Segregated portfolio (sub-fund)

A segregated portfolio is one ring-fenced compartment of a segregated portfolio company. It has its own assets, liabilities, investors, share classes, NAV and track record, and is legally separated by statute from every other portfolio in the same company.

Investors subscribe for shares that are referable to a specific segregated portfolio, so their exposure is to that portfolio's assets alone. The portfolio can have its own investment manager, strategy, fee terms and dealing frequency, and it can be closed or wound up without affecting the others.

A segregated portfolio is sometimes called a sub-fund or a cell. It is not a separate legal person: contracts are entered by the SPC acting on behalf of the portfolio, which is why counterparties and custodians open accounts in the portfolio's name.

Why this matters for POD

A manager's fund on POD is a segregated portfolio. The manager keeps the strategy, brand and fund name; POD provides the SPC, the licences and the operations around it.

Interested in learning more about POD?
Book a demo

Fund Structure

Segregated portfolio company (SPC)
One Cayman or BVI company divided by statute into ring-fenced portfolios, each usable as a separate fund.
Fund Structure
Read term
Share class
A category of shares with its own fee, currency, minimum or liquidity terms, investing in the same portfolio.
Fees & Liquidity
Read term
Net asset value (NAV)
A fund's assets minus liabilities at a valuation point. Divided by shares in issue, it sets the dealing price.
Administration & NAV
Read term

Launch your fund in weeks, not months

Get in touch for a demo

Book a demo
Platform
Manager OSInvestor AppPOD DiscoverPricing
Company
AboutTrust & compliancePartnersBook a demo
Resources
FAQ

Status (Coming soon)

Newsletter
Occasional updates on fund infrastructure and new POD releases.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
We never share your details.
© POD 2026
POD is regulated as a fund administrator by the Central Bank of Ireland and as a fund manager in the BVI. Nothing on this site constitutes an offer to sell, or a solicitation of an offer to buy, any security or interest in any fund. Investment involves risk, including the possible loss of capital. Past performance is not a reliable indicator of future results.