• Home
  • Contact
  • Events
  • Gallery
e.TVGhana
#eTVGhanaAt10
  • Prime Time News
  • ShowBiz
  • Sports
  • LifeStyle
  • Business
  • Tech
  • Bizarre
No Result
View All Result
  • Prime Time News
  • ShowBiz
  • Sports
  • LifeStyle
  • Business
  • Tech
  • Bizarre
No Result
View All Result
e.TVGhana
No Result
View All Result

Growth in Databank mutual funds is as a result of Good cooperate governance – Group CEO

July 18, 2019
in Business, Prime Time News
Growth in Databank mutual funds is as a result of Good cooperate governance – Group CEO
Share on FacebookShare on Twitter

Group CEO of Databank, Kojo Addae-Mensah, has attributed the good performance of Databank’s Mutual Funds to good cooperate governance.

According to him, the fixed income fund is performing well with the Mfund having the highest number of clients in the country with a 36% year-on-year increase in Assets under Management from GHC 437.14 million at the end of 2017 to GHC 595.35 million at the end of 2018.

He added that the equity mutual fund has suffered a bit because the stock market across Africa has not performed well as expected.

Mr Addae-Mensah made this known in an interview with Happy FM’s Joseph Nii Ankrah at the Annual General Meetings (AGM) for Arkkfund, Bfund, Edlfund, Epack, and Mfund, held in Accra on Wednesday.

“I always say that we do our business according to the law. And I tell a lot of people who keep asking how safe it is to invest with Databank that if you do this type of business according to the law, its very unlikely that you will run into problems; most of the time, we do things that infringe on the law, we take certain risk that is not necessary and that’s how we find ourselves wanting. It’s completely due to good cooperate governance and I always say our business model is that people should walk through the door when they want their money and they get it. We don’t sell returns,“ he said.

Board chairman of Mfund, Benjamin Gogo, in his address to mfund shareholders, stated that despite the decline in yields on short term instruments, mfund delivered an annualized yield of 15.98%, which outperformed its benchmark, the 91-day Treasury bill which posted an average annual yield of13.55%. Mfund closed the year with 146,173 clients representing a 36% increase in shareholders from 2017.

The fund also witnessed more than a 36% year-on-year increase in Assets under Management from GHC 437.14 million at the end of 2017 to GHC 595.35 million at the end of 2018.

Mr Addae-Mensah, who is also the Chairman of the Board of the Bfund, informed Bfund shareholders of the significant growth of fund’s assets under management from GHC 48.11 million as at December 31, 2017 to 83.68 million as at the end of December 2018. Bfund closed the year at the price of GHC 0.6199 per share, posting a return of 7.48% at the end of 2018.

On the performance of the Epark, Ghana’s first ant best-performing equity mutual fund, board chairman, Keli Gadzekpo stated that Epack closed the year at GHC 3.288 per share, posting a return of -5.25%.

Despite the negative return, Epack outperformed the benchmark indices in other African countries such as the Nigerian -18% and Kenyan -18% markets. He also added that although Epack underperformed the Ghanaian benchmark index of -0.29%, Epack’s cumulative return since its inception in October 1996 is about 5.6% greater than that of the GSE over the same period, with 34,188% for Epack to 5,154% for the GSE. Epack also recorded a growth in AUM from GHC 180.33 million by end of 2017 to GHC 186.32 million by end of 2018.

Arkfund also closed the year with a return of 11.77%. The fund’s AUM also increased from GHC 15.56 million to GHC 28.21 million and increased its shareholders to 14,632 from 9,112 in 2017, representing a 60.58% increase. This is according to its chairperson Joyce Aryee.

Chairman of Ghana’s premier two-tiered educational mutual fund, Israel Titi Ofei, informed Edlfund shareholders present about the impressive performance of the fund. Edlfund tier 1, which helps Ghanaians cater for long-term educational needs, closed the year at a price of GHC 0.1899 per shares and recorded a performance of 8.32%. Shareholders for both tiers increased from a total of 16,195 in 2017 to 25,198 in 2018.

Previous Post

VIDEO: The mindset of Ghanaians is the problem - Rev Azigiza

Next Post

Nelson Mandela Day: Barclays, ALU Scholars pay courtesy call on SA High Commissioner

Next Post
Nelson Mandela Day: Barclays, ALU Scholars pay courtesy call on SA High Commissioner

Nelson Mandela Day: Barclays, ALU Scholars pay courtesy call on SA High Commissioner

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Anniversary Poll

Which of these shows do you want us to bring back for #eTVGhanaAt10?

NOTE: Once you vote now, you can only vote again after 24 hours.

Latest News

YFM extends reach as an audio channel on DSTV

YFM extends reach as an audio channel on DSTV

December 11, 2019
The sweetest thing on Earth is a lie- Counsellor Lutterodt

Video: The sweetest thing on Earth is a lie – Counsellor Lutterodt

December 11, 2019
Buyer returns Grease jacket to Olivia Newton-John after auction

Buyer returns Grease jacket to Olivia Newton-John after auction

December 11, 2019

Most Read This Week

  • Mugabe is gone; long live Mugabe!

    Mugabe is gone; long live Mugabe!

    624 shares
    Share 595 Tweet 12
  • Video: Joyce Dzidzor Mensah strips Naked and curses Ghanaians.

    122 shares
    Share 99 Tweet 10
  • Video: I Have The Sweetest Vagina – Nayas

    1143 shares
    Share 1123 Tweet 9
  • Video: Is Lord Paper actually having s*x in this Music Video?

    26 shares
    Share 10 Tweet 7
  • Check out the list of some prominent Ghanaians who invested heavily in Menzgold

    213 shares
    Share 200 Tweet 6

FANTASY LEAGUE

  • Prime Time News
  • ShowBiz
  • Sports
  • LifeStyle
  • Business
  • Tech
  • Bizarre

© 2019 e.tv Ghana | All rights reserved

No Result
View All Result
  • #WinTheRide19
  • 2017 Ghana Most Influential Nominee's
  • Contact
  • Election Camp
  • Election Results
  • eSport
  • eTV Buzz
  • eTV Online
  • Events
  • Fantasy League for EPL
  • Gallery
  • Ghana Fashion Award
  • GIM 2015
  • GMI Nomination Forms
  • GMI page
  • Home
  • Home 1
  • Home 2
  • Home 3
  • Home 4
  • Home 5
  • Home 6
  • Hug out Accra
  • Jumia
  • LITWR19 Results
  • Made In Ghana
  • Martin Amidu, two lawyers clash in court over Woyome
  • Presenters
  • Prime News
  • Privacy Policy
  • Promotions
  • Random
  • Sample Page
  • ShowBiz
  • Survey: What Do You Want from The Government?
  • Technology
  • The One
  • TV Guide
  • Videos
  • World Cup 2018
  • World News

© 2019 e.tv Ghana | All rights reserved