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Frequently Asked Questions (FAQ's)

Why should I choose SIC-FSL as my fund manager?

  • A track record in investment advisory and fund management spanning over a decade
  • Well trained and experienced management and staff
  • Robust and highly secured systems
  • Excellent customer service and client relationship management
  • Experienced research team that provides timely information  for investment decisions
  • Licensed by the National Pensions Regulatory Authority as a Pension Fund Manager and we are one of the few institutions selected to manage the Temporary Pensions Account during the implementation of the New Three Tier Pension System due to our expertise

What investment packages and services does SIC-FSL offer?

  • Discretionary Investment management account (DIMA)
  • Private Wealth management
  • Provident fund and welfare schemes management
  • Tier 2 & 3 scheme management

What is a Discretionary Investment Management Account (DIMA)?

This is a short term investment package that offers clients the flexibility of investing their funds for 3 months up to a maximum of one year. There are no hidden administrative charges and all assets of the account are held in trust for the investor, thus investors shall at all times be the sole beneficiary of the principal and all accrued interest.

What are the Features of the DIMA?

  • Minimum investment amount of GH¢100,000
  • No Management fees
  • Flexibility of investing for 3 months, 6 months and up to 1 year
  • Offers a benchmark return above treasury bill rates

 

What do I stand to benefit by choosing the DIMA investment package?

  • A safe way to ensure liquidity
  • High returns with competitive rates above prevailing treasury bill rates
  • Flexibility with interest withdrawals which can be done on monthly/ quarterly basis
  • Invested funds can be used as cash collateral to source for funds elsewhere.

What is a Private Wealth Management Account?

This product offers clients the luxury of investing in a variety of equities, fixed income securities, collective investment schemes and a range of other alternative investments based on the investors’ goal, risk profile and investment time horizon.

What are the benefits of having a Private Wealth Management Account?

  • Dedicated Fund Manager
  • Professional reporting on quarterly basis
  • Easy to Start (Minimum Initial Contribution of GHC 500.00)
  •  One can withdraw at any given time with no penalty
  • Low management fee
  • Access to market updates, analysis and research.
  • A diversified portfolio, tailored to suit your investment needs.

The account is benchmarked against the prevailing 1 year Treasury note. Funds in this product category currently earn an average return of 20.0% per annum. (This is however dependent on your investment profile and time horizon. This does not also guarantee future return

What does the Pension fund Management service of SIC-FSL entail?  

SIC-Financial Services is a licensed fund manager accredited by the National Pensions regulator to over fund management services for the Tier 2 and Tier 3 pension schemes.  We currently manage pensions funds in excess of GH¢17 Million with the National Communications Authority and Ashanti Region rural bank amongst our notable clients.

What is the Three Tier Pension Scheme?

The first tier is a basic national social security scheme which is managed by SSNIT. The second tier and the voluntary third tier are privately managed by approved Trustees licensed by the NPRA with the assistance of pension fund managers and custodians registered by the National Pensions Regulatory Authority.                           

What are the benefits of choosing SIC-FSL as a pension fund manager?               

  • Experienced and dedicated pension fund management services
  • We offer assistance in the registering of the scheme and assist in processing all documentations such as trust deed, Investment policy etc.
  • Assist institutions in appointing other service providers for the scheme such as trustees and custodians
  • Free training for employees on the New three tier Pension scheme, its processes and benefits
  • Regular presentations and reports on the performance of the scheme
  • Negotiable management fee charges

What is a Provident Fund?

This is an investment fund contributed to by employers and employees for future withdrawal in times of need or upon retirement.  It is a defined contribution plan established as a legal entity separated from the sponsoring employer.

What are the features of a Provident Fund?

  • It constitutes the Employees,  Board of Trustees, a fund manager and a custodian
  • The Fund consists of money contributed by both employer and employees.
  • The Administration of the Traditional Provident fund comprises of Writing a Trust Deed, Composition of Board of Trustees, Accounting & auditing Payment of Management Fee and Payment of expenses incurred by Trustees.
  • The  fund has set rules and regulations regarding the payment of contributions, account keeping and frequency of withdrawals
  •  Deductions tax exempt.

How beneficial is a Provident Fund to employers and employees?

  • A guaranteed source of long-term savings after retirement.
  • A cushion in times of peril such as death, retrenchment or resignation.
  • It is a kind of fringe benefit employers offer to motivate employees and reduce staff turnover.

What are the benefits of choosing SIC-FSL to manage my Provident Fund?

  • Low and negotiable management fee options
  • Competitive returns on invested funds
  • We offer assistance in processing all documentations such as trust deed, Investment policy etc.
  • Free training for employees on the benefits and modus operandi of the fund
  • Regular presentations and reports on the performance of the scheme
  • Online access of statements for each contributor
  • Quick turnaround time for the processing of withdrawals