Following reports from retail investors, the regulator issues a warning to the public against the activities of Magaffairs, which proposes via its website https://magaffairs.com investment in various mutual funds and alternative investment funds whithout autorisation.
The entity Magaffairs proposes to individual investors, through detailed marketing documents, investments in various mutual funds, that are not authorised for marketing in France.
The AMF wishes to inform investors that Magaffairs does not have the legal statutes authorising it to offer investors in France subscription to mutual funds units.
The AMF recommends that investors do not respond to solicitations from persons attached to this entity and do not pass on the information to third partes in any form whatsoever.
Lastly, the AMF reminds individual investors to follow these safety guidelines before making any investment:
- no advertising materials should make you overlook the fact that high returns always involve high risk;
- learn as much as you can about the company or intermediary trying to sell you a product (authorization/certification, company history, location of head offices, etc.);
- only invest in a product you understand;
- ask yourself how, and by whom, the purchase price or selling price of the advertised product is set, and find out the precise terms and timeline for selling the product, especially in cases where the product invests in an asset class with low liquidity.
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About the AMF
The AMF is an independent public authority responsible for ensuring that savings invested in financial products are protected and that investors are provided with adequate information. The AMF also supervises the orderly operations of markets.
Visit our website https://www.amf-france.org
