First Atlantic Income Fund launched
The First Atlantic Asset Management (FAAM) has launched a mutual fund to help people maximise their short to medium-term funds while preserving their principals.
Christened the First Atlantic Income Fund (FAIF), it is aimed at providing maximum returns on income by investing in diverse portfolios of money market and fixed income instruments.
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The investment instruments will include fixed income securities such as the government bonds, which will attract 80 per cent of the fund’s investment, and bank fixed deposits.
Fund
The open-ended fund seeks to raise a minimum of GH¢200,000 during its initial public offering (IPO) between March 21 and April 11, this year.
Subscribers are required to invest a minimum of GH¢50, with subsequent contributions of GH¢20 or more.
The FAIF would give investors the opportunity to invest at any time and also redeem their funds whenever the need arises at no cost.
The General Manager of FAAM, Prince Atsianu, said the fund was born out of experience gathered over the years and with skillful fund managers, it would facilitate the creation of more wealth for the investors.
He added that individuals, schools, corporate bodies, churches, endowment funds and welfare funds, among others, could all invest in the fund.
Mr Atsianu advised investors to consistently invest into the fund for a longer period of time to optimise returns.
Financial independence
The Director of First Atlantic Income Fund, Reid Richelieu Paige Wiles, disclosed that the fund was a duly licensed fixed income one which was an ideal investment option for investors who wished to maximise their capital in the short term.
"The First Atlantic Asset Management is one of the leading asset management firms in the country and I strongly believe it is the right investment vehicle to create wealth for investors,” Mr Wiles said.
In his view, the fund would position Ghanaians to achieve financial independence.
Mr Wiles, therefore, urged the public and institutions to take advantage of the opportunity presented by the FAIF and also partner them.
Security
The Head of Financial Institutions Division of the Guarantee Trust Bank Ghana (GTBank), Solace Fiadjoe, who spoke on behalf of the Custodians of FAIF (GTBank), said the partnership between both banks was a testament of “synergy of ideologies of both organisations in terms of value addition, growth and consistency in superior financial service delivery.”
She stated that what informed GTBank to support the initiative of FAAM with its “expertise and robust technology” was because it had been involved in a number of IPOs with various institutions such as telecommunication companies, banking and collective schemes, unit trusts and mutual funds.
Mrs Fiadjoe explained that their role as custodians was to serve primarily as watchmen of the assets of the fund.
"This ensures safekeeping of the investments, thereby engendering the interest of investors in line with the Securities and Exchange Commission's regulations,” she added.