We then had to introduce what we called a "Quality Improvement Form" or QIF
to capture all other non-patient safety-related nonconformities and staff comments.
Exempt Funds and QIFs, which are Property Funds, will, under the proposals, be allowed to use the name REIT if they invest in income generating real estate and distribute 80% of their annual income.
Currently only a Public Fund is able to have 101 or more investors, with an Exempt Fund being limited to 100 or fewer investors and a Qualified Investor Fund ("QIF") to 50 or fewer investors.
Dubai: The Dubai International Financial Centre (DIFC), the tax free business park, launched the Qualified Investor Fund (QIF
) targeting wealthy investors requiring a registration process of 48 hours.
The qualified investor fund (QIF) adds to the suite of funds that can be domiciled in the DIFC.
"Given the nature of the regions investors and investment opportunities, a DIFC QIF domiciled fund is ideal for emerging market, Islamic and frontier market investment strategies and alternatives such as private equity, real estate and hedge funds."
The advantages of QIFs include not having to file interim reports on their operations, only annual reports; flexibility in appointing custodians; and exemption from some investment restrictions.
For example, a QIF can invest in a fund of funds, while funds of other types may be prohibited from doing so.
DIFC is currently working with a number of clients who are interested in issuing REITs, and many more on establishing QIFs
and Exempt Funds, which have the potential to be converted to REITs.
Unlike Public Funds and Exempt Funds, QIFs
are not subject to many of the compliance requirements under the DFSA Rules due to the perceived lower risk of these types of funds because of the higher minimum subscription amount and sophistication of the investors.