By InvestAdvocate

Lagos (INVESTADVOCATE)-Nigeria’s Securities and Exchange Commission (SEC) on Monday alerted the investing public on the activities of Michelle-Vault Partners Ltd as fund managers.

SEC in a notice on its website said Michelle-Vault Partners is operating a purported fund “Energy Sector Credit Enhancement Fund”.

According to SEC, in order to convince unsuspecting investors of the authenticity of the purported fund, the promoters have misrepresented to the general public that the said fund is managed by major players in the Nigerian Capital Market.

“The said “Energy Sector Credit Enhancement Fund” is not registered by the Commission and the promoter, Michelle-Vault Partners Ltd. is also not registered to perform any function in the capital market.  The purported fund therefore appears to be an outright fraud,” SEC said.

“In view of the above, the general public is hereby WARNED that any person subscribing to the purported fund or dealing with Michelle-Vault Partners Ltd in any capital market related business is doing so at his/her own risk,” the Commission added.