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Databank records growth in Mutual funds

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Databank  recorded significant growth in all its Mutual funds as at December 2018.

The  Arkfund, Epack, mfund, Bfund and Edifund all  recorded significant growth last year.

The Group Chief Executive Officer, (CEO), Data bank, Kojo Addae Mensah disclosed this to shareholders at the Annual General meeting in Accra.

shareholders at the Annual General meeting in Accra.

He informed Bfund shareholders  of the significant growth of the fund’s assets under management from GHC 48.11 million as at December.  2017 to 83.68 million at the end of December  2018.

He noted that, the Bfund closed the year at a price of GHC 0.6199 per share posting a return of 7.48 at the end of 2018.

Epack also outperformed the bench mark indices on other African countries.

The chairperson of Arkfund, Joyce Aryee in her address said the fund closed the year with a return of 11.77% with the fund’s AUM also increasing from GHC 15.56 million to GHC 28.21 million and an increase in the number of shareholders  to 14,632 from 9,112 in 2017, representing a 60.58% increase.

The Board Chairman, Keli Gadzekpo commenting on Epack, said the first and  best performing equity mutual fund said ” Epack cumulative  return since its inception in October 1996 is about 5.6% greater than that of GSE over the same period, with 34,188% for Epack to 5,154% for the GSE.

Edifund Tier 1 which helps Ghanaians cater for short-term educational needs, closed the year at GHC 0.2008 per share  and recorded  a performance  of 11.32%

Edifund Tier 2 on the other hand which is focused on helping Ghanaians cater for long-  term educational needs closed the year at a price of GHC 0.1899 per share and recorded a performance of 8.32% with shareholders for both tiers increasing  from a total of 16,195 in 2017 to 25,198 in 2018. According to the chairman of Edifund.

By Stephen Kojo Tetteh

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