Support regulator to sanitise securities sector -SEC boss
The Director-General (DG) of the Securities and Exchange Commission (SEC), Reverend Daniel Ogbarmey Tetteh, has urged market operators and investors to support the regulator to sanitise the securities industry.
He said the importance of savings and investments for individuals and the economy as a whole was enormous and it was, therefore, necessary to sanitise the sector for it to thrive.
The Director-General also advised all market operators to live up to their fiduciary role with professionalism.
At the launch of Tesah Capital’s Treasury Trust, which is a risk-free collective investment scheme, he said “Savings and investments are very crucial and critical to the growth of every economy and it is, therefore, necessary for the commission to support any such initiative.
He, however, asked the public to ensure that they were well-informed about investment opportunities before committing to them.
That, he said, would help safeguard their investments.
“It is important for the investing public to understand their responsibility.
When it comes to investment; at the minimum, you must seek to understand the product,” he stated.
Investment scheme
The Tesah Treasury Trust is a money market unit trust that will invest only in government and quasi-government securities such as treasury bills, notes and bonds.
The Managing Director of Tesah Capital, Mrs Eugenia Basheer, said that would take away issuer risk from the trust and could, therefore, be said to be a zero risk fund.
“To enable anyone and everyone invest in the trust, there is no minimum investment amount.
There are no charges for investing in the fund and there are no charges for withdrawing from the fund.
The trust presents the perfect opportunity to make a return on your money and still have access to it anytime you need it,” she said.
The ceremony also saw the unveiling of another collective investment scheme known as the Tesah Future Trust, as well as the company’s digital platforms.
Mrs Basheer said the introduction of the two collective investment schemes was in response to a directive from SEC, that all investment amounts below GH¢100,000 should be in collective investment schemes.
According to Mrs Basheer, the schemes were major tools for the mobilisation of funds for economic development.
“Considering the advantages to investors and to economic growth and development, we need to actively drive the growth of Collective Investment Schemes in Ghana,” she said.
“Investing should not be the preserve of a few affluent people. We aim to change the rhetoric by creating avenues for everyone, including those who do not have a lot, to create wealth through investments, while those who have a lot also continue to get more,” she stressed.
The other collective investment product unveiled at the same ceremony was the Tesah Future Fund, which Mrs Basheer described as “a balanced mutual fund which invests in a carefully selected mix of equities and fixed income securities.”
She added: “The equity investments permit rapid growth while the fixed income investments guard against fluctuations caused by changes in prices of the equities in the portfolio.
The Tesah Future Fund is ideal for investors with medium to long-term wealth growing objectives and who are willing to accept some risk in exchange for return.”
The President of the Ghana Securities Industry Association (GSIA), Mr Winston Nelson Jr, congratulated Tesah Capital on “adding a further push to the collective investment scheme segment of the market”.
Tesah Capital is an asset management company in Ghana, providing investment management and advisory services to pension trustees, financial and non-financial institutions, corporate organisations and individuals.