First Fund still best performing Mutual Fund - Asiedu

Mr Samuel Asiedu, Managing Director (MD) of FirstBanC, has said the First Fund, managed by the FirstBanC Financial Services Limited, maintained its lead position among all Mutual Funds (collective investments schemes) in the country.

Mr Asiedu, who disclosed this to the Ghana News Agency in Accra, said the Securities and Exchange Commission’s Annual Report for last year ranked the First Fund as the best performing and cost-effective collective investment scheme for 2014.

The Fund, he said, closed the year with an annual yield of 37.28 percent ahead of other schemes.

Mr Asiedu said since its inception in 2010, First Fund had maintained its position as the best performing money market mutual fund in Ghana each year.

The Fund, the MD said, had also achieved consistent and considerable growth in the Asset Under Management (AUM), price and clientele base, adding that the AUM of the Fund grew by 62.3 per cent from 22.8 million Ghana Cedis at the end of September this year.

Mr Asiedu said the Fund was doing very well because of prudent operational costs management, coupled with the current high-interest rate on money market instruments.

The MD disclosed that the industry “league table” as at the end of September this year, also showed First Fund maintaining its lead position among the Money Market Funds.

Mr Asiedu said, since its inception in 2010 up to last year, the Fund recorded impressive performances, recording 19.87 per cent; 20.26 per cent; 32.73 per cent; 34.58 per cent; and 37.38 per cent respectively in 2010, 2011, 2012, 2013 and 2014.

He, therefore, urged investors and the general public, to invest in the First Fund, in order to enjoy the impressive returns generated by the Fund.