CySEC notes that Grow Wealth Assets Ltd does not fulfill AIF conditions

The Cyprus Securities and Exchange Commission (CySEC) has informed that, at its meeting held on August 05, 2016, the commission decided that the International Collective Investment Schemes Manrich Fund Limited, Bigan Wealth Fund Ltd, Gainmore Fund Ltd and Ebit Fund Ltd (the ICIS) do not fulfill the conditions of the AIF Law, regarding their operation as AIFLNPs.

CySEC has reached the above decision as the company Grow Wealth Assets Ltd, which was the appointed External Manager of the ICIS, has renounced its CIF license as of May 23, 2016, and an external manager to replace Grow Wealth Assets Ltd was not appointed.

The ICIS shall be subject to the provisions of the ICIS Law, until their dissolution.

Click here to see the full announcement.

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