The Securities and Exchange Commission (SEC) Nigeria has issued a fund/portfolio manager’s licence to Kudy Financials Limited, a subsidiary of Kudy Financials SARL, to offer investment products and services in the nation’s capital market.
In its approval letter to the firm, the capital market regulator stated that the approval became effective from 11th April, 2023 and authorized it to operate as a full-fledged fund/portfolio management services provider in the investment market.
Speaking on the authorization by the SEC, the company’s Managing Director, Dr. Manasseh Egedegbe, recalled that it was a long and tortuous journey to get licensed by the capital market regulator from when the company commenced the process as a small entity in 2020.
“Our investment philosophy is centred around the control of risk, which we do through diversification and specialization, and the focus in the interim for us would be institutional investors and high net worth individuals, as they have the capacity for the risks associated with the Nigerian financial markets and our tactical investment style.
“Once we have gained the confidence of this segment of the market, we will begin building out products that cater for the needs of the other sections of the pyramid”, Egedegbe added.
In his remarks, the firm’s Chief Operating Officer (COO), Mr. Femi Olagundoye, said: “This licence opens a new chapter for the Kudy Group. It is the first iteration in our quest to have footprints across the globe, offering first-class financial solutions to our clientele.
“The application process was very rigorous and we are glad that the regulators found us worthy of being granted this licence”, he added.
Kudy Financials SARL, which commenced operations in 2017 as an investment idea provider for friends and families, is a global fund manager licensed with Luxembourg’s capital market regulatory commission, the Commission de Surveillance du Sector Financier (CSSF).
Over the past few years, the firm has transformed into a leading a player in the global investment space, providing financial products and solutions to an increasingly growing clients across the world’s investment markets.
