In accordance with section 88 (6) of the Securities Industry Act, 2019 (Act 929), Boards of Directors (for Mutual Funds) and Trustees (for Unit Trusts) of the 18 Collective Investment Schemes (CIS) whose Managers have had their licences revoked were directed by the Securities and Exchange Commission on 15th November 2019 to appoint new Fund Managers for the management of the CIS.
As at the date of this circular, the Directors of two Mutual Funds have successfully appointed two Fund Managers as follows:
Linx Capital Limited replaces Intermarket Asset Management Limited (formerly CDH Asset Management Limited) as Fund Manager of CDH Balanced Fund Limited.
Waica Re Capital Limited replaces Sirius Capital Limited as Fund Manager of Sirius Opportunity Fund Limited.
In view of requests received by the Commission from some Boards and Trustees, the SEC hereby extends the deadline for the appointment of the new Fund Managers for the affected CIS to 10th January 2020. All Directors and Trustees of the affected CIS should ensure that they comply with the new deadline.
BY ORDER OF
SECURITIES AND EXCHANGE COMMISSION
DATED THE 23RD DECEMBER, 2019
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PUBLIC NOTICE TO ALL DIRECTORS OF MUTUAL FUNDS AND TRUSTEES OF UNIT TRUSTS MANAGED BY FUND MANAGEMENT COMPANIES WHOSE LICENCES HAVE BEEN REVOKED
Last modified: December 24, 2019