Stanbic Cash Trust oversubscribed

He added: “Stanbic is a strong brand in Africa and has a leading presence in Ghana. The Standard Bank Group, the parent bank, has a long-term experience in fund management and this is a key factor in the product’s success on the market.”

Mr Asiedu further pointed out that Stanbic Cash Trust had a unique selling preposition which also contributed to its success.

“Due to its nature, the product had a ready and vibrant market in the country. The parent bank, Stanbic, also had a vast network that was available to be tapped into. This further strengthened a successful liftoff of the product and ensured that targets were met,” he said.

Investors’ holdings in the Cash Trust could be redeemed by a unit price calculated in accordance with the terms of the scheme’s particulars. The fees of the fund were a percentage of assets under management which could be accrued and charged.

Cash Trust is an opened ended short-term investment product and unlike the usual practice, there is no holding period, so investors can take part or all of their investment at anytime they so desire.  

Mr Asiedu assured investors that SIMS had the capability to ensure that they got full value for their investment at any period as SIMS continued to manage their funds.

“In line with every fund we manage here at SIMS, investors are assured that we will work hard to generate good returns on their funds and also make the funds available for their daily needs at anytime a request is made to us. They should also expect that they will benefit from the capital appreciation of the unit price as the fund will re-invest all income earned or received,” he said.

The product is targeted at individuals, corporate bodies, associations, pension and provident funds and is tailored to meet the investment needs of the following types of investors: Ghanaian citizens and corporate bodies, including those based abroad; Ghanaian financial institutions and insurance companies; provident, pension and endowment trusts; religious organisations; educational institutions; associations and investment clubs and foreigners.