Stanchart courts investors with innovative Wealth products

Setor Quashigah, Executive Director, in Charge of Wealth Management at Standard Chartered(Stanchart) Bank has urged the public to take advantage of the numerous high interest yielding products offered by the bank rather than seek such investment opportunities abroad.

According to her, the investment products offered by the bank compares favourably with similar products offered by other financial institutions in other parts of the world.

Coupled with the high performing products, the bank she said, has the very qualified team in place to guide investors regarding the sort of products that will meet their risk appetite.

In an interaction with journalists in Accra, Ms. Quashigah said Stanchart remains one of the few banks in Ghana that offers a diverse portfolio of investment instruments aside the traditional options like mutual funds, T-bills etc.

She said, the bank beyond its primary leadership in government bonds, has the license to deal in the secondary market which is the retailing of government bonds like Eurobonds, T-Bills among others.

Ms. Quashiga revealed that Stanchart has designed products such as Wealth Lending, which allows investors to borrow up to 50 percent of their investment in for example the Eurobond, for reinvestment in other secondary market securities.

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“If for example you have invested 200,000 dollars in a Ghana Eurobond and you want to borrow against it, why not, we can give you up to 50 percent, that is 100,000 dollars at a rate up to 5 percent.

“You can then invest that money in some mutual fund and take monthly interest. You can even invest it in the Energy Sector Levy Act (ESLA) bond where you can make some gains.

“We have launched ‘Wealth Lending’ to give investors a variety of products. When it comes to investment, we provide our investors with advisors who measure the risk level of potential investors before they take a decision,” she said.

Ms. Quashigah said having started Wealth Management about four years, the bank has successfully built its asset under management (AUM) to above US$150 million with the bank recording 110 percent increment in AUM between 2016 and 2017.

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