Complaints Trail AIMS Asset Management Ltd

By Modupe Gbadeyanka

Several complaints are currently trailing a fund/portfolio manager in the capital market, AIMS Asset Management Limited.

According to the Securities and Exchange Commission (SEC), these complaints centre around the private placements of Petdrill Development Company Limited and AIMS Assurance Company Limited.

In a statement signed by management of the capital market regulator, it said it “received various complaints against AIMS Asset Management Limited who solicited and marketed private placements for two private companies namely Petdrill Development Company Limited and Aims Assurance Company Limited.”

SEC noted that while investigating the activities of the registered Capital Market Operator, it “observed that the said private placements and the securities of the private companies were not under the regulatory purview of the commission.”

“In view of the above, the general public is hereby INFORMED, that the Commission does not regulate private placements by private companies and therefore, the respective investors are advised to contact the said companies for their share certificates,” the statement said.