All-Time Capital, a mutual fund established three years ago, has launched a bond fund that targets corporate and individual investors who are conscious of the various risks associated with investments in the country.
The fund, the All-Time Bond Fund (ABF), is a medium to long-term investment instrument that will invest mainly in government and corporate bonds as well as in stable but high yielding money market instruments.
It has Stanbic Bank as its custodians and will be regulated by the Security and Exchange Commission (SEC).
The Chief Executive Officer of All-Time Capital, Mr Peter A. Iliasu, said at the launch in Accra that the introduction of the ABF was part of the company’s desire to bring world class investment services to its clients nationwide.
He said although All-Time Capital started as a small company about three years ago, its high calibre of service delivery had won it big clients in the industry within the short period of time.
“Our staff know the market well, we have invested in state-of- the-art technology and that is reflecting in the service delivery,” Mr Iliasu, formerly with the Export Development and Agricultural Fund (EDAIF), said.
The Manager of the ABF, Mr Aseye Akotia, explained that about 60 per cent of the fund’s net assets was to be invested in bonds and the remaining 40 per cent in money market instruments.
This categorisation, he said, was, however, not definite as prevailing circumstances could cause his outfit to alter the amount of assets earmarked for each category.
Although there are promising returns for companies that invest in the real estate sector, especially given the current yawning housing deficit, Mr Akotia said the fund would be investing a maximum of 10 per cent of its assets in that area due to the associated risks.
The initial public offer (IPO) for the fund is expected to run from July 31 to August 28 within which period individuals, fund managers and the investing public would have the opportunity to buy into it.
The IPO has five million shares on offer and interested individuals and institutions can buy a minimum of GH¢100 shares after which they qualify to buy in multiples of GH¢50.
The expected average return on yields on the fund will be around 28 per cent, according to its manager, and yields can be redeemed without any fee charged.
By Maxwell Adombila Akalaare/Daily Graphic/Ghana
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