Regulatory Alerts2020-01-17
CIRCULAR APPOINTMENT OF FUND MANAGERS FOR 18 COLLECTIVE INVESTMENT SCHEMES
The Securities and Exchange Commission of Ghana issued this circular to update the status of new fund manager appointments for 18 Collective Investment Schemes following the revocation of previous managers' licenses. Six Mutual Funds have successfully appointed new managers, including Linx Capital Limited for CDH Balanced Fund Limited, while twelve funds, including All Time Bond Fund Limited and EM Balanced Unit Trust, have failed to meet the January 2020 deadline. The SEC will engage with the trustees and directors of the non-compliant funds to determine further actions in the interest of investors under the Securities Industry Act 2016.
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