CF is an offshore open-ended mutual fund comprising six different funds managed by Capitalshare, an investment management company registered in the Cayman Islands. The six funds are Fund America, Money Market, When Issued Fund, IPO Fund, Fund UK and Fund EURO.
The CF has not obtained the approval of the SC to offer the funds to persons in Malaysia nor has a proposal been submitted to the SC for approval.
According to section 32 of the Securities Commission Act 1993, proposals should be submitted to the SC for approval prior to making available an offer for subscription or purchase or issue an invitation to subscribe or purchase securities to persons in Malaysia. Any offerings made without such approval is a breach of the said section.
Our press release on "Primary Offers of Securities via the Internet" dated 18 August 1999 stressed that an offer of securities via the Internet that is accessible by persons in Malaysia is an offer within the meaning of section 32 whereby approval from the SC must first be sought. Therefore, the unapproved offerings of Capitalshare which are accessible to persons in Malaysia constitutes a breach of section 32.
Investors should be aware that any investment of moneys in the CF are done at their own risk. These investors are not protected by the Malaysian securities laws pertaining to unapproved securities offerings or managed investment schemes since such offerings or schemes are not recognised by the SC.
Prior to making any investments in shares, the SC advises investors to protect themselves and to ensure their investments are safe by:
- obtaining advice from a licensed advisor that is approved and authorised by the appropriate authorities when investing in any investment scheme; and
- checking with the SC to ensure that an investment scheme, managed investment scheme or advisor has been approved by the SC
Members of the public may contact the SC's Corporate Affairs Department at telephone number: 603- 6548513 or 8625 / facsimile number: 603- 6515078 / e-mail:
[email protected] for such enquiries.
The SC urges the public to be wary of unapproved schemes that may be disseminated through the Internet, fax, brochures and other mediums. Investors should also be prudent in putting their money into any form of investment schemes by checking and ensuring that the necessary regulations have been complied with and approvals have been obtained from the relevant authorities.
