Retail scheme concentration
Check the unlisted, single company, sector and financial services limits for an open-ended retail scheme.
Source: Reg 47, IFSCA (Fund Management) Regulations, 2025.
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Unlisted 12.0% is within 15%.
Single company 12% exceeds 10%.
Sector 22% is within 25%.
Financial services 40% is within 50%.
Thematic and index schemes follow different single-company limits.
How to use this calculator
- Choose a mode. Simple asks one question at a time. Detailed shows every input on one page, with the working.
- Enter your figures in the units shown next to each box (USD, USD million or %). The result updates as you type.
- Read the outcome, then the working and the regulation it rests on. Use Start again to clear the figures.
Worked example
An open-ended retail scheme has USD 200 million of AUM: USD 24 million in unlisted securities, 12% in its largest company (no fiduciary approval), 20% in its largest sector and 45% in financial services.
What to notice: Only the single-company limit is crossed; with fiduciary approval the 15% limit would apply instead of 10%.
Result
14 Oct 2026Answer the questions to see your result here.
Outcome
1 of 4 limits breached
Unlisted 12.0% is within 15%.
Single company 12% exceeds 10%.
Sector 22% is within 25%.
Financial services 40% is within 50%.
Thematic and index schemes follow different single-company limits.
In simple terms
Unlisted 12.0% is within 15%. This is an indicative check against the provision named above. If the result is close to a limit or your facts are unusual, have it reviewed.
The figures
| Scheme AUM | USD 50 million |
|---|---|
| Unlisted securities | USD 6 million = 12.0% (limit 15%) |
| Largest single company | 12% (limit 10%) |
| Largest sector, other than financial services | 22% (limit 25%) |
| Financial services sector | 40% (limit 50%) |
How this is worked out
- Unlisted securities: up to 15% of AUM.
- Single company: up to 10% of AUM, or 15% with fiduciary approval.
- Any one sector other than financial services: up to 25% of AUM.
- Financial services sector: up to 50% of AUM.
- Thematic and index schemes follow different single-company limits.
Regulatory source
Reg 47: open-ended retail scheme limitsRelevant provisions
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Turn this result into a decision you can act on
Company Secretary & Compliance Officer, Global Horizons Capital Advisors (IFSC) Private Limited · FCS · 13+ years in compliance and governance
A tool points the way. CS Prashant Kumar checks your facts, structure and documents, then gives you a written view and a clear path to registration and compliance.
Each calculator gives an indicative result based on the figures entered and the provision named on it. It is not legal or professional advice. Check the full provision and your own facts, including any extension or relaxation granted.
Meet the expert
CS Prashant Kumar
Company Secretary & Compliance Officer
Global Horizons Capital Advisors (IFSC) Private Limited — an IFSCA-licensed investment banker
Published in The Chartered Accountant (Jun 2025, Jan 2025, Mar 2024) and Chartered Secretary (Aug 2023)
Prashant Kumar is a seasoned Company Secretary and corporate governance strategist with more than 13 years of experience advising large corporates, promoter-led groups and global businesses on compliance, regulatory risk and board governance. In GIFT IFSC, the IFSCA regime is his day job rather than a research topic.