Fund managers should reflect true market value of investment in fixed income portfolio – SEC

The Director General of the Securities and Exchange Commission (SEC), has directed fund managers to be transparent with investors who attempt to withdraw their monies.

Speculations remain rife in the investment space amid concerns government’s talks with the International Monetary Fund (IMF) will see investors lose money.

Some have already started withdrawing and receiving lesser amounts.

SEC which regulates the space blames the current economic situation for the trend.

But in an interview aired on Joy FM’s Midday News on Thursday, Rev Daniel Ogbamey Tetteh said fund managers should reflect the true market value of investments in fixed-income portfolios.

“In other words, you want to tell the investors that, well because of where interest rates are, the value of the investments is so much. If I have to sell the bonds today to pay you, I will have to sell at the prevailing market price, not at the fixed value but that is how it works,” he explained.

source: myjoyonline.com