Securities and Exchange Commission boss, Rev. Daniel Ogbarmey Tetteh
The Securities and Exchange Commission (SEC), has described as misconception assertions that the Commission is manipulating investment funds with its mark-to-market method of evaluating portfolios.
Investors in Mutual Funds and other bond instruments have since the beginning of the month had to settle for amounts much lesser than their investments with many fund managers attributing this development to a directive by the regulator SEC.
Commenting on the development on the Morning Starr with Francis Abban Tuesday, the Director-General for SEC, Rev. Daniel Ogbarmey Tetteh refuted any form of foul play by the regulator.
According to him, the directive is simply a response to present market conditions as he also admonishes investors to allow their investments mature to preserve their true value.
“The mark-to-market does not change the underline investment, it just says that today what the prevailing market value is. If you know the prevailing market value or price and when you sell you will lock in a loss. It will advise you not to do so but rather to hold for the market conditions to change,” Mr. Ogbarmey Tetteh clarified.
