FirstBanc sees strong performance in 2016
Management of Firstbanc Financial Services has assured its customers of a strong performance in 2016, with just two months to end the year.
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The Head of Marketing and Business Development of Firstbanc, Mr Gordon P. D. Derry, in an interview with the DAILY GRAPHIC during its customer service week, said its results by the end of the third quarter indicated that customers were assured of good returns on their investments.
He said the First Fund, which is its short to medium term money market mutual fund, had always performed well and indications were that, “we should not perform less than what we did last year”.
The First Fund posted an annualised yield of 37.86 per cent in 2015 and also outperformed the 91-day and 182-day treasury bills, which closed the year at 22.9 per cent and 24.45 per cent respectively.
Mr Derry said the treasury bills had always been the benchmark for the fund and was therefore looking forward to finish some basis points above the treasury bills rate this year.
He said its target for Assets Under Management (AUM) for the year was GH₵70 million to GH₵75 million and by the end of the third quarter, it had recorded around GH₵66 million. It was therefore on course to achieve its target for the year.
“For the Heritage Fund, the benchmark is the Ghana Stock Exchange index which is not performing well now but we have performed far and above that. We are in the positives and currently doing about five per cent year-to-date,” he stated.
Clients rewarded
As part of the customer service week, the First Fund rewarded its clients for their loyalty.
Mr Derry said the week-long celebration was scheduled to coincide with the international customer service week, which was celebrated annually in the first week of October.
The theme for the international celebration this year was: “Customer Champions.”
“Each client, who visited the FirstBanC received a special reward according to the type of products and services assessed by the client. This included new accounts opened within the period.