The Securities and Exchange Commission Ghana has directed fund managers, custodians, directors of mutual funds and trustees of unit trusts to strictly comply with investment spread and limit requirements for collective investment schemes (CIS), setting specific restrictions on investments in foreign securities. For CIS licensed to invest locally, fund managers may not invest more than 20% of funds under management in foreign securities. CIS licensed to invest 100% or to have substantial exposure to foreign securities must cap foreign securities holdings at 70% and retain 30% locally. Foreign securities investments must align with the definition of securities under section 216 of Act 929, be made only in approved eligible markets under Schedule 1, 7(2)(b) of the Unit Trusts and Mutual Funds Regulations, 2001 (L.I. 1695), and be limited to jurisdictions where the regulator is a full signatory to the International Organization of Securities Commissions Multilateral Memorandum of Understanding or has an information-sharing or capacity-building memorandum of understanding with the SEC.
Securities and Exchange Commission Ghana2026-02-04
Securities and Exchange Commission Ghana issues directive capping collective investment scheme exposure to foreign securities and tightening eligible market rules
The Securities and Exchange Commission Ghana mandates strict adherence to investment spread and limit requirements for collective investment schemes, capping foreign securities investments at 20% for locally-focused funds and 70% for those with substantial foreign exposure. Investments must comply with Act 929, be in approved markets, and involve jurisdictions with regulatory agreements with the SEC.