FAQ
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Identity Questions
The Stewards Group comprises companies wholly owned and controlled by Stewards Global Holdings Limited, an investment holding company based in Mauritius. The company is licensed and regulated by the Mauritius Financial Services Commission (FSC).
The following companies are owned and controlled by Stewards Global Holdings Limited: Stewards Investment Capital Limited, Stewards International Funds PCC, Stewards (International) Limited and Stewards Treasury Solutions Limited.
Stewards Global Holdings Limited holds FSC licence number GB25205521.
Stewards Investment Capital Limited is an investment adviser licensed by the Financial Services Commission of Mauritius. It holds an Investment Adviser (Unrestricted) licence (SEC 2.4) and an Investment Adviser (Corporate Finance Advisory) licence (SEC 2.5A).
Stewards Investment Capital Limited was incorporated in 2017 and serves as the advisory arm of the Stewards Group.
Stewards Investment Capital Limited holds FSC licence number C116016616.
Stewards International Funds PCC is a collective investment scheme with a protected cell company structure, licensed by the Financial Services Commission of Mauritius. It holds a CIS (Protected Cell Company) licence (SEC 3.1Cv).
Stewards International Funds PCC was incorporated in 2007 and holds the investments of the Stewards Group’s investment schemes.
Stewards International Funds PCC holds FSC licence number C107004500.
Stewards (International) Limited is a collective investment scheme manager licensed by the Financial Services Commission of Mauritius. It holds a CIS Manager licence (SEC 4.2).
Stewards (International) Limited was incorporated in 2007 and serves as the investment manager of Stewards International Funds PCC.
Stewards (International) Limited holds FSC licence number C102000433.
Stewards Global Holdings Limited, Stewards Investment Capital Limited, Stewards International Funds PCC and Stewards (International) Limited are regulated by the Mauritius Financial Services Commission (FSC).
As regulated entities, they are subject to the applicable regulatory requirements and oversight of the Mauritian financial regulator. This includes compliance monitoring, regulatory reporting and the submission of financial statements and other required information, in accordance with the applicable laws and regulations.
None of the entities within the Stewards Group has been subject to enforcement action by any financial regulator. This includes the Mauritius Financial Services Commission, the Financial Sector Conduct Authority of South Africa, the Financial Conduct Authority of the United Kingdom, and the Securities and Exchange Commission of the United States of America.
The Stewards Group regularly engages with the jurisdictions in which these regulators operate and is committed to maintaining regulatory compliance in line with applicable international standards.
The Stewards Group maintains strict controls and procedures to safeguard funds and investments. These include, but are not limited to:
- Limiting the outsourcing of core financial, transactional and compliance operations.
- Implementing robust legal and cybersecurity controls for employees and contractors.
- Ensuring the segregation of client assets through third-party custodians and brokerages.
Furthermore, the Group’s directors, executive officers and non-executive officers collectively bring extensive knowledge and experience in the financial industry and markets, benefiting the clients of the Stewards Group.
Each company within the Stewards Group has an appointed external financial auditor and an internal auditor who conduct audits on an annual basis. The entities also report to an independent administrator and company secretary, Mauri Experta Ltd, which is licensed and regulated by the Mauritius Financial Services Commission.
The Stewards Funds are the proprietary investment funds of the Stewards Group. They are established under Stewards International Funds PCC as individual cells, each operating as an independent collective investment scheme.
As of the date of this statement, the Stewards Group has three active proprietary investment funds: the Stewards Private Credit Fund, the Stewards Income Growth Fund and the Stewards Alternative Asset Fund.
All Stewards Funds are managed by Stewards (International) Limited.
The protected cell company structure of Stewards International Funds PCC is a specialised structure established under the Protected Cell Companies Act 1999, designed to accommodate umbrella fund structures.
Under this structure, the assets of each Stewards Fund are legally segregated, such that creditors of one cell generally cannot have recourse to the assets of another cell. This segregation is further supported operationally by Stewards International Funds PCC maintaining separate bank and investment accounts for each Stewards Fund.
The Stewards Private Credit Fund invests in the private credit market through a range of instruments, including direct private credit investments, debt securities backed by private credit, debt securities issued by private credit operators, and equity investments in private credit operators.
The Fund’s objective is to provide investors with direct and indirect exposure to the private credit market.
The Stewards Income Growth Fund invests in income-generating securities, including but not limited to bonds, notes, debentures, structured products and collateralised obligations.
The Fund’s objective is to achieve sustained growth by generating consistent income streams.
The Stewards Alternative Asset Fund invests in alternative asset classes and non-traditional securities. Currently, the Fund has two distinct investment focuses, each segregated through a separate share class.
The first share class, Spectrum, focuses on frontier technologies through investments in listed securities and pre-IPO opportunities. The second share class, Zenith, invests in Shariah-compliant securities.
The Stewards Private Credit Fund and the Stewards Income Growth Fund each offer two share classes: a senior share class and a junior share class. The senior share classes have fixed subscription and redemption prices and provide fixed monthly distributions, while the junior share classes are growth or accumulation shares.
Both Funds operate under a waterfall structure, whereby the senior share classes receive their fixed monthly distributions in priority to the junior share classes, which receive the residual. This arrangement is designed to provide the senior share classes with an additional layer of capital protection, although it does not eliminate investment risk.
For the Stewards Private Credit Fund, the senior share class is called Apex, and the junior share class is called Alpha.
For the Stewards Income Growth Fund, the senior share class is called Secure, and the junior share class is called Nexus.
The Stewards Group and Stewards Inc. (NASDAQ: SWRD) are deemed affiliates under the regulatory framework of the U.S. Securities and Exchange Commission (SEC). Through Stewards Investment Capital Limited and Stewards International Funds PCC, the Stewards Group holds several investment interests in Stewards Inc.
This relationship and the associated investment interests are publicly disclosed on the SEC EDGAR website.
