[2008-07-23]  Epack leads the investment pack
Following a remarkable appreciation in pricing coupled with an impressive inflow of new investment income and the eventual award as the Best Institutional Investor in Africa at the prestigious Ai index awards, Databank's Epack Investment Fund is not resting on its oars.

Shareholders at the Annual General Meeting were glad to know that as at December 2007, Epack continued to provide exceptional returns to its shareholders, far ahead of all other mutual funds in Ghana.

The fund's share price increased by 51% from GH¢ 0.5708 in 2006 to GH¢0.8631 by December 2007, compared to a 32% return for the Ghana Stock Exchange. Epack also emerged the best performing long term investment in Ghana.

The Annual General Meeting disclosed to shareholders that, very prudent and shareholder friendly moves enabled a rocketing increase in the fund’s total value from Gh¢38.3million in 2006 to Gh¢86.4million by close of December 2007 representing a whopping 126% jump compared to a 21% appreciation in the market capitalization of the Stock Exchange.

A total of 19,614 new shareholders also joined the fund, while 1,804 investors dis-invested from the fund within the same period.

Ken Ofori Atta, Chairman of Databank Group said despite gross improvements in capital gains and assets, the challenge now lies with evangelising the fund in a much more effective way to the desired target of having two million Ghanaians investing in the fund and to manage the fund to the tune of about US$ 2 billion by 2010.

This requires partnering with the various banks to network across the country and also continue managing the fund as it has been done through the years whilst improving the key areas of technology, performance and infrastructure.

Epack shareholder will also benefit from a new Information Technology system that allows them to access their statements and to make it easier to for them to top up their shares in the various funds. This will be linked to the floor of the Stock Exchange thus ensuring the breath and capacity to deliver goods and services to the shareholders, he added.

The fund in 2007 extended its investments to Telecommunications and Construction when it invested in MTN group, Telecom South Africa (both listed on the South African stock market) and the West African Portland Company Limited listed on the Nigeria Stock Exchange.

The annual report also told shareholders of the fund’s consolidation of its position in the financial sector by adding BRAITS South Africa to its stockholdings, but it de-listed from the British American Tobacco as the company was being de-listed from the Ghana Stock Exchange.

Source: © Copyright of Statesman 2005.