By Kofi Ahovi
FirstBanc Financial Services Limited has launched and commenced the Initial Public Offer (IPO) of a new mutual fund dubbed First Fund.
The IPO which started on February 9 is expected to end on March 1, 2010. To be considered successful, the fund needs to raise a minimum of GH¢100,000 during the IPO.
First Fund is a Security and Exchange Commission (SEC) licensed money market mutual fund that pools resources of a group of investors and manages it on their behalf.
The main objective of the fund is to provide regular income while preserving capital and maintaining liquidity at all times by investing primarily in a diversified portfolio of high quality fixed income securities and other money market instruments.
The fund invests in money market securities such as commercial papers, bankers acceptance, certificate of deposit, other fixed deposits and Government of Ghana debt obligations.
First Fund is primarily targeted at those who wish to earn additional income from their savings.
An investors needs only GH¢20 to start investing in the fund and has the opportunity to top up his/her account regularly with a minimum of GH¢5.
Investors are encouraged to hold their investment for at least three month before redemption.
FirstBanc Financial Services is a SEC license investment banking firm with a mission to help clients build wealth by providing creative, innovative world class financial services including fund management and advisory services.
FirstBanc Financial Services Limited has launched and commenced the Initial Public Offer (IPO) of a new mutual fund dubbed First Fund.
The IPO which started on February 9 is expected to end on March 1, 2010. To be considered successful, the fund needs to raise a minimum of GH¢100,000 during the IPO.
First Fund is a Security and Exchange Commission (SEC) licensed money market mutual fund that pools resources of a group of investors and manages it on their behalf.
The main objective of the fund is to provide regular income while preserving capital and maintaining liquidity at all times by investing primarily in a diversified portfolio of high quality fixed income securities and other money market instruments.
The fund invests in money market securities such as commercial papers, bankers acceptance, certificate of deposit, other fixed deposits and Government of Ghana debt obligations.
First Fund is primarily targeted at those who wish to earn additional income from their savings.
An investors needs only GH¢20 to start investing in the fund and has the opportunity to top up his/her account regularly with a minimum of GH¢5.
Investors are encouraged to hold their investment for at least three month before redemption.
FirstBanc Financial Services is a SEC license investment banking firm with a mission to help clients build wealth by providing creative, innovative world class financial services including fund management and advisory services.
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