Block Tree Ltd (formerly Fusang Fund Management Ltd)

Fund Management Licence (Labuan)

Document IPFS CID:

Licensed to serve as a Fund Manager by the Labuan Financial Services Authority (LFSA), under the Labuan Financial Services & Securities Act (LFSSA) [s40 LFSSA 2010].

Primary activities

  1. Portfolio Management: Making investment decisions, executing trades, and managing investment portfolios on behalf of clients.
  2. Fund Establishment and Management: Establishing, operating, and managing investment funds, including setting investment strategies and overseeing fund operations.
  3. Investment Advice: Providing advice on investment opportunities, strategies, and portfolio composition tailored to the client's financial goals and risk tolerance.
  4. Custody and Administration: Offering custody of assets and providing administrative services, ensuring regulatory compliance, and offering operational support for the funds managed.
  5. Marketing of Funds: Actively marketing the investment funds under management within regulatory guidelines to attract potential investors.
  6. Handling Subscriptions and Redemptions: Managing the process for investors to subscribe to or redeem units or shares of investment funds, including transactions based on net asset value.

Other Permitted Activities

  1. Dealing in Securities: Engaging in the buying, selling, subscribing to or underwriting securities on behalf of funds or clients as part of investment management processes (s55(2) LSSA 2010; para 1.3 of Guidelines on the Establishment of Labuan Securities Licensee). I.e. the provision of investment management services should be its principal activity.

Handling of Client Monies

  1. For Labuan Fund Managers of public funds only, client assets must be deposited into a segregated trust account maintained by a trustee or custodian, no later than the next bank business day. The trustee or custodian must not be a related party to the Labuan Fund Manager. [s50 LFSSA 2010]
  2. For monies paid for securities in respect of a public securities offering, all monies must be paid to a Labuan trust company or bank licensee acting as agent for the issuer. [s16, s82 LFSSA 2010]

For all Labuan financial licensees undertaking digital financial services (DFS):

  • Client monies must be maintained in accounts separate from its own bank account and marked in its books as relating to each client’s account.
  • Client monies cannot be mixed with the firm’s general assets at any time;
  • Client monies must be readily identified at any time;
  • Client monies accounts need to be reconciled with internal records and client records at least monthly;
  • Withdrawal instructions is expected to be completed within 3 working days;