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Six fund managers in Ghana fold up

Director General of the Securities and Exchange Commission, Daniel Ogbarmey Tetteh
  • The Securities and Exchange Commission (SEC) of Ghana have said that 6 fund managers have voluntarily ceased operation in Ghana.
  • In a statement, the SEC said it has approved their request after a thorough assessment.
  • SEC cautioned the public against doing business with the 6 firms from henceforth.

The Securities and Exchange Commission (SEC) of Ghana has indicated that six fund managers have voluntarily requested to cease operation in the country for varying reason.

The SEC issued a public notice pursuant to Sections 3(b) (f) (m) and 208 (c) of the Securities Industry Act, 2016 (Act 929).

The fund managers include HFC Capital Partners Limited, Attai Capital Limited, Serengeti Capital Limited, Indigo Investment Management Limited, Verit Investment Advisory Limited and Waxson Investment, and Pension Management Limited.

The statement indicated that the Commission has after a thorough assessment of the circumstances, approved their requests.

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The six companies are, therefore, not mandated to carry out any fund management activities.

The statement further warned that “anyone who engages in any transaction with any of these companies or their representatives, in their capacity as Fund Managers could be exposing him/herself to avoidable risk.”

“The Commission, hereby, assures all investors, market operators and the general public that it is committed to ensuring rigorous enforcement of all the rules for operators in the capital market in order to promote the growth and development of an efficient, fair and transparent securities market in which investors and the integrity of the market are protected”, the SEC added.

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