The Fund Managers Association of Nigeria “FMAN” is an independent, non-governmental, non-political and non-profit making body was established in August, 2009 to promote the operations of Fund Managers registered with the Securities and Exchange Commission in Nigeria (‘’SEC’’), provide for self-regulation and supervision of SEC registered Fund Managers and ensure the observance of global best practices relating to the operations of such Fund Managers.
The aim of the Association is to address all the issues affecting the industry’s development and represent its members at national and international levels in ongoing discussion about the future regulatory framework for the industry.
The association’s focus is on education, regulation, policy development and international best practices for the benefit of its members, institutional investors, Policy makers and other stake holders.
- identify, discuss and articulate reviews and updates of rules and regulations governing the operations of fund Managers;
- organize seminars, workshops and other fora aimed at discussing the conduct of fund Managers with regard to the management of Collective Investment Schemes in order to promote the highest level of ethics and professionalism amongst Fund Managers;
- disseminate information to the public on the theory and practice of fund management through the most appropriate media.
- undertake activities aimed at improving awareness of the fund management sub-sector;
- interact with regulators, government, society and other organizations to advance the practice of fund management in Nigeria
- The Membership of the Association shall consist of any limited liability company or firm licensed to operate as Fund/Portfolio managers, Venture capital manager, Private equity fund manager in Nigeria by the SEC.
- Trustee firms with dual licenses as Fund/Portfolio managers are also eligible for membership of the Association.
- Each member shall nominate its authorised individual representative who shall represent it at activities of the Association. The representatives of member firms shall be SEC registered sponsored individuals
- Upon payment of membership dues, the member firm shall be issued with a compliance certificate annually confirming its membership of the Association for the year