Kojo Addae-Mensah, Databank Group CEO
Databank Group recently held annual general meetings for its Mutual Funds at the Accra International Conference Centre.
Databank revealed that Databank Money Market Fund (MFund), Databank Epack Investment Fund (Epack), Databank Balanced Fund (BFund), Databank Ark Fund (ArkFund) and Databank Educational Investment Fund (EdIFund), all put up good performances in 2015 despite the economic challenges faced by Ghana and Africa.
Addressing the MFund shareholders, Benjamin Gogo, Chairman of the Fund, stated that MFund posted an annualized yield of 21.94 percent, which was slightly lower than the 91-day Treasury bill annual yield of 22.90 percent.
MFund ended the year at a price of GH¢0.6960 per share.
The Fund, however, witnessed a 37 percent increase in its Assets under Management (AUM), ending the year at GH¢182.39 million.
Databank’s Group CEO, Kojo Addae-Mensah, who also doubles as chairman of Databank Balanced Fund (BFund), informed BFund shareholders that the Fund is one of the best investment options for retirement planning.
The Fund recorded a return of 13.08 percent, despite the turbulent investment climate in 2015.
The AUM of the Fund increased to GH¢16.27 million from GH¢13.3 million in 2014.
Speaking on the performance of Epack, Ghana’s first equity mutual fund, Board Chairman for the Fund, Keli Gadzekpo, stated that Epack’s cumulative performance since its inception in October 1996 stands at 26,273 percent.
This is almost six times higher than that of the Ghana Stock Exchange (GSE) over the same period. In 2015, the GSE recorded a loss of 11.77 percent, while Epack’s price increased by 0.65 percent, ending the year at GH¢2.6373.
Mr. Gadzekpo also mentioned that the Fund’s Assets under Management had increased to GH¢134.73 million despite the turbulent investment climate.
Databank ArkFund maintained its strong performance, recording a return of 18.28 percent.
ArkFund, Ghana’s only ethical investment fund, witnessed a growth in its AUM from GH¢4.2 million 2014 to GH¢6.71 million in 2015.
The Fund is guided by five strong values, namely prosperity, sustainability, environmental sensitivity, social responsibility and safety.
Israel Titi Ofei, Chairman of Ghana’s premier two-tiered educational investment fund, informed EdIFund shareholders that the Fund made noteworthy advances during its first 15 months of operation.
EdIFund Tier 1, which focuses on helping clients meet short-term educational needs, recorded a return of 18.52 percent.
EdIFund Tier 2, which is designed to help clients attain long-term educational needs, returned 16.70 percent.
The AUM of the Fund also grew by 249 percent from GH¢1.63 million in 2014 to GH¢5.68 million at the end of 2015.
As part of Databank Epack’s 20th anniversary celebrations, board members and shareholders jointly cut a cake to mark the milestone.
A business desk group