19-06-2023 BoN Warns against QZ Asset Management

19 June 2023 | Media Release
 

The Bank of Namibia (‘Bank”) assessed the business activities of QZ Asset Management following complaints by members of the public. 

 QZ Asset Management is marketed as an online business that provides advisory and asset management services to individual and institutional investors. It is reported that QZ Asset Management’s primary goal is to build innovative portfolios that provide superior, long-term investment returns by acquiring ownership in outstanding companies at attractive prices through its big data capabilities incorporated with Artificial Intelligence instead of analyzing stock markets. According to its marketing material, the company matches investments dollar-for-dollar which apparently doubles their clients’ Assets Under Management (AUM), essentially doubling profits. The company further claims to ensure that capital is 100% guaranteed in the event of any trading mishap and that a maximum interest return of 400% can be earned on investment. QZ Asset Management does not offer any tangible products for sale.