Investment services player, new generation investment services limited, has launched its maiden mutual fund in the Ashanti regional capital Kumasi.
The money market instrument NGIS Mutual Fund, is expected to buy into fix deposits, commercial papers and bonds.
Prospective investors will be allowed to invest a minimum of 100 cedis with an open ended maturity period.
Speaking to Ultimate Business on the sidelines of the launch, the General Manager of NGIS, Edward Asamoah assured that the company is poised to maintain its credibility in the industry.
“This fund manager has been in existence for the past thirteen years and this is not our first fund we are launching. The first was the Anidaso Mutual Fund and we also manage pensions and offer private fund management services. With this pedigree we are sure the customers will get the same if not more with this new product coming on board,“
The Director General of the Securities and Exchange Commission (SEC), Rev Daniel Ogbarmey Tetteh lauded the creation of such instruments as a potent measure to encourage savings and financial independence.
Cautioning players in the industry, he however stressed that the SEC will not countenance weak and non-compliant companies in the security industry.
The NGIS Mutual Fund has as its partners, EcoBank which will serve as the custodian bank and the New Generation Investment Services Limited as its fund manager.
By:Ghana/Ultimatefmonline.com/106.9FM/Ivan Heathcote – Fumador/Fati Ibrahim