Mr. Kwabena Boamah, Portfolio Manager, Stanbic Bank

The Initial Public Offer (IPO) of the Stanbic Income Fund recorded 171% over subscription at the end of the offer. The bank’s Portfolio Manager, Kwabena Boamah said the Fund saw about 342 investors taking up the offer, out of which about 300 were individuals who made the purchases from their personal resources.

The Stanbic Investment Management Services (SIMS) -  Stanbic Income Fund (SIF) is an open-ended trust fund, which invests in fixed income securities intended to give high interest earnings to investors.

The IPO which lasted a month had 200,000 units on offer at a price of GH¢1.00 per unit.

The subscriber base of the fund is more than 800,000 and SIMS is promising good returns to the subscribers. The fund has Merchant Bank as its trustee.