Jurgen Boyd is the head of Collective Investment Schemes at the Financial Services Board, South Africa's regulatory body. He is directly responsible for devising new regulations to govern the country's hedge fund industry.
Are you primarily interested in regulating the hedge fund industry or in providing a regulated hedge fund product?
We don't want to regulate the hedge fund market. We are seeking to create space for a regulated CIS hedge fund product within the existing legal framework.
Is South Africa therefore heading towardsan industry that will have regulated hedge funds existing beside unregulated hedge funds?
That could very well happen. At the moment, we have an unregulated industry. Whether hedge funds choose to play in the regulated space will be entirely up to them. It's not going to be compulsory. My colleagues, who are responsible for regulating all investment managers and intermediaries, are putting into place...