Astana financial regulator AFSA has allowed management companies of Non-Exempt Funds to handle fund administration in-house until July 31, 2027, rather than having to appoint a separate administrator.
Under an amendment to Rule 8.2(a) of the AIFC Collective Investment Scheme Rules, fund managers may operate Non-Exempt Funds (excluding real estate investment trusts) without an independent administrator, provided they handle fund administration separately from portfolio management. After July 31, 2027, the fund manager and administrator roles must be split.
During the transition period, fund managers must disclose in the fund’s offering materials that they are handling administration internally, and notify AFSA by March 31, 2027, on which administrator they plan to hire and by what date. AFSA stressed that this is a temporary carve-out that will not be extended. Starting August 1, 2027, funds operating without a regulator-approved administrator will face supervisory and enforcement action.