{"id":466775,"date":"2018-02-23T01:30:35","date_gmt":"2018-02-23T01:30:35","guid":{"rendered":"https:\/\/ghana-mma.com\/2018\/02\/23\/cash-rich-pension-funds-in-ghana-drive-world-beating-stocks\/"},"modified":"2018-02-23T01:30:35","modified_gmt":"2018-02-23T01:30:35","slug":"cash-rich-pension-funds-in-ghana-drive-world-beating-stocks","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2018\/02\/23\/cash-rich-pension-funds-in-ghana-drive-world-beating-stocks\/","title":{"rendered":"Cash-rich pension funds in Ghana drive world-beating stocks"},"content":{"rendered":"<p><\/p>\n<div id=\"medsection1\">\n<!-- End of html generated by this->header() --><\/p>\n<p class=\"floatLeft\">Business News of Friday, 23 February 2018<\/p>\n<p class=\"floatRight\"><strong>Source: <\/strong>bloomberg.com<\/p>\n<p>2018-02-23<\/p>\n<div class=\"article-left\">\n<p class=\"article-image\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2018\/02\/77540621.295.jpg\" alt=\"Ghstock23\" title=\"Ghstock23\" width=\"295\" height=\"181\" \/><span class=\"image_caption\"><span>The value of stocks traded by local investors increased almost five-fold from a year earlier<\/span><\/span><\/p>\n<div class=\"noPrint\">\n<div id=\"537626303\" style=\"width:300;height:250;margin:0;padding:0\">\n<p>\t\t  <noscript><iframe loading=\"lazy\" id=\"b2ad7fa7fd\" name=\"b2ad7fa7fd\" src=\"http:\/\/ghanaweb-d.openx.net\/w\/1.0\/afr?auid=537626303&amp;cb=151125813973067\" frameborder=\"0\" scrolling=\"no\" width=\"300\" height=\"250\"><a href=\"\/\/ghanaweb-d.openx.net\/w\/1.0\/rc?cs=b2ad7fa7fd&amp;cb=151125813973067\"><\/p>\n<p>\t\t  <img decoding=\"async\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2018\/02\/1519349435_45_ai\" border=\"0\" alt=\"\" \/><\/a><\/iframe><\/noscript><\/p><\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"clear:right\"> A flood of money from private pension funds has driven a 33 percent surge in Ghana\u2019s benchmark stock index this year, giving the West African country the world\u2019s best-performing equities.<\/p>\n<p>The government in December transferred 3.1 billion cedis ($690 million) to the funds, money the state had held since 2012 while the industry put structures in place for new entrants. Seven months earlier, Ghana doubled the proportion of assets that pension funds can invest in stocks to 20 percent.<\/p>\n<p>\u201cWe are seeing more participation from local institutional investors, especially the pension funds,\u201d said Sena Agbo, head of investment banking at SAS Finance Group, which runs the country\u2019s second-best performing mutual fund. \u201cThe temporary pensions account now transferred to them is enabling them to increase their take of stocks.\u201d<\/p>\n<p>The index was little changed at 3,334.1 at 12:50 p.m. Wednesday in Accra, Ghana\u2019s capital.<\/p>\n<p>The value of stocks traded by local investors increased almost five-fold from a year earlier last month, according to the Accra-based Central Securities Depository Ltd. As of Tuesday, the 36-member Ghana Stock Exchange Composite Index had risen more than the 95 other benchmarks tracked by Bloomberg in dollar terms since Jan. 1, boosted by a World Bank forecast that the economy will expand by 8.3 percent in 2018, the fastest pace on the continent.<\/p>\n<p>\u201cThe economy is growing and a lot of incentives like tax cuts and utility price decreases are out there to make businesses competitive,\u201d Sidney Koranteng, a stock trader at Databank Group in Accra, said by phone. \u201cIt shows we\u2019re in a period of a boom. The market is not hot yet.\u201d<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2018\/02\/ghanastock23.jpg\" \/><\/p>\n<p><!-- uploaded by: 49 updated by: -1 --><\/p>\n<p><!-- Start of html generated by this->footer() -->\n<\/div>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a style=\"display:none\" rel=\"follow\" href=\"http:\/\/megatheme.ir\/\" title=\"\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633\">\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Business News of Friday, 23 February 2018 Source: bloomberg.com 2018-02-23 The value of stocks traded by local investors increased almost five-fold from a year earlier A flood of money from private pension funds has driven a 33 percent surge in Ghana\u2019s benchmark stock index this year, giving the West African country the world\u2019s best-performing equities. [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":466776,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-466775","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/posts\/466775","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/comments?post=466775"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/posts\/466775\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/media?parent=466775"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/categories?post=466775"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2018\/wp-json\/wp\/v2\/tags?post=466775"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}