Sagil Lat. American Opp -A- NI B5MBLT1/ KYG777531040
It appears there are two funds/companies to look at (albeit with the same name) neither ISA qualifying.
The Cayman Island fund is a ‘mutual fund’ under Cayman Island law and would fall under the definition of an ‘open-ended investment company’ for ISA purposes. To qualify, it would need to be recognised by the FCA which isn’t the case. The prospectus is clear that the fund is not suitable for retail investors so it isn’t the sort of fund that would be able to get FCA recognised status. So, the fund is not ISA qualifying.
The Delaware company (which appears to invest wholly in the Cayman Island fund) is set up as a ‘limited partnership’ in the US and, based on previous research and feedback from HMRC, such a partnership wouldn’t meet the definition of a ‘company’ for ISA purposes so any shares issued by the partnership couldn’t, therefore, meet the criteria for ‘qualifying shares’. So, shares in this partnership will not be ISA qualifying.