Ghana: Crystal Capital Unveils Two Mutual Funds

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Crystal Capital and Investments Limited, an investment and financial advisory firm, has unveiled two innovative mutual funds to provide Ghanaians with more investment opportunities.

The investment funds dubbed: ‘Crystal Entrepreneur Fund (eFund) and Crystal Wealth Fund (W-Fund)’ would also offer higher returns which would enable investors to plan appropriately towards their entrepreneurial and personal financial goals.

The eFund is primarily designed for entrepreneurs, young people with entrepreneurial ambitions, as well as organisations that support entrepreneurial initiatives.
Consequently, it protects the capital of investors by investing in a balanced portfolio that provides very good yield.

The W-Fund is also designed for individuals and corporations who wish to make regular income on their investments as rates of return that are higher than those of savings.
Thus the fund provides security and opportunities to create wealth at one’s own pace.

Mr Martin Ofori, the Chief Executive Officer of Crystal Capital, in his address at the launch of the products, said taking a cue from the development path of the financial system since independence, the financial architecture was driven mainly by a perceived lack of credit to local businesses.

He said Crystal Capital understood that a buoyant capital market was critical in helping to develop structured products and build the right understanding and investment culture among Ghanaians to help mobilise significant investment fund.

Mr Ofori said the funds were both collective investment schemes that pooled resources of the general public and managed them on their behalf.

He said they were also open-ended mutual funds with the objective of providing capital growth, regular income while preserving capital and maintaining liquidity at all times by investing primarily in a diversified portfolio of high quality assets classes, pre-approved by the Securities and Exchange Commission.

“The Funds have a Custodian, who shall be vested with all the assets of the Fund and is mandated by the Law and the Regulations to protect the interest of investors,” he added.

Mr Alexander Williams, the Acting Director-General of the Securities and Exchange Commission (SEC), explained that the Commission believed that the Corporate Social Investment (CSI) constituted one of the investment vehicles that would facilitate the growth of the capital market.

He said the CSI was available to many investors who otherwise would have been cut off because they lacked the means and understanding of the capital market.

Mr Williams iterated that the two funds focused on a culture of investment through right partnership and this clearly spoke to the average Ghanaian to consider developing the culture of long-term investment.

He was of the view that there was no partnership that could thrive without trust, particularly, between fund managers and investors.

“If people can continue to take advantage of investment products in the capital market, build partnerships and as well encourage the kind of culture of savings and investments suitable to their needs, then trust is the key,” Mr Williams said.

The event was chaired by Professor Robert Hinson of the University of Ghana Business School.

Dignitaries present at the event included Mr Franklin Belnye, Advisor to the Governor of the Bank of Ghana and Mr David Agbey, Deputy Director at the National Pensions Regulatory Authority.

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