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| HFC to diversify operations |
6/30/2005 |
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Home Finance Investments Limited, a subsidiary of HFC Bank Ghana is moving to diversify its investments to stimulate the growth of its unit trust fund.
Figures released by the company indicate that the fund’s value increased from 79.8 billion cedis to 194.4 cedis last year, representing a 144 percent jump over the figure for 2003.
Unit holders also doubled to over 13,000 the same period.
Officials say the performance notwithstanding, the fund’s investment portfolio needs to be adequately diversified to achieve appreciable returns at minimal risk.
Speaking to JOY Business Report after the annual general meeting of the company in Accra, Managing Director of HFC Investments Services Emmanuel Yankey said the trust intends to employ vigorous marketing to achieve a fund value target of 200 billion by the end of this year.
Mr. Yankey was hopeful that the stock market which is experiencing a slow down will soon become more bullish to boost the fortunes of the fund.
Source: Joy FM (Ghana)
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