 that allows private funds meeting specific criteria an exemption from some Securities and Exchange Commission (SEC) regulation. 1 3C7 is shorthand for the 3(c)(7) exemption.
Q: CAN THE 3C7 FUND EXCLUSION AND THE 3C1 FUND EXCLUSION BE COMBINED IN A SINGLE FUND IN WHICH THE INVESTORS CONSIST OF QUALIFIED PURCHASERS PLUS UP TO 100 OTHERS? A: No, except in the case of a fund that was in existence on September 1, 1996 and satisfies certain additional requirements.
What's the definition of a hedge fund? Well, simply put, a hedge fund is nothing more than an investment company that invests its clients' money in alternative investments to either beat the market or provide a hedge against unforeseen market changes. Obviously, though, there is much more to it than that.
The key differentiator here is that qualified purchasers are a relevant classification for funds who want to maximize their assets under management. By contrast, accredited investors are a relevant classification for the ability to invest in certain types of assets (namely, private market securities).
To be an accredited investor, a person must have an annual income exceeding $200,000 ($300,000 for joint income) for the last two years with the expectation of earning the same or a higher income in the current year.