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The Chief Executive Officer of McOttley Holdings, Mr Kwesi Livingstone, has stated that the rate of bankruptcy of some microfinance companies in the country is a source of concern to investors. This, he noted, was affecting the country�s investment drive and deposit mobilisation. Speaking at the launch of the McOttley Unit Trust in Accra, Mr Livingstone cited the experiences of collapsed finance houses such as Pyram and R5 to make his case. �The general investment culture in Ghana is quite undeveloped. Ghanaians do not have the culture of investing. Besides that, there is a general risk aversion to investment in Ghana. Ghanaians do not want to invest in instruments when they can not really tell whether there is a guaranteed interest for them�. Mr Livingstone further stated, �The situation has been worsened by the collapse of microfinance Ponzi schemes like Pyram and R5 so fingers have been burnt and that is something that has probably contributed greatly to the risk aversion in the economy.� McOttley to boost confidence The CEO of McOttley Holdings said the company was working hard to boost investor confidence in financial institutions to help develop the investment culture in Ghana. �With the introduction of McOttley investment scheme, investment is picking up gradually, it will take a while before we get to the point that we can say Ghana is up there in terms of investment.� He said the McTrust, with its balanced approach, would boost people�s interest in investing in funds by catering for people with different risk profiles. "This is an open-ended fund established on January 1, 2014 with an unlimited duration. The Trust will invest in fixed income securities and listed equities." Launching the fund, Dr Kenneth Kwaku, Special Advisor to the former President of Tanzania, Benjamin Mkapa, admonished Ghanaians to put their confidence in instruments such as McTrust. He was certain the emergence of such funds would help the ailing Ghanaian economy to bounce back and advised Ghanaians to develop the habit of investing before they start spending, and not the other way round. The Head, Portfolio Management of McOttley Holdings, Madam Hilary Lomotey, encouraged the people to put their trust in McTrust. The Director General of the Securities and Exchange Commission (SEC), Dr Adu Anane, advised industry players such as McOttley Holdings to educate the Ghanaian populace that the capital market was not reserved for only the elite and the rich, and also advise investors on how to diversify their funds.