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11.11.2019 Business & Finance

[List] Remaining Fund Managers After SEC Mass Clean-Up

By News Desk
[List] Remaining Fund Managers After SEC Mass Clean-Up

The Securities and Exchange Commission (SEC) last Friday revoked the licenses of 53 fund management companies citing several regulatory breaches.

A press release issued by SEC said the companies among other things failed to honour clients' redemption requests, placed funds in unregulated investments, used clients' funds to fund related parties' activities.

Out of the 53 companies, 21 had already ceased operations with the remaining 32 still in operation at the time their licenses were revoked.

Following the mass license revocation, SEC published a list of the outstanding fund management companies on its website. Although 83 fund managers remain after the clean-up, SEC stated that there are 11 companies that have unresolved issues with the regulator.

List of Fund Managers remaining after the license revocation exercise.

  1. 10th Capital Investments Limited
  2. Afina Asset Management
  3. Africa Trust Capital Limited
  4. Algebra Capital Management Limited
  5. Avant Capital Limited
  6. Black Star Advisors Limited
  7. Bora Capital Advisors Ltd.
  8. Boulders Advisors Limited
  9. CAL Asset Management Limited
  10. Capstone Capital Limited
  11. CBL Investment Services Ltd.
  12. Chapel Hill Denham Management Ltd.
  13. Cidan Investments Limited
  14. Continental Capital limited
  15. Cornerstone Captial Advisors Limited
  16. Crystal Capital & Investment Ltd.
  17. Dalex Capital Ltd.
  18. Databank Asset Management Services Limited
  19. Delta Capital Limited
  20. Dusk Capital Limited
  21. E.D & Co Capital Partners Limited
  22. Ecobank Capital Advisors Limited
  23. EcoCapital Investment Management Limited
  24. EDC Investments Limited
  25. EGAS Capital Ltd
  26. Everbond Financial Services Limited
  27. Fairnet Capital Limited
  28. Family Fountain Assets and Securities Limited
  29. Fidelity Securities Limited
  30. First Atlantic Asset Management Co. Limited
  31. First Finance Company Ltd
  32. Gateway Wealth Management Limited
  33. GLICO Capital Limited
  34. Glorygate Capital Ltd.
  35. Halifax Asset Management
  36. HMI Management Services Limited
  37. IC Asset Managers (Ghana) Limited
  38. IFS Capital Management Limited
  39. IGS Financial Services Limited
  40. Intrepid Investment Advisory and Asset Management Limited
  41. Investa Capital Fund Management Ltd
  42. Investcorp Asset Management Ltd
  43. InvestEye Capital Partners Ltd
  44. Investiture Fund Managers Ltd
  45. Investrust Capital Ltd.
  46. Linx Capital Limited
  47. NA Jones Capital Limited
  48. National Trust Holding Company Limited (NTHC)
  49. NDK Capital Limited
  50. New Generation Investment Services Limited
  51. NewCase Capital Limited
  52. Nimed Capital Limited
  53. Octane Sd Limited
  54. Orialles Capital Ltd
  55. Oya Capital Ltd
  56. Parkstone Capital Ltd
  57. Pent Asset & Wealth Management Ltd.
  58. PhoenixAfrica Securities Limited
  59. Premium Place Investments Ltd.
  60. Prestige Capital Limited
  61. Prudential Securities Limited
  62. RAD Business Advisory Network Centre Ltd
  63. Regal Alliance Investment Ltd.
  64. Reliance Capital & Asset Finance Limited
  65. Renaissance Africa Group Limited
  66. Republic Investments (Ghana) Limited
  67. Salem Financial Services Limited
  68. SAS Investment Management Limited
  69. SDC Capital Limited
  70. SEM Capital Advisors Limited
  71. Serengeti Asset Management Limited
  72. SIC Financial Services Limited
  73. Solange Capital Partners Limited
  74. Stanlib Ghana Limited
  75. Star Asset Fund Management Ltd
  76. Steward Capital Partners Limited
  77. Temple Investments Ltd.
  78. TTL Capital Limited
  79. UMB Investment Holdings Limited
  80. Union Capital Limited
  81. WAICA RE Capital Limited
  82. Wealth Management Limited
  83. Worldwide Investments Co. Limited

The highlighted companies, according to SEC, are Fund Managers with major regulatory issues: pending complaints, suspension etc.

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