Merchant Bank launches Merban Fund

Merchant Bank Ghana Limited on Wednesday launched a mutual fund christened the Merban Fund.

The Fund is an open-ended collective investment scheme. This means that the fund can issue an unlimited number of shares and can redeem such shares at anytime.

According to the bank, the Fund's objective is to invest in money market instruments, listed equities and other regulated financial instruments in the country on behalf of shareholders.

The initial price offer is valued at GH¢0.10 per share and with a minimum of GH¢10 translating into 100 shares, interested persons can be part of the fund in the next 21 days.

The fund which will be managed by Merban Investment Holdings Limited (MIHL); a wholly owned subsidiary of Merchant Bank is targeted at individuals, pension and provident funds, and other corporate institutions.

Launching the fund, General Manager Consumer Banking of Merchant Bank, Henry Baye said the fund is in line with the bank’s objective to deepen long term investments in Ghana.

According to him, it is also to help its client add more value to their monies and to inculcate in them the idea of saving for the future.

Mr. Baye promised that the Fund would adhere to the regulations that govern the activities of mutual fund.

He called on existing and prospective customers of Merchant Bank to take advantage of the fund for a secured future.

On his part, Head of Merban Investment Holdings Limited, Manfred Kafui Bressey said the fund is not susceptible to downturns in the Ghanaian economy.

"The structure of the fund is such that the manager has the opportunity to play in both the equity and the money markets with experienced hands".

He noted that as fund managers, they will concentrate on the best stocks in emerging markets on the African continent where they have strong research information.

The MIHL boss said as pioneers with 37 years experience in fund management in the country they will ensure investors get value for their money.

"Our highly trained staffs are ready to offer professional and advanced portfolio management services to all shareholders," he stated.