A professional investor1 means a person
- whose ordinary business involves, whether for that person's own account or the account of others, the acquisition or disposal of property of the same kind as the property, or a substantial part of the property, of the fund; or
- who has signed a declaration that he, whether individually or jointly with his spouse, has net worth in excess of such sum as shall be specified in the Mutual Fund Regulations or its equivalent in any other currency and that he consents to being treated as a professional investor.
The Mutual Funds (Amendment) Regulations, 2010 specifies this sum as US$1,000,000.
1Securities and Investment Business Act, 2010