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Securities regulator gives go-ahead to four more fund managers

| Publication date 23 April 2020 | 22:27 ICT

Securities regulator gives go-ahead to four more fund managers

The Security and Exchange Commission of Cambodia (SECC) will soon issue licences to four new fund management companies.

SECC director-general Sou Socheat confirmed to The Post on Thursday that the SECC has, in principle, approved a licence for AU Reits Co Ltd, Ants Capital Co Ltd, IS4KH Asset Management Plc and Belt Road Capital Management (Cambodia) Co Ltd.

“We require the companies to fulfil additional documents in order to officially receive a licence. We gave them one month to complete their application,” he said.

Socheat defined a fund management company as a business which enters into “joint ventures” with public participation to fund projects and share their benefits.

He said the SECC has issued five licences to fund management companies in the first quarter of this year.

The SECC also gave the green light to four trustee companies – Offshore Capital Trustee Co Ltd, Yuanhan Trust Investment Co Ltd, Prince Trust Co Ltd and GCCT Co Ltd.

Three brokers companies were approved as well – STMarket Co Ltd, Commo T Co Ltd and Universal Derivatives Exchange Co Ltd.

In February, the SECC issued fund management licences to Aegies Fund Management Plc and PLMP Venture Capital Co Ltd.

SECC deputy director-general Sok Dara told The Post in February that the licence grants them the right to raise funds from the public to invest in the Kingdom, noting that their projects must be registered with the SECC.

“It is a good sign that Cambodia is attracting more investors. This reflects strong growth in the fund management sector,” Dara said.

He said there has been a huge increase in market participants, such as the five central counterparties in the derivatives market, the 27 derivative brokers and the seven fund management companies licensed this year.

Market capitalisation increased 157 per cent last year to $800.39 million, said the SECC. Currently, there are five companies issuing shares and three companies issuing bonds.

The number of investors increased to 22,338. The average trading volume is 1,750,502 shares per month, equal to $4,221,490 per month, it said.

Contact author: Thou Vireak

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