GCB Capital Ltd, the investment banking subsidiary of GCB Bank PLC, has launched an investment product, the Golden Eagle Unit Trust, at a ceremony held at the Movenpick Ambassador Hotel in Accra. This innovative product is designed to provide both retail and institutional investors with a simple, accessible, and secure avenue to grow their funds.
The Golden Eagle Unit Trust is an open-ended collective investment scheme that invests in a diversified portfolio of domestic and offshore securities, aligning with the Securities and Exchange Commission’s (SEC) Capital Market Master Plan (CMMP). This Plan aims to position Collective Investment Schemes as the default choice for retail investors with funds below GHS100,000.00.
The Fund’s Initial Public Offering (IPO) targets to sell 500,000 units at an initial price of 1 Ghana cedi per unit. Investors can begin with a minimum purchase of 100 units (i.e. GHS100) and in multiples of GHS10 beyond that. The IPO, which opened on December 5, will run until January 9, 2025.
Kofi El-Awuku, Managing Director of GCB Capital Ltd, emphasised the importance of the Golden Eagle Unit Trust in addressing challenges in Ghana’s investment landscape. “What we have gathered here to do today is a reflection of our commitment to simplifying investments, providing easy access to everyone, and contributing to deepening the financial markets in Ghana,” he stated.
Deputy Director-General (Legal) of SEC, Deborah Mawuse Agyemfra, praised the initiative, highlighting its alignment with SEC’s regulatory efforts to strengthen Ghana’s domestic capital markets. She reaffirmed the regulator’s dedication to investor protection and market development, underscoring the rigorous approval process for new products to ensure transparency and safeguard investors’ interests.
A Vice President of GCB Capital, and Head of Fund Management, Akyaa Osei, assured stakeholders of the Fund’s accountability and transparency, noting, “The Fund will be valued daily, enabling managers to share timely market information, provide liquidity daily, and ensure that clients can easily enter or exit.”
The event was climaxed with a product unveiling led by the Board Chairman of GCB Capital Ltd, Socrates Afram, supported by another Board member, Sam Aidoo, the Deputy Director-General (Legal) of SEC Deborah Mawuse Agyemfra and the Managing Director of GCB Capital Ltd, Kofi El-Awuku.
The ceremony featured a detailed product walkthrough by Michelle Kitson Amoah and Akyaa Osei, followed by a robust Q&A session.
GCB Capital’s launch of the Golden Eagle Unit Trust underscores its mission to empower investors generally and retail investors in particular, deepen investment opportunities, and contribute to the expansion of Ghana’s capital markets. Investors are encouraged to take advantage of this opportunity to participate in the IPO before it closes on January 9, 2025.
