Freedom Fixed Income Fund

Freedom Fixed Income Trust (AIM FFIT). It is an open-ended unit trust with an unlimited duration. The Trust invests in a diversified portfolio of fixed income securities to provide current income to meet the short-term liquidity needs of unitholders whilst generating long-term income and capital preservation.

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Overview

Investment Objective and Policies

The Fund aims to provide income, growth and preservation of capital for shareholders. The Fund seeks to achieve this by investing primarily in Ghanaian quality short-term debt obligations.

Fund Category: Money Market Fund

Fund Type: Open-ended

Inception Date: June 2010

Fund Manager: Ashfield Investment Managers Limited (“Ashfield” or “AIM”)

Place of Business: 18 Noi Fetreke Street, West Airport

Management Fees: 2.0% of the Net Asset Value of the Fund

Trustee Fees: 0.50% of the Net Asset Value of the Unit Trust

Minimum Deposit: GHS 20.00

Regular Deposit: GHS 10.00

Asset Allocation and Fees

Permissible Investment / Asset Allocation

Under normal market conditions, the Fund shall hold a mix of money market securities including the following.

Statutory Entity Bills and Bonds

Foreign Government Treasuries and Bonds

Bank Certificates of Deposits/Fixed Deposits

Corporate Bonds and Debt Obligations

Bankers’ Acceptances

Repurchase Agreements

Money Market Funds, and

Commercial Papers

Target Allocation	Subscription Fee	Range
70%	Fixed Income Securities	±10%
20%	Money Market Securities	±20%
10%	Cash and Cash Equivalent	±20%

Income Distribution Policy

The scheme reinvests all its investment income. Therefore, dividends are not declared nor distributed. Investors in the scheme benefit from a growth in the net asset value of each unit/share of the scheme they hold.

Front and Exit Load Fees

Below are the redemption fees associated with this Fund:

Subscription Fee	None
Redemption Fee within after 2 years	None
Redemption Fee within 2 years	1.0%
Redemption Fee within 1 year	2.0%

Limitations on Investment

The fund manager observes the following restrictions in accordance with the scheme’s policies and in line with market conditions. Except with the prior approval of the SEC, Ashfield shall not for or on behalf of a Scheme:

Invest in commodities, future, or options.
Invest more than 10% of the net asset value of the scheme in any type of real estate companies or companies that have engaged in real estate investment activities.
Invest more than 25% of the net asset value of the scheme in securities issued by a single issuer.
Invest more than 10% of the net asset value of the scheme in any particular class of securities issued by a single issuer.
Invest more than 10% of the net asset value of the scheme in other collective investment schemes.
Invest more than 15% of the total net asset value of the scheme in securities not listed or quoted on an authorized stock exchange.

Purchase securities on margin, except that may be necessary for the clearance of purchases and sales of securities constituting or to be included in the assets of the scheme.
Make any investment that will result in the manager, trustee, or the scheme gaining management control of a company in which the investment has been made.
Make short sales of securities or maintain a short position.
Acquire any securities which are unpaid or partly paid for.
Apply any part of the assets of the scheme in the acquisition of an investment that is likely to involve the scheme in any liability, contingent or otherwise.
Enter underwriting or sub-underwriting contracts in relation to the subscription or purchase of any investment; or
Invest in any securities of a class in a company or other body if any officer or collective officer of the manager of the scheme owns more than 5% of the total nominal amount of the securities of that class issued by the company or body.

Acknowledgement of Risk

Fixed income securities carry certain risks and special considerations. The value of the Fund’s assets can be adversely affected by the fiscal and monetary conditions affecting geographical locations where the scheme’s investments are domiciled.

As a result of the risk considerations, it cannot be guaranteed that the fund will achieve its investment objectives. However, the Manager will seek to always preserve the value of your investment.