Fund Manager of the First Banc Heritage Fund, Winslow Sackeyfio has bemoaned the low level of interest of Ghanaians in long term investment.
Mr Sackeyfio said this attitude has more to do with the Ghanaian culture and upbringing.
He was speaking at the 5th Annual General Meeting (AGM) of the First Banc Heritage Fund in Accra.
“We are extremely short term. Very few Ghanaians think long term. Ghanaians are naturally short term, and when it comes to investment, we are extremely bad. The normal period for long term is 5-10 years, but in Ghana, its 3-5 years. If you talk to a Ghanaian about 5-10 years investment, you won’t see them again. It’s more of a culture thing, and its affecting our investment life style,” he lamented.
According to him, education was the only means to salvage the situation
“The only way out is education. We at Heritage Fund go out to schools, institutions, and hold seminars and forums, on the relevance and the need to venture into long term,” he said.
He enumerated the returns the Heritage Fund has made, reiterating the funds commitment to risk management.
“Compared to a market of 11.1, which shows we outperformed the central market. We attained this height based on astute measures and good customer relations. We are optimistic about the fund, and will make more returns come next year,” he optimized.
In spite of the unimpressive performance of the stock market, the Heritage Fund made profit returns of 4.23% at the end of 2015, making more returns than the central bank of Ghana
The First Banc Heritage Fund is a long term investment fund, which remains committed to ensuring solid growth and long term value.
Story by Grace Asare | 3FM | 3news.com