The Capital Markets Authority is using the Capital Markets (Collective Investment Schemes) Regulations, 2023 to drive product expansion while tightening oversight, approving at least eight new collective schemes and multiple sub-funds in 2025 alone. These approvals have lifted the number of licensed CIS to around 55 by mid-2025, up from under 40 a year earlier, with roughly 70–73 percent currently active.Â
The revamped rules sharpen requirements on approvals, custody, valuation, disclosure and key investor information documents, and make clear that managers, trustees and custodians remain liable for negligence and mismanagement. As the new year approaches, the approvals wave is creating a more crowded, diversified market—raising the bar on differentiation, compliance and risk controls for both incumbents and new entrants.
