MCOTTLEY UNIT TRUST FUND
Name and Nature of the Fund
The McOttley Unit Trust (“Mctrust”) is an open-ended Unit Trust Fund that seeks to achieve growth in income and capital. The Fund also aims at providing liquidity and conserving principal.
Investment Objective
The principal objective of the Trust is to generate long term growth by investing in a mix of capital market and money market instruments.
Fund Type
Open-ended
Fund Category
Balanced Fund
Inception Date
February, 2014
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
Trustee Fee
0.65% of the Net Asset Value of the Fund
Minimum Deposit
GHS 20.00
Regular Deposit
GHS 20.00
Investment Policy and Strategy
The Trust is authorized to invest in equities trading on Ghana Stock Exchange and other regulated exchanges across the world, fixed income securities (including government bills, bonds and notes) as well as fixed deposits.
The Fund’s risk-adjusted performance benefits from combining multiple sources of investment insights within a disciplined risk management framework.
Permissible Investment /Asset Allocation
The Trust is permitted to invest in fixed income securities, collective investment schemes and equities.
The fixed income instruments include:
- Government debt instruments (bonds, notes, bills)
- Corporate debt instruments (bonds, notes, bills)
- Fixed deposits
- Commercial Paper
- Bankers’ Acceptances, and
- Certificates of Deposits
The equity securities component comprises:
- Listed equities of companies on regulated stock markets within Africa,
- Unlisted equities as and when available,
| Asset Class | Target Allocation | Range |
| Money Market: Corporate & Governmental Issues | 50% | 20% |
| Listed Equities or Unlisted Private Companies | 50% | 20% |
Limitations on Redemption
A Unitholder cannot redeem units in an amount that will leave the holder with less than 200 units. However, a Unitholder is entitled to redeem all or, part of their holdings.
Income/Dividend Distribution Policy
The Trust shall not distribute any investment income either in the form of cash or units to registered Unit Holders. All investment income shall be reinvested in the Trust. Registered Unit Holders who wish to withdraw their earnings will have to either sell a part or, all of their Units held.
Front and Exit Load Fees
| · | Subscription fee | None |
| · | Redemption fee within 1 year | 2.50% |
| · | Redemption fee within 2 years | 2.00% |
| · | Redemption fee within 3 years | 1.00% |
| · | Redemption fee after 3 years | None |
Limitations on Investment
The Trust is subjected to certain investment limitations and portfolio diversification requirements. The Trust may not:
- Invest more than 10% of it’s net asset value into any type of real estate other than securities of real estate companies or companies that have engaged in real estate investment activities;
- Invest in commodities, futures or options;
- 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.
Other Parties to the Fund and their Addresses:
Auditor: AssuranceHub Consult
Address: GPS: GA-157-6218
House No. 704/1462, Forest Avenue,
George Bush Motorway
Trustee: Universal Merchant Bank (Ghana) Limited
Address:57, Examination Loop
North Ridge, Accra. P.O. Box GP 401,Accra, Ghana.
Bank Accounts (Bankers): Universal Merchant Bank (Ghana) Limited
Address: 57, Examination Loop
North Ridge, Accra, P.O. Box GP 401,Accra, Ghana.
