Stanbic launches new investment fund

Story: Maxwell Adombila Akalaare
Stanbic Bank Ghana Limited has launched a new product called the Stanbic Income Fund (SIF), with a call on Ghanaians “to cultivate the habit of savings”.
The fund is an open-ended unit trust, investing in fixed income securities and seeks to maximise short-term income as well as long-term sustainable returns and capital appreciation.
It has 200,000 units on offer with an initial offer price of GH¢1.00 per unit. The offer runs from December 15, 2010 to January 6, 2011. The fund has Merchant Bank (Ghana) Limited as its trustee.

Mr Alex Asiedu, Head of SIMS speaking during the function to launch the fund The Head of Stanbic Investment
 Management Services Limited (SIMS), Mr Emmanuel A. Asiedu, said the fixed income nature of the fund provides relatively stable risk adjusted returns to the investing public .

Fixed income funds, he said, have the core of their funds invested in corporate and government debts; a situation he stressed “avoids the potential fluctuations of the stock market”.
He further explained that the fund “will not just put investors’ “ ‘eggs’ in different baskets, but will put them in carefully woven, high-quality baskets”.
Mr Asiedu stated that “in only three years, SIMS has generated enough wealth for its clients to be recognised as a key player in the industry” and added that the company currently manages about 50 funds, both for corporate entities and individuals.
Mr Asiedu was of the view that the newly launched SIF “ will enable Stanbic Investment Management Services Limited to create wealth for those who choose it as their investment managers”.
Mrs Joyce Aryee, the Chief Executive Officer (CEO) of the Ghana Chamber of Mines who launched the fund, called on Ghanaians to stop spending their money on unimportant items but rather invest them in funds like the Stanbic Income Fund “not just for rainy days, but for sunny days too.”

Miss Joyce Aryee, of the Ghana Chamber of Mines launching the fund