Accra, Ghana//-First Atlantic Asset Management (FAAM), the investment arm of First Atlantic Bank Ghana, has launched its maiden fixed income fund onto the market to help Ghanaians better maximize their short to medium term funds while preserving their capital.
The newly launched fund according to executives of FAM, is an open-ended fund that would invest mainly in a broad range of high quality money market and fixed income securities including Government of Ghana bonds, corporate bonds, bank fixed deposits and bankers’ acceptance.
The objective of the fund is to provide maximum current income that is consistent with maintaining liquidity and preserving capital by investing in a diversified portfolio of money market and fixed income instruments.
Speaking at the launch in Accra, the Director of FAM, Reid Richelieu Paige Wiles, said: “Investing had formerly been seen as the preserve of the rich and elite in the society, but with the introduction of our fixed income fund, people from all walks of life can proudly hold an investment account. With as little as GHS50.00 anyone can become a shareholder of the fund”.
He added: “Our First Atlantic Income Fund is a fund for all, a fund that positions Ghanaians to achieve financial independence”.
Mr Paige Wiles therefore urged the investing public to take advantage of the opportunity and partner First Atlantic Asset Management to secure their future.
The fund is also open to institutions, businesses, schools, endowment funds and welfare funds, he stated.
The fund is seeking to raise a minimum amount of GHS200,000 during its initial public offering period which commenced Monday, March 21, 2022 and ends on Monday, April 11, 2022.
The minimum amount needed to invest in the fund is GHS50.00 and a subsequent contribution of GHS20.00 or more.
The fund being open-minded would give investors the opportunity to invest into the fund at any given time and also redeem their funds whenever the need be.
The General Manager of First Atlantic Asset Management, Prince Atsianu was confident that the experience the company had gained over the years in wealth management would be tapped into to create more wealth for investors.
He outlined some benefits of investing in the fund which include diversification of funds across broad range of asset classes to minimise the risk to investors, enjoying the professional fund management expertise of the fund manager, liquidity, flexibility and easy accessibility by paying through all branches of First Atlantic Bank nationwide, FAAM mobile app, standing order, direct debit and direct payment at the office of the fund manager.
Mr Atsianu used the occasion to advice the investing public to secure their financial future by investing in the fixed income fund.
He also assured investors of the safety of their funds as 80% of the fund would be invested in Government of Ghana securities. For investors to optimize the returns of their investments, the general manager of the fund suggested that they consistently invest into the fund for a longer period.
For subscription of shares in the First Atlantic Income Fund, investors could visit any branch of First Atlantic Bank nationwide to duly complete an application form and make their initial deposit or they could also visit the office of the fund manager, First Atlantic Asset Management at North Ridge, Accra.
African Eye Report
