Databank?s four funds ? Mfund, Epack, Balanced Fund and Ark Fund ? saw significant growth last year, recovering from a more challenging environment in 2011.

In 2012, the Mfund closed at an annualised yield of 14.8 percent, an improvement over the 2011 yield of 12.2 percent. The number of investors in the fund also increased by 8.4 percent from 50,640 to 54,894. Since its inception in 2004, the Mfund has provided cumulative returns of 155.9 percent.

The Epack gained 17.31 percent, closing at GH?1.03 per share in contrast to GH?0.88 percent in 2011.
Keli Gadzekpo, Chairman of Databank, said Epack remains focused on the pan-African strategy, which has proven effective in delivering sterling returns over the years.

?The fund?s cumulative return of 10,191 percent over the last 16 years, compared to that of the GSE (2,330%) in the same period, lends credence to the relevance of the pan-African strategy in ensuring tidy returns in the long haul.?

In 2012, the number of Epack shareholders decreased to 79,826 (2011: 83,097) and assets under management increased to GH?54million (2011: GH?52million).

Increased yields on fixed income instruments and the positive performance of the Ghanaian stock market in 2012 bode well for the Balanced Fund.

The fund generated an annual return of 16.8 percent, up significantly from 7.4 percent in 2011, and closed the year with a total of 6,233 shareholders.

Due to the increase in stock returns and interest rates in 2012, the Ark Fund recorded a return of 16.4 percent. This was a substantial improvement over the 2011 return of 5.9 percent.

The fund ended the year with assets under management worth GH?2.6million, with the total number of shareholders also increasing by 493 shareholders to close the year at 3,996 shareholders.

Early last year, Keli Gadzekpo, a co-founder of Databank Group, was named new Chief Executive Officer (CEO) following the retirement of Ken Ofori-Atta, then Executive Chairman of the Group.

Formerly the Executive Vice-Chairman of the Group, Mr. Gadzekpo was responsible for the overall financial and administrative management of the firm and garnered a solid reputation of having in-depth knowledge and understanding of domestic and international capital markets.

Keli holds a B.Sc in Accounting from Brigham Young University in the US and is a qualified CPA from the US where he worked with KPMG Peat Marwick in the Washington DC office and with Steuart Petroleum in a number of capacities.  

He is a Mason Fellow from the Harvard Kennedy School of Government where he obtained a Master?s in Public Administration in 2006.

By Bernard Yaw ASHIADEY


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