First Finance Company Limited, has launched two Mutual Funds onto the Ghanaian Market.
The two funds are the Financial Independence Fund and the Elite Mutual fund.
The Financial Independence Fund is targeted at investing in high-quality investment-grade fixed income securities that will provide security and liquidity for investors in emergencies such as temporary loss of income.
The Elite Mutual Fund, on the other hand, is a dual Retirement and Educational Fund that will invest in a combination of Equities, and Fixed Income Securities across the globe.
Speaking in an interview with Citi Business News at the launch, the CEO of First Finance Company Limited, Gloria Akoto described the prevailing conditions in the investment market as an opportune time for investors to buy into equities.
“We believe that the timing is right because at the moment the stock market is low and that presents an opportune time to buy equities.
We also believe that with the clean up, the regulators have become more vigilant and everybody will do the right thing given that we have had a number of new set of regulations that the regulator has come out with,” she remarked.
The objective of the Fund is to provide growth in the medium to long-term and to ensure that investors have a comfortable retirement and also have adequately prepared towards their wards college education.
Gloria Akoto, added that the two offers proposes to raise a total subscription of GH¢400,000 between September 25th and October 16th 2019.
The Financial Independence Fund has an initial minimum subscription of GH¢200 and thereafter a minimum of GH¢100 to top up.
The Elite Fund, on the other hand, has an initial minimum subscription and top up of GH¢100.
Meanwhile the Director General of the Securities and Exchange Commission, SEC, Daniel Ogbarmey Tetteh urged the managers of First Finance Company Limited to comply with all regulations guiding the operation of the investment market.
(By Pius Amihere Eduku)