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Databank resumes lead role in asset management market

Executive Vice-President of Databank Financial Services, Keli Gadzekpo, says the company has repositioned itself to resume its role as leader in the asset management and private equity financing markets. Returns on products have slipped since 2009, but Mr. Gadzekpo told Luv Biz Report Databank has remained steadfast in developing strategies to serve the best interest of clients. Products of the company, including the Epack, M-Fund, Ark Fund and B-Fund, have been designed to serve specific interests in the investment spectrum. Over 70 percent of deposits are from contributions from the informal sector, according to Mr. Gadzekpo. He says Databank’s flagship mutual investment fund, Epack, has recorded a steady growth of 9,000 percent since 2006, though returns have declined within the past two year. Head of Assets Management at Databank, Reverend Daniel Ogbame Tetteh, says prospective investors should understand the dynamics of investing in shares and not to panic when stock prices are down. “Actually, the best time to invest in shares is when the stock prices are going down”, he emphasized. “In investing you pay the price but what you get is value… because the principle is that the price may have dropped but the value of those goods hasn’t dropped.” Rev. Ogbame Tetteh says investors have an advantage of make more money from a bargaining situation when share prices drops. He has particular entreated businesses to diversity income stream by channeling part of revenue into an investment instrument to yield additional returns for business growth. Meanwhile, Databank has commissioned a new office complex in Kumasi. The edifice is to adequately serve the investment needs of the Ashanti, Brong Ahafo and the three northern regions. According to Vice President of the Databank Client Services, Earl Ofori-Atta, Kumasi contributes about 20 percent of Databank’s total sales volume and plans to increase the numbers to 30 percent within the next five years. He says there are plans to help build the financial capacity of communities through the establishment of clubs in schools and other informal sector associations.

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.