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The Databank Educational Investment Fund is an outcome oriented open ended mutual fund created to help people invest towards financing their educational needs. The Fund has been created mainly for educational institutions, parents, students, scholarship bodies and individuals who want to save and invest towards meeting future educational expenditure. The underlying assets of the fund will be fixed income instruments and equities in Ghana and other parts of Africa.
The Fund has a two tier structure to cater for the needs of short term investors as well as those investing for future educational needs. Tier 1 will be for investors who would want to save for their immediate educational needs and it will have a minimum holding period of 3 months. Tier 2 will be for investors who would want to save for future educational needs and it will have a minimum holding period of 5 years. Clients in Tier 2 clients will have a life assured cover.
The Fund seeks to achieve its investment objective by investing in fixed income securities and equities in Ghana and across Africa. The Fund may invest 100% of its assets in fixed income securities with the option to invest not more than 30% of its total net assets in equities for the tier 1 scheme and it can invest 60% to 100% in fixed income securities and a maximum of 40% in equities for the tier 2 scheme. The fund will be structured to reduce portfolio volatility and exposure to particular issuers and sectors by maintaining a well-diversified portfolio of fixed income securities. For the equity section of the portfolio, the focus will be on identifying investments with quality management, competitive positions, regular profits and good cash flow positions, in effect 'Defensive Stocks' ie blue chip dividend assured companies.
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It has come to our attention that pronouncements have been recently made in the press claiming that Databank is dealing in gold collectibles.
We would like to assure our customers and the Ghanaian public that this claim is FAL