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First Fund retains spot as Best Performing Mutual Fund

First Fund retains spot as Best Performing Mutual Fund

First Fund, an investment product managed by FirstBanC Financial Services Limited (FirstBanC), has maintained its position as the best mutual fund (collective investments schemes) in Ghana, according to the Securities and Exchange Commission’s annual report for 2014.

The report ranked First Fund as the best performing and the collective cost effective investment scheme for 2014 as it closed the year with an annual yield of 37.28 per cent ahead of other schemes.

 

Since its inception in 2010, First Fund has maintained its position as the best performing money market mutual fund in Ghana each year.

It has also achieved consistent and considerable growth in the Asset under Management (AUM), price and clientele base.

The AUM of the fund grew by 62.3 per cent from GH¢22.8 million at the end of 2014 to GH¢37 million as at September 30, 2015.

The Fund, as at September 30, reported an annualised yield of 37.19 per cent, higher than the benchmark 91-day Treasury Bill for the period at 25.32 per cent.

The unit price of the fund also rose slightly by about 22 per cent to 0.3159 at the end of September 2015.

According to the Managing Director of FirstBanC, Mr Samuel Asiedu, the fund is doing very well because of prudent operational costs management, coupled with the current high interest rates on money market instruments.

The industry “league table” as at the end of September 2015 also showed First Fund maintaining its lead position among the money market funds.

Mr Asiedu urged investors and the general public to invest in the First Fund to enjoy the impressive returns the Fund generates.

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