Farid Antar (4th from left), MD of Republic Bank (Ghana) Plc, joined by Rev. Daniel Ogbarmey Tetteh (2nd from left), Director-General, Securities and Exchange Commission, and Mrs Madeline Nettey (3rd from left), Chief Executive Officer of Republic Investm Republic Investments (Ghana) Limited has launched a fixed income fund to boost investments of customers by helping individuals or organisations to build wealth.
Known as the Republic Wealth Trust, a collective investment scheme (CIS), it is designed for individuals including adults, students, children/dependents, groups, institutions, CISs, and pensions fund managers with investments mainly skewed towards fixed income securities.
A release issued in Accra at the weekend said: “In addition to the Money Market Fund- Republic Unit Trust; the Equity Fund – Republic Equity Trust; the Balanced Fund – Republic Future Plan Trust and the only licensed and operating Real Estate Investment Trust – Republic REIT; The
Republic Wealth Trust, being a fixed income fund, therefore, marks the expansion of the product suite of Republic Investments.”
It said the fund aimed to provide a medium to long-term fixed income investment portfolio for investors. It also aims to provide returns in the form of income by investing in fixed deposits, corporate bonds, local and municipal bonds, Government of Ghana securities as well as liquid funds, with the Ghana Cedi as the base currency.
“Following a successful launch of the Republic Wealth Trust, the Initial Public Offer (IPO) has commenced, with the offer period valid from March 22, 2022 to April 11, 2022.
The initial price is 0.50p per unit, and a minimum initial investment of 100 units or GH¢50.00 is required to participate in the IPO.
It said subsequent to the expiration of the offer period, however, a regular investment plan using mobile money, bank transfers, standing orders, or visit to any Republic Bank branch, is available for all who intend to purchase on a regular basis, adding that “Any additional investments into the fund after the offer period will attract no initial charge.”
Providing alternatives
The Chief Executive Officer of Republic Investments (Ghana) Limited, Mrs Madeline Nettey, said Republic Investments prides itself as the premier institution to introduce a CIS in Ghana over three decades ago, and the introduction of the ‘Republic Wealth Trust’, provided alternatives for the ever increasing clientele base whose needs kept evolving.
“As the economic indicators continue to point to the levels they are now, and outlook thereon, it enforces the need to ensure that we […]
