Investment market gets second money market mutual fund
A second money market mutual fund has been launched by investment firm First Banc Financial Services.
The short term fund aims to invest resources from individuals and organizations in high yielding instruments for high returns and targets individuals with both high and low incomes.
Head of Marketing and SME, Evron Hughes, tells Joy Business the fund is highly liquid and will provide investors returns on a daily basis.
“You get diversification by investing in the fund. Every day, we calculate the gains you have made so there is a value to your investment on a daily basis. That one you are sure that your money is working forward,” he said.
The Deputy Minister of Finance Seth Tekpe lauded the fund managers for their efforts to mobilize private capital to support the economy.
He said government is keen on supporting the private sector to grow.