We make payment receipt of cash in relation to all securities listed on the Ghana Stock Exchange on behalf of our Customers.
This follows the explanation above but is restricted to government of Ghana securities, mainly, treasury bills, t notes and t bonds.
Ownership of the securities is registered in the joint name of the bank and the client. The implication is that, these securities are separated from the asset of the bank, should the bank go under, assets of our clients (custodian clients) would not be touched.
The efficient management of the collection of interest and distributions from securities. It’s the custodians primary responsibility to ensure that returns on investments by our clients are received on value date. Any delays in payments should lead to claims in favor of our custodian clients.
A corporate action is any event that brings material change to a company and affects its stakeholders, including shareholders, both common and preferred, as well as bondholders. These events are generally approved by the company’s board of directors. Examples are, Bonus issue, Rights Issue, Dividend payments, mergers etc.
Basically we vote on behalf of our clients at AGMs and EGMs. A proxy vote is a ballot cast by one person on behalf of a shareholder of a corporation who would rather cast a proxy vote than attend a shareholder meeting. In summary custodian banks cast proxy votes for the securities in their portfolios, such as on behalf of mutual fund shareholders.
Investment analysis and monitoring to fund managers, Board of Trustees, and other service providers on the growth of their investments, compliance with local regulations and the client’s internal investment guideline. All stakeholders expect frequent reports on the development of portfolio companies, often including periodic assessments and calculations of “net asset value” (NAV).
