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Ghana’s Gold Coast Moves to Shield Mutual Funds Amid Cash Crunch

  • Structured finance fund shifted to special purpose vehicle
  • Ghana’s financial-services industry is caught in cash crunch
Updated on

A Ghana money manager is splitting its mutual-fund business from investments tied up in a structured-finance fund that is being shut down amid a cash crunch in the industry.

BlackShield Capital Management Ltd., formerly known as Gold Coast Fund Management Ltd., is seeking to protect unit-trust investors by shifting the assets and liabilities in the structured-finance fund to a special purpose vehicle, the Accra-based firm said in a statement on Tuesday. The aim is “to ensure the seamless management of other funds and products, such as Gold Fund Unit Trust.”