The establishment of open and closed ended schemes, retail, professional, hedge, private equity and venture capital funds is permitted by the Companies Act, the Partnership Act and the Securities. Funds may also be set up as protected cell companies. As a reputable jurisdiction for fund structuring, Mauritius is widely used for investment particularly in the African continent, Asian countries and the Middle East. The Mauritian Government encourages the setting up of local fund management and advisory companies with local presence.