In the wake of the challenges faced by the financial services and banking industry, Gold Coast Holding a group of financial services company which includes Gold Coast Fund Management, Gold Coast brokerage, Gold Coast Advisors and Gold Coast Trustees wishes to assure its clients that it will continue to work with discipline to ensure their investments are safe.
For 25-years, Gold Coast has created and preserved wealth for its clients with sound investment advice and has never lost a pesewa for any of its clients, this underscores the integrity of the firm. We, therefore, wish to assure our customers to be comforted, keep faith with us and not panic.
In the past few months, Gold Coast Fund management has faced panic redemptions of investments by clients as a rational response to the challenges being faced by the financial services industry, particularly, upon the collapse of some banks. As a result, in these past months alone, the company has made very huge and significant payments to its clients who are calling for their funds yet to
It is important to note that no investment company can survive if even 25% of its customers run to redeem their funds invested in long term productive activities prematurely and at the same time.
Gold Coast has made invaluable contributions to the Ghanaian economy by helping to pre-finance over 600 infrastructure projects across the country, including roads, schools, hospitals, bridges, market complexes etc. This has created thousands of jobs and developed a large core of Ghanaian contractors.
To preserve and protect all client funds and the investments that have been made, we wish to appeal to our clients to control the pace of redemptions.
The bulk of the funds with Gold Coast today are invested in the pre-financing of government’s infrastructure projects. For the past three years, some of the contractors whose projects have been completed have not received any payments. Fortunately, payments from the government agencies have started to come in though in smaller amounts than expected. we believe that government will make good on these receivables.
In the light of these happenings, from now on, we will limit payments to the amounts received from government agencies to be made for matured investments only while we appeal to clients to allow their investments to travel to its full tenure.
We wish to further assure our clients who are experiencing delays in accessing our services that all efforts are being made to meet the unusually high demands stemming from the seeming lost investor confidence in the Financial Services Industry.
As a senior member of the Fund Management industry, Gold Coast welcomes the new industry reforms and would continue to work with its regulators to maintain the integrity and confidence in the industry and instill market discipline while creating value for its customers.
We urge our customers to keep faith with us and TRUST us as the industry goes through this phase.
Gold Coast remains your TRUSTED Fund Manager – for 25 years – still offering investment advice worth its weight in Gold.