Funds management is the overseeing and handling of a financial institution’s cash flow.
Fund Management license Applications
If your company wishes to conduct regulated fund management activities under the Securities and Futures Act (SFA), it must be registered with MAS or hold a capital markets services (CMS) license to operate either as a:
Registered fund management company (RFMC) or
Licensed fund management company (LFMC).
Managers of venture capital funds may also apply to operate under the venture capital fund manager (VCFM) regime.
Individuals performing key functions in a fund management company, such as portfolio construction and allocation, research and advisory, business development and marketing, or client servicing are required to be representatives.
You can find out more about fund management activity and the various types of fund management authorization statuses here.
MAS also publishes a Licensing and Registration Report for Capital Markets Intermediaries (including fund management companies) here.
What are the admission criteria and applicable requirements in Fund Management license Applications in Ghana?
When assessing an application to be an RFMC, LFMC or VCFM, MAS takes into account factors such as:
Fitness and propriety of the applicant, its shareholders and directors.
Track record and fund management expertise of the applicant and its parent company or major shareholders.
Ability to meet the minimum financial requirements prescribed under the SFA.
Strength of internal risk management and compliance systems.
Business model/ plans and projections and the associated risks.
In addition, your company would need to operate from a dedicated and secure office space that is accessible only by your company’s directors and staff.
For more information on the admission criteria and applicable requirements, please refer to the Guidelines on Licensing, Registration, and Conduct of Business for Fund Management Companies.
For more information on the common approvals, notifications, and other regulatory submissions relevant to fund management companies, please refer to the Compliance Toolkit for Approvals, Notifications, and Other Regulatory Submissions to MAS for Fund Managers.
VCFMs are subject to a simplified set of admission criteria – please refer to Appendix 7 of the aforementioned guidelines.