Databank Group’s mutual funds, namely MFund, BFund, Epack and ArkFund all recorded very impressive performances in the 2014 calendar year, and outperformed their respective benchmarks.

This was disclosed at the annual general meetings for the mutual funds held on Wednesday July 22, 2015 at the Accra International Conference Centre.

Addressing the MFund shareholders, Mr. Keli Gadzekpo, Board Chairman of the Fund, stated that MFund posted an annualized yield of 26.31%, outperforming both the 91-day Treasury bill and average savings rate.

The Fund also witnessed a 26% increase in its assets under management, ending the year at GHC 133.11 million, on the back of the strong performance and the growth in shareholders and inflows.

Group CEO of Databank, Kojo Addae-Mensah, who is also Board Chairman of Databank Balanced Fund (BFund), also disclosed at the meeting that BFund, the best investment vehicle for retirement planning, recorded a return of 24.8%, despite the challenging investment climate in 2014. The AUM of the Fund also grew to GHC 13.3 million from GHC 9.9 million (as at 31st December 2013).

It was also disclosed that BFund is working hard towards achieving its medium-term objective of activating the Fund’s pan-African mandate by making direct investments in listed equities outside Ghana.

Speaking on the performance of Epack, Ghana’s first equity mutual fund, Board Chairman for the Fund, Keli Gadzekpo, stated that Epack reordered a performance of 39.58% in 2014, outperforming all its competitors by very huge margins.

The Fund also outperformed the Ghana Stock Exchange, which recorded a performance of 8.90% in 2014. Mr. Gadzekpo also mentioned that the Fund’s Assets under Management (AUM) increased from GHC 95.6 million in 2013 to GHC 132 million at the end of 2014, despite the challenging investment climate.

As at the end of 2014, the Fund was invested in the following 10 stock markets across Africa: Malawi, Egypt, Ghana, Kenya, Mauritius, Nigeria, South Africa, BRVM, Tanzania and Uganda. Databank ArkFund also recorded a yield of 16.04% by the end of 2014. ArkFund, which is Ghana’s only ethical investment fund, witnessed a growth of 14% in its AUM. The Fund is guided by five strong values, namely prosperity, sustainability, environmental sensitivity, social responsibility and safety.

As part of Databank Group’s 25th anniversary celebrations, the Board Members and Shareholders jointly cut a cake to mark the milestone.