Collective Investment

Collective Investment Schemes

We offer a wide range of investment funds under Collective Investment Schemes (CIS) to investors. Our investment policies are anchored on strategies to outperform set benchmarks and funds of similar strategies. Our clients can easily access a variety of investment solutions to achieve diversification through our portfolio allocations to Government treasuries, notes and bonds, high-grade corporate bonds and notes, other fixed income instruments, and listed equities.

With our CIS, clients can trust Ashfield to help them meet their investment goals of retirement income and planning, savings, educational expenditure, family welfare and healthcare, and many more.

Ashfield manages three (3) CIS’s Below:

SCHEMES


Gold Money Market Fund

Freedom Fund Unit Trust

Mcottley Unit Trust Fund
Overview
Asset Location and Fees
Limitations
Risks
Parties
Overview

GOLD MONEY MARKET FUND

Name and Nature of the Fund

The Gold Money Market Fund is an authorized open-ended Mutual Fund licensed
by the Securities and Eaxchange Commission, Ghana, which seeks to invest
primarily in a diversified class of money market securities. The Fund aims
to provide opportunities for investors seeking safe, liquid and good
returns on their investments.

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 Type

Open-ended Mutual Fund

Fund Category
Money Market Fund

Inception Date

March 2012

Fund Manager

Ashfield Investment Managers Limited (“Ashfield” or “AIM”)

Place of Business

16 Noi Fetreke Street, West Airport

Management Fees

2.50% of the Net Asset Value of the Fund

Custodian Fee

0.50% of the Net Asset Value of the Fund

Minimum Deposit:

GHS 50.00

Regular Deposit

GHS 10.00

Asset Location and Fees

Permissible Investment/ Asset Allocation

The Fund will purchase securities, which present the minimal risks whilst offering maximum returns. Under normal conditions, this may include but not limited to:
• Corporate Obligations (Bonds)
• Commercial Papers
• Certificates of Deposit/Fixed Deposits
• Bankers Acceptances
• Repurchase Agreements

Asset Class Minimum Normal Maximum
Bonds 15% 20% 30%
Commercial Papers 10% 30% 50%
Certificates of Deposit 20% 30% 40%
Bankers’ Acceptance 5% 15% 20%
Repurchase Agreement 10% 15% 0%
Ghana Government debt Instruments 20% 40% 60%
Bank and Cash 10% 15% 20%

• Front and Exit Load Fees
Below are redemption fees associated with this fund:
• Front-end load – 1.00% (suspended)
• Back-end load – None

Limitations

Limitations on Redemption

A shareholder cannot redeem shares in an amount that will leave the holder with less than 20 shares or a lesser number prescribed by AIM.  Any redemptions by an investor in excess of 3% of the Net Asset Value of the trust shall be settled within ten (10) working days.

Income/Dividend Distribution Policy

The Trust shall not distribute any investment income either in the form of cash or shares to registered Shareholders. All investment income shall be reinvested into the Fund. Registered shareholders who wish to withdraw their earnings will have to either sell a part, or all of their shares held. AIM shall distribute income to shareholders in proportion to their ownership stake as at the preceding accounting date.

Limitations on Investment

The Manager shall observe the following investment restrictions under normal market conditions. The Gold Money Market Fund shall not:

  • Invest in common stocks or other equity securities
  • Buy or sell options
  • Buy securities on margin, mortgage or pledge securities, or engage in short sales
  • Act as underwriter of securities issued by others
  • Issue debt securities
  • Invest more than 10% of its total assets in securities of any single issuer except for the Ghana Government, its agencies or instruments
  • Lend money, except in connection with repurchase agreements and for investments made in accordance
  • Except with prior approval of SEC, enter into hedging transactions
  • Purchase or otherwise acquire any investment in which the liabilities of the holder is unlimited
  • Invest in precious metals or certificates representing them
  • Invest in companies for the purpose of exercising control
  • Purchase real estate, nor acquire any options, rights or interest in respect thereof provided that the Fund may invest in securities secured by real estate or in securities of companies investing in real estate
  • Invest more than 20% of its total net assets at the time of borrowing and only for liquidity purposes.
  • Borrow more than 10% of the total net assets of the Fund at the time of borrowing and only for liquidity purposes.
  • Invest more than 10% of the total net asset value of the Fund in schemes managed by the Manager.

Risks

Acknowledgement of Risk

Investors should recognize that investing in financial instruments involves certain risks and special considerations. The value of the Fund’s assets may be adversely affected by macroeconomic environment.

As a result of the risk considerations, it cannot be guaranteed that the Fund will achieve its stated investment objectives though the Manager of the Fund shall seek to preserve the value of your investment.

Parties

Other Parties to the Fund and their Addresses

  • Auditor: Baker Tilly Andah + Andah

Address:   4th Crescent, C645/3, Asylum Down

  1. O. Box 5443, Cantonments, Accra
  • Custodian Standard Chartered Bank (Ghana) Limited

Address:    P. O. Box 768, High Street, Accra, Ghana

  • Bankers: Standard Chartered Bank (Ghana) Limited

Address:    P. O. Box 768, High Street, Accra, Ghana