ALERT: “The Best of Fixed Income Fund” by Folio Asset Management Limited not approved by SC

The Securities Commission (SC) would like to alert the public on an e-mail which is promoting The Best of Fixed Income Fund by Folio Asset Management Limited (FAML) as a legitimate fund endorsed by the SC. The email also carries the SC logo and Securities Industry Development Centre (SIDC) name without the prior approval of the SC.

The SC would like to caution that:

• FAML is not licensed by the SC to carry out asset management activities or services in Malaysia.
• “The Best of Fixed Income Fund” promoted by the company has not been approved nor endorsed by the SC.

All asset management companies soliciting funds from Malaysians must have a valid licence from the SC. The public should only invest through parties that have been licensed by the authorities. The public should check with the SC or the relevant authority on the licensing status of the local or foreign company they are investing through. A list of licensed intermediaries including asset management companies is available on the SC website here.

All investment funds offered in Malaysia must be approved by the SC. However, the SC’s approval does not mean that the SC endorses the fund.

Those who have been approached to invest in the above fund may contact the SC’s Complaints Unit at tel: 03-62048999 / fax: 03-6204 8991 / e-mail: aduan@seccom.com.my

SECURITIES COMMISSION
16 July 2003