SEC to establish fund to promote investment education

The Security and Exchange Commission, (SEC) is to set up an advocacy fund to help it step up an investment education in the country, the Director General of SEC, Mr Adu Anane Antwi has disclosed.

The move according to him forms part of measures to expand the investment base of the capital market.

He explained that although, the capital market has recorded growth in 2013, its investment education has had to face the challenge of getting sustainable finance hence, the fund would help address this challenge and would be funded by friends of the industry.

Mr Anane Antwi made these known at the launch of the EM Balanced Unit Trust (EMTRUST), a collective investment scheme set up by EM Capital Partners Limited, an investment banking institution.

The education he said was aimed at bringing Ghanaians closer to the capital market, something which had yielded positive results thereby, registering 35 schemes generating about GH¢301.47 million for the SEC to manage.

The EMTRUST according to the Chairman and Chief Executive Officer of the EM Capital, Mr Mike Ashong, has an objective of enhancing and preserving the wealth of its unit holders through investments in a diversified portfolio.

The initial public offer starts from October 18 to November, 7 with an ordinary share value of GH¢0.10p for a minimum of 200 units, equivalent to GH¢20.

By Jessica Acheampong/Graphic Business/Ghana