SEC New Rules on Collective Investment Schemes - Forging Ahead

The Securities and Exchange Commission (“SEC”) has recently been on a drive to encourage the creation of collective investment schemes in Nigeria and investments by the public in collective investment schemes. This drive, it seems, is not misplaced. The diversified nature of collective investment schemes has ensured that the many funds set up in Nigeria as collective investment schemes have significantly withstood the effect of the COVID-19 pandemic on the Nigerian economy.

Other than equity-based funds which have recorded a decline, the net asset value of most funds has increased over the past three months. According to the data collated by the SEC, as at June 11, 2020, the total net asset value of collective investment schemes in Nigeria was N1.258 trillion compared to N747.95 billion as at June 14, 2019.

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