Local fund managers will be allowed to purchase international stocks with no more than 20% of the assets they are managing – SEC Ghana

Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.

In a circular issued late on Friday, the Securities and Exhange Commission, Ghana said that with immediate effect, local fund managers will be permitted to invest no more than 20% of assets under management in foreign securities.

Funds that were previously allowed to invest all of their assets offshore will now be capped at 70%, according to Reuters.

The regulator added that investments in foreign securities will only be permitted in jurisdictions that have information-sharing arrangements with Ghana’s SEC.

The move aligns with broader efforts by President John Dramani Mahama to retain capital within the domestic and regional economy.

Source: newsthemegh.com