Databank EDIFUND

Ghana Stock Exchange



With the cost of quality education increasing at a higher rate than most peoples income, it gets a little harder each year to pay the bills and still have enough money set aside for your childs future education. So how do you give your child the quality education you desire for them, without being stressed on a daily basis? Databank Educational Investment Fund (EdIFund) offers you the solution.
EdIFund is a mutual fund created to help people invest towards financing their educational needs. Its innovative two-tier structure offers you the complete package including: a short-term investment component (Tier 1) for current and recurring educational needs, and a long-term investment component (Tier 2) for future educational needs, and a built-in Life and Total Permanent Disability insurance cover to protect your investment in the event of tragedy.
To achieve their objectives, Tier 1 invests up to 30% in equities in Ghana and other parts of Africa, and between 70% to 100% in fixed-income products, while Tier 2 invests up to 60% of its investments in equities in Ghana and other parts of Africa, and between 40% and 60% of its resources in fixed-income products.
EdIFund seeks to provide you with the peace of mind that comes with knowing your educational needs are being taken care of. Take control of your education. Invest wisely. Invest in EdIFund.

  • Peace of Mind: EdIFund offers you both stability and the potential for growth in the same investment. Stability will come from maintaining a well-diversified portfolio of fixed-income securities within the Fund, while the growth potential will come from identifying and investing in companies with quality management teams, competitive positions, regular profits and good cash flow positions.
  • Protection: We have partnered with Ghana’s leading and most trusted insurance provider, Enterprise Life Assurance Company, to offer EdIFund’s Tier 2 investors an embedded life and total permanent disability insurance cover. This ensures that in the event of your death or total permanent disability, your balance (including deposits and returns) in the Tier 2 portion of the account is not only covered, but matched up to a maximum of GHC 20,000. The policy ensures there is no shortfall in the planned savings amount when death arises or a disability occurs. Your child can still realize his or her dream of a better education.
  • Proven Fund Management Experience: Databank has been successfully managing people’s investments and creating wealth for Ghanaians, both on a local and international scale, for the last two decades. We manage your investments as though it were our own money. The team has one goal: Build and protect your wealth patiently and responsibly over time to achieve a long-term investment performance that is among the best of our competitor peer groups.

How can you invest in EdIFund

Lump-sum investment: Minimum GHC 200
Regular investment plan: Minimum GHC 20

Getting started is as easy as 1-2-3

Quality education doesn’t have to be limited to those who are considered wealthy. We believe that by (1) knowing how much you need to invest, (2) investing regularly toward that goal, and (3) making EdIFund the fund of choice, you can enjoy the peace of mind that comes from knowing your child’s education is being catered for.

Sign up for Databank Educational Investment Fund today. Call or visit one of our branches to get started.

1. What is Databank Educational Investment Fund?
Databank Educational Investment Fund (EdIFund) is a mutual fund created to help parents and guardians invest for their child’s short and long-term educational needs. The Fund is also ideal for individuals seeking to further their education.

2. Why should I invest in EdIFund?
Peace of mind: With EdIFund, you can go beyond just hoping for a quality education for you or your child, and enjoy the peace of mind that comes from knowing you are actually taking concrete steps toward achieving that goal.
Protection: In the event of death or total permanent disability, your balance (including deposits and returns) in the Tier 2 portion of the account is not only covered, but matched up to a maximum of GHC 20,000.
Proven fund management experience – EdIFund is backed by Databank’s 28-year track record of successfully managing people’s money through mutual funds, equity and fixed-income investments.

3. What is the minimum investment amount in EdIFund?
The minimum initial investment into EdIFund is GHC 200. If you opt to do a regular investment plan, the minimum monthly contribution is GHC 20.

4. How do I qualify for the insurance cover?
Once you have GHC 100 or more in Tier 2 of EdIFund, you will automatically qualify for the insurance cover. There is no medical exam or questionnaire that is required.

5. How much of my investment is covered in the event of death or total permanent disability?
The insurance policy will cover your investments in Tier 2 (only) that are GHC 100 or more, and will match the amount up to GHC 20,000 in case of your death or total permanent disability. For example, if your Tier 2 balance is GHC 2,000 at the time of your death or disability, you will receive an additional GH 2,000. Likewise, if your Tier 2 balance is GHC 20,000 or more, Databank will pay you an additional GHC 20,000.

6. How old do I need to be to invest in EdIFund?
Investors must be 18 years or older. Anyone below that age will require a parent or guardian to open the account in trust for him or her. Investors above age 60 can also invest in EdIFund for the same purpose; however, they will not be eligible for the insurance cover.

7. Can I access the funds in my investment anytime I need money?
Yes. While you can access your funds at any time, it is recommended that each contribution remains in Tier 1 for at least 3 months and at least five years in Tier 2 before withdrawing. This is to ensure you can realize potential gains from your money remaining invested.

8. Can the money withdrawn be paid directly to the institution? (e.g., foreign universities)
Databank can’t transfer funds directly to your designated institution. However, you can instruct us to issue a cheque in the name of the institution during the redemption process. Payments outside Ghana can’t be undertaken by Databank as our licence doesn’t allow for this feature.

9. What is the process for making a claim?
You or your next of kin must notify Databank of the event triggering the claim (i.e., death or disability). Databank will provide the requestor with the claims form to complete and a list of required documentation.
All paperwork must be submitted to Databank, who will in turn forward it to Enterprise for processing. If all paperwork is in order, you or your next of kin will receive the claim payment within 5 business days.

10. How much does the insurance policy cost?
The monthly cost of the insurance is 0.081% of the value in your Tier 2 investment. For example, if your Tier 2 balance is GHC 1,000, we would deduct 81 pesewas from your Tier 2 EdIFund investment to cover the cost of your insurance. The cost of insurance will change based on the value of your account each month.

Asset allocationEquity: 30% Fixed income: 70%
Fund typeBalanced Fund
Front load charge0.75% on every deposit
Recommended holding periodAt least 3 months
Minimum investment (lump sum)GHC 200
Minimum monthly contributionGHC 20
Asset allocationEquity: 40% Fixed income: 60%
Fund typeBalanced Fund
Exit load charge5% (Year 1), 4% (Year 2), 3% (Year 3), 2% (Year 4), 1% (Year 5)
Recommended holding periodAt least 5 years
Minimum investment (lump sum)GHC 200
Minimum monthly contributionGHC 20
+ Why Invest in EDIFUND
  • Peace of Mind: EdIFund offers you both stability and the potential for growth in the same investment. Stability will come from maintaining a well-diversified portfolio of fixed-income securities within the Fund, while the growth potential will come from identifying and investing in companies with quality management teams, competitive positions, regular profits and good cash flow positions.
  • Protection: We have partnered with Ghana’s leading and most trusted insurance provider, Enterprise Life Assurance Company, to offer EdIFund’s Tier 2 investors an embedded life and total permanent disability insurance cover. This ensures that in the event of your death or total permanent disability, your balance (including deposits and returns) in the Tier 2 portion of the account is not only covered, but matched up to a maximum of GHC 20,000. The policy ensures there is no shortfall in the planned savings amount when death arises or a disability occurs. Your child can still realize his or her dream of a better education.
  • Proven Fund Management Experience: Databank has been successfully managing people’s investments and creating wealth for Ghanaians, both on a local and international scale, for the last two decades. We manage your investments as though it were our own money. The team has one goal: Build and protect your wealth patiently and responsibly over time to achieve a long-term investment performance that is among the best of our competitor peer groups.
+ Getting Started

How can you invest in EdIFund

Lump-sum investment: Minimum GHC 200
Regular investment plan: Minimum GHC 20

Getting started is as easy as 1-2-3

Quality education doesn’t have to be limited to those who are considered wealthy. We believe that by (1) knowing how much you need to invest, (2) investing regularly toward that goal, and (3) making EdIFund the fund of choice, you can enjoy the peace of mind that comes from knowing your child’s education is being catered for.

Sign up for Databank Educational Investment Fund today. Call or visit one of our branches to get started.

+ F.A.Q

1. What is Databank Educational Investment Fund?
Databank Educational Investment Fund (EdIFund) is a mutual fund created to help parents and guardians invest for their child’s short and long-term educational needs. The Fund is also ideal for individuals seeking to further their education.

2. Why should I invest in EdIFund?
Peace of mind: With EdIFund, you can go beyond just hoping for a quality education for you or your child, and enjoy the peace of mind that comes from knowing you are actually taking concrete steps toward achieving that goal.
Protection: In the event of death or total permanent disability, your balance (including deposits and returns) in the Tier 2 portion of the account is not only covered, but matched up to a maximum of GHC 20,000.
Proven fund management experience – EdIFund is backed by Databank’s 28-year track record of successfully managing people’s money through mutual funds, equity and fixed-income investments.

3. What is the minimum investment amount in EdIFund?
The minimum initial investment into EdIFund is GHC 200. If you opt to do a regular investment plan, the minimum monthly contribution is GHC 20.

4. How do I qualify for the insurance cover?
Once you have GHC 100 or more in Tier 2 of EdIFund, you will automatically qualify for the insurance cover. There is no medical exam or questionnaire that is required.

5. How much of my investment is covered in the event of death or total permanent disability?
The insurance policy will cover your investments in Tier 2 (only) that are GHC 100 or more, and will match the amount up to GHC 20,000 in case of your death or total permanent disability. For example, if your Tier 2 balance is GHC 2,000 at the time of your death or disability, you will receive an additional GH 2,000. Likewise, if your Tier 2 balance is GHC 20,000 or more, Databank will pay you an additional GHC 20,000.

6. How old do I need to be to invest in EdIFund?
Investors must be 18 years or older. Anyone below that age will require a parent or guardian to open the account in trust for him or her. Investors above age 60 can also invest in EdIFund for the same purpose; however, they will not be eligible for the insurance cover.

7. Can I access the funds in my investment anytime I need money?
Yes. While you can access your funds at any time, it is recommended that each contribution remains in Tier 1 for at least 3 months and at least five years in Tier 2 before withdrawing. This is to ensure you can realize potential gains from your money remaining invested.

8. Can the money withdrawn be paid directly to the institution? (e.g., foreign universities)
Databank can’t transfer funds directly to your designated institution. However, you can instruct us to issue a cheque in the name of the institution during the redemption process. Payments outside Ghana can’t be undertaken by Databank as our licence doesn’t allow for this feature.

9. What is the process for making a claim?
You or your next of kin must notify Databank of the event triggering the claim (i.e., death or disability). Databank will provide the requestor with the claims form to complete and a list of required documentation.
All paperwork must be submitted to Databank, who will in turn forward it to Enterprise for processing. If all paperwork is in order, you or your next of kin will receive the claim payment within 5 business days.

10. How much does the insurance policy cost?
The monthly cost of the insurance is 0.081% of the value in your Tier 2 investment. For example, if your Tier 2 balance is GHC 1,000, we would deduct 81 pesewas from your Tier 2 EdIFund investment to cover the cost of your insurance. The cost of insurance will change based on the value of your account each month.

+ Fund Details Tier 1
Asset allocationEquity: 30% Fixed income: 70%
Fund typeBalanced Fund
Front load charge0.75% on every deposit
Recommended holding periodAt least 3 months
Minimum investment (lump sum)GHC 200
Minimum monthly contributionGHC 20
+ Fund Details Tier 2
Asset allocationEquity: 40% Fixed income: 60%
Fund typeBalanced Fund
Exit load charge5% (Year 1), 4% (Year 2), 3% (Year 3), 2% (Year 4), 1% (Year 5)
Recommended holding periodAt least 5 years
Minimum investment (lump sum)GHC 200
Minimum monthly contributionGHC 20
Databank Financial Services Limited