Ghana’s securities market expands with 53 schemes
The securities market in Ghana is enjoying steady growth over the years with more licensed schemes springing up in the country.
At the end of 2014 there were 42 licensed schemes made up of 18 unit trusts and 24 mutual funds, Mr Alexander William, Acting Director General of the Securities Exchange Commission (SEC) said, at the launch of the Entrepreneur (eFund) and the Wealth Fund (W-Fund) earlier this week.
The two schemes are new products from Crystal Capital Investments Limited in Accra.
However, after two years there are 53 licensed schemes which offer opportunities to all investors to have access to a diversified portfolio of investments.
He said the theme of the launch,” Building a culture of investments through right partnerships trust and bespoke financial solutions” clearly speaks to the average Ghanaian to consider developing the culture of long term investments.
“There is no partnership that can thrive without trust and in this case trust between fund managers and investors,” Mr Williams advised.
He also urged the public to take advantages of the growth of investment products in capital markets, build partnerships and encourage the culture of savings and investments.
The commission’s wish he noted, was that the two investment packages will not just add up to the numbers but in reality offer the investment public another opportunity to create wealth and be the investment vehicle of choice to potential investors.
Mr. Martin Ofori, Chief Executive officer (CEO) of Crystal Capital and Investments Limited noted that a buoyant capital market is critical in helping to develop structured products and build the right understanding and investment culture among the general public.
“This will help mobilize significant investment funds as well as develop the right leverage to boost the economy,” he added.
The Crystal Wealth Fund (W-Fund) and the Entrepreneur fund (efund) are both collective investment schemes that pool resources of the general public and manage them on their behalf.
By Pamela Ofori-Boateng
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