Cal Asset Management Company Limited, a subsidiary of CalBank Group, onWednesdaylaunched two new products unto the Ghanaian market.
The products are CAL Advantage Unit Trust and CAL Benefit Unit Trust.
The Advantage Unit Trust is a retirement plan for both formal and informal workers to invest on a consistent basis. It is also a medium to long term investment plan with a-two year minimum period.
For the Benefit Unit Trust, it is an emergency fund for investors with the aim of helping customers have an immediate support in times of crisis. It is a fix income fund.
The Chief Executive Director of CalBank, Mr James Elijah Donkoh, said CAL Asset Management put together a three-year strategic plan aimed at guiding the bank to engage the retail market more with its investment management services.
He said in line with one of the four pillars of the Securities and Exchange Commission’s capital market master plan, which sought to increase the investor base and promote innovation and product diversification, the bank has introduced unto the market its two new products with sound emergency and retirement funds in place for individuals and families.
He said CAL Asset Management had remained a formidable player in the investment industry since its inception and had ensured strict compliance with the rules and regulations guiding operations within the sector and intends to maintain this record into the future.
MrDonkoh urged clients of the bank to keep believing and continue doing business with it as it worked hard to churn out innovative solutions to meet investment needs.
The Deputy Director of the Securities and Exchange Commission (SEC),Mr Paul Ababio, has urged investors to be open to risk adaptation, dynamic implementation of diversional strategy and quick identification of sources of stability and growth in an attempt to build a robust and sustainable financial market.
According to Mr Ababio, the commission had directed that collective investment schemesshould provide an avenue for retail investors to have their investments professionally managed at a reasonable cost with adequate transparency.
“This is in furtherance with building a strong andviable market to accelerate the growth of Ghana’s economy,” he stated.
Mr Ababio mentioned that collective investments had grown significantly over the past four years, stating that in 2017 Ghana had GH¢2.7 billion in Assets under Management (AuM) while as at the end of June, the country had GH¢7.2 billion.
“With this you can see there is a movement towards a clearly identified retail market because it allows you to segment your clients,” Mr Ababio said.
He encouraged the fund managers to work within the remit of the law to ensure the investment schemes achieve their objectives for investors.
BY JEMIMA ESINAM KUATSINU
