# NS Management Ltd

> NS Management Ltd is an SEC-registered investment advisory firm in Devonshire, Devonshire, Bermuda, registered since 2018, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated June 17, 2026.

- CRD: 297781
- Filed as: NS MANAGEMENT LTD
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Devonshire, Devonshire, Bermuda
- Filing period: October 2026
- Form ADV filing dated: June 17, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/297781
- AdvisorCensus page: https://advisorcensus.com/firm/ns-management-ltd-devonshire-devonshire-297781

## Quick answers

**How is NS Management Ltd compensated?**
On its Form ADV (Item 5.E, October 2026), NS Management Ltd reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**Where is NS Management Ltd located?**
NS Management Ltd's principal office is in Devonshire, Devonshire, Bermuda, according to its Form ADV.

**Is NS Management Ltd registered with the SEC or a state?**
NS Management Ltd is an SEC-registered investment advisory firm, registered since 2018. Status as filed: Approved. CRD 297781.

**How much does NS Management Ltd manage?**
NS Management Ltd reports $850,270,592 in regulatory assets under management in its Form ADV filing dated June 17, 2026 (100% discretionary).

**How have NS Management Ltd's assets and staff changed since 2021?**
In the Form ADV data for NS Management Ltd: Regulatory assets under management: $772,562,714 in the October 2021 data and $850,270,592 in the October 2026 data, up 10%. Total employees: 3 in October 2021 and 2 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does NS Management Ltd serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (7); corporations or other businesses not listed above (7); individuals (other than high net worth individuals) (6).

**Which custodians does NS Management Ltd use?**
NS Management Ltd's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists HSBC Securities Services, Kleinwort Benson (Jersey) Ltd and Royal Bank of Canada (Channel Islands) Ltd as custodians holding 10% or more of its separately managed account assets.

**Does NS Management Ltd report any disciplinary disclosures?**
Reports 1 disclosure item on Form ADV Item 11: yes answers to 11.H(2) (pending civil proceeding). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/297781

**Does NS Management Ltd state an account minimum?**
Its Form ADV Part 2A brochure dated March 12, 2026 says: "Generally, NSM seeks client relationships with a minimum of $1,000,000 of AUM. NSM may accept accounts below the minimum requirements, and will retain accounts that have dropped below the minimum requirement due to market fluctuation or investment performance."

**What changed in NS Management Ltd's recent Form ADV filings?**
In the July 2026 filing data: Item 11 disclosure answers changed: 1 yes answer, previously 0 (now yes: 11.H(2)).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Fees and minimums (Form ADV Part 2A brochure dated March 12, 2026)

- Account minimum: $1,000,000

> Generally, NSM seeks client relationships with a minimum of $1,000,000 of AUM. NSM may accept accounts below the minimum requirements, and will retain accounts that have dropped below the minimum requirement due to market fluctuation or investment performance.

- Minimum annual fee: None

> There is no minimum annual fee per account. In all cases, NSM may waive, discount or negotiate fees at its discretion.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- HSBC Securities Services
- Kleinwort Benson (Jersey) Ltd
- Royal Bank of Canada (Channel Islands) Ltd

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $850,270,592
- Discretionary: $850,270,592
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 6 | $161,229,270 |
| High net worth individuals | 7 | $26,178,894 |
| Sovereign wealth funds and foreign official institutions | Fewer than 5 | $446,047,656 |
| Corporations or other businesses not listed above | 7 | $216,814,772 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2018 (8 years)
- Employees: 2 total, 2 performing advisory functions
- Wrap fee program participation: No
- Disclosures (Item 11): Reports 1 disclosure item on Form ADV Item 11.

### Item 11 questions answered yes
- 11.H(2): Is the firm or an advisory affiliate now the subject of a civil proceeding that could result in a yes answer to any part of 11.H(1)?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/297781

### Websites listed on Form ADV (Item 1.I)
- nsmb.bm

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $772,562,714 | 3 | March 26, 2021 |
| October 2022 | $797,997,226 | 3 | March 4, 2022 |
| October 2023 | $729,561,965 | 3 | April 24, 2023 |
| October 2024 | $784,743,261 | 2 | March 13, 2024 |
| October 2025 | $845,713,472 | 2 | March 14, 2025 |
| October 2026 | $850,270,592 | 2 | June 17, 2026 |

Regulatory assets under management: $772,562,714 in the October 2021 data and $850,270,592 in the October 2026 data, up 10%.
Total employees: 3 in October 2021 and 2 in October 2026.

## Changes in the filing (last 12 months)

### July 2026
- Item 11 disclosure answers changed: 1 yes answer, previously 0 (now yes: 11.H(2)).

### April 2026
- Updated its list of owners and control persons (Schedule A).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. NS Management Ltd (CRD 297781): Form ADV filing data as of October 2026.