Retail scheme investment limits govern unlisted holdings, issuer and sector concentration, associate exposure, and minimum scheme size.

Retail schemes are subject to limits on unlisted securities, single-company and sector exposure, associate investments, and scheme size. Open-ended schemes may invest up to 15% of AUM in unlisted securities, subject to an exception for eligible home-jurisdiction regulated investment funds. Single-company exposure is generally capped at 10%, extendable to 15% with fiduciary approval. Sector exposure is generally capped at 25%, and at 50% for financial services, subject to specified scheme exceptions. Retail schemes require a minimum size of USD 3 million, with transitional funding provisions for open-ended schemes.

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