SAS Finance launches SAS Midas Fund

SAS Finance, an integrated investment banking and corporate finance advisory company has launched an open-ended mutual fund, Midas Fund which mainly invests in fixed income and money markets instruments like treasury bills, bonds and fixed deposit which are all lower risk type of investment.

Midas Fund is initially offering a minimum of 1, 000,000 shares. Midas Fund consists of an unlimited number of shares at an initial cost of GH¢0.50 per share and a minimum purchase is GH¢100.00 but after the January 18, 2019 deadline a minimum purchase of the shares will be GH¢10.00.

The minimum investment purchase of shares under the IPO is set at 200 shares and thereafter in multiples of 40 shares.

The initial offering period for shares of the Midas Fund began on Friday December 28, 2018 and ended on January 18, 2019 and is now opened for investments as low as Ghs10.

The fund is targeting both institutions, pension funds and ordinary Ghanaians who desire a safe avenue to invest for a rainy day.

In the wake of recent developments in the industry the SAS Midas Mutual offers a credible option for investors to patronise. In spite of the industry liquidity crunch, SAS has met all its client payments without delay, the Managing Director of SAS, Mr Ben Ahiaglo said

The Board of Directors of the Fund is responsible for the overall supervision of the operations of the fund.  The Chairman of the Board Mr Gyakabene Kwesi Amponsem assured the public. He added that the fund under the operation of the capable and experienced board of Directors will make Midas Fund a household investment product in Ghana.

SAS Finance Group has operated for the past 24 years and is licensed by the Securities and Exchange Commission (SEC) to set up and operate such funds.