HFC Investments operated originally under the name Home Finance Investment Fund (HFIF) when it was incorporated as a private limited liability company on July 17, 1993. It commenced business on August 26, 1993. In May 1991, HFC Investments established the first collective investment scheme in Ghana, the HFC Unit Trust. This was in a bid to continue the pacesetting tradition of its parent company, HFC Bank (Ghana) Ltd. In furtherance of its objectives, it then established the first Real Estate Investment Trust (REIT) in July 1995. Currently, HFC Investments – through its Managed Funds wing – manages four funds, the third and fourth being HFC Equity Trust and the HFC Future Plan Trust (F-Plan). Altogether, the company has over GHS450 million of funds under management (including pension funds).
The Company is authorized to carry on the following activities:
Investment management, and for that purpose acquires, holds, manages and deals in securities or property of any description as a principal or agent. Establish and manage funds for investment purposes including, but not limited to, real estate profit sharing and other financial transactions. Provide property management, financial and investment services. Providing investment advisory services to individuals, funds and corporate bodies.
The HFC Unit Trust, HFC REIT and HFC Equity Trust continued to dominate with a market share of 77% of total net asset values, out of the 18 licensed Unit Trust Schemes. The annual survey 2014 released by the Securities and Exchange Commission posted the following results represented by a pie chart as shown below:
Corporate Finance and Advisory Services
PRODUCTS AND SERVICES
HFC-BSL is positioned to meet the financial needs of its clients in the following areas:
Fixed Income Trading
Capital and Money Market Analysis & Research
Boafo, which means “helper” in the native Twi language, provides a “helping hand” to low- and moderate-income Ghanaians in their pursuit of business, shelter and educational opportunities. Boafo is providing loans thanks to funding from the Global Development Alliance (GDA) of the U.S. Agency for International Development (USAID) and the United Nations Slum Upgrading Facility (SUF), in addition to HFC Bank Ghana.
It is estimated that in Ghana, at least 1.9 million urban poor face limited access to credit to improve or build their homes or expand or start-up new enterprises. Boafo therefore provides support to small businesses and households through:
Loans to improve or expand homes in informal settlements.
Loans to expand businesses to improve household incomes.
Lower collateral requirements for loans to informal sector entrepreneurs than those required by other lenders.
Access to savings services through the HFC Bank.
Courses for clients on managing credit and home improvement projects.