FirstBanC launches "Heritage Fund"

Accra, July 24, GNA - FirstBanC Financial Services, an investment banking firm, is to introduce a new mutual fund product namely "Heritage Fund" on Monday July 26, 2010. The product aims to provide solid growth, sustainable income and long term value for investors in both listed and unlisted equities on the Ghana Stock Exchange. A statement copied to the Ghana News Agency on Friday said Heritage Fund investors would require just a minimum of GH¢ 20 to be shareholders.

Mr Evron Hughes, the Fund Manager, therefore, advised prospective investors, who wanted to be beneficiaries, to make a minimum contribution of GH¢5 at FirstBanC offices or branches of financial institutions such as the Agric Development Bank (ADB), The Trust Bank (TTB), ZENITH Bank and the STANBIC bank. He indicated that to attain long term value, shareholders of the Fund should hold their investments for a minimum duration of three years stressing that the target would be to invest in primarily listed and unlisted equities. Mr Hughes encouraged all investors, who desired solid growth and long term value, to take advantage of the season and invest in the Fund during the Initial Public Offer (IPO) period.