THE MARSHALLAN SECURITY TRUST (MST)
THE MARSHALLAN SECURITY TRUST (MST)
“Give a man a fish; you have fed him for today. Teach a man to fish; and you have fed him for a lifetime”—Author unknown
The Noble Order of the Knights of Marshall is one of the Catholic Fraternal Societies recognised by the Holy See. Like the other kindred Knighthoods, the Order is dedicated to providing its members with the opportunities for Spiritual growth, Social growth, Charitable growth and Financial Security. For the purpose of providing its members with the opportunity of attaining financial self-reliance, the Noble Order established the MARSHALLAN SECURITY TRUST. A Collective Savings Scheme to which every Marshallan is directed to contribute for his or her own use and benefit a minimum amount of FIVE GHANA CEDIS (GH¢5.00) a month.
The specific objective for the establishment of the scheme was to create the financial resources necessary for the individual Knight and Lady principally to avert situations that necessitate the passing of the hat and to attain their life-time needs.
The Fund Managers and Administrators:
The Fund is be managed and administered by the UMB Investments Holdings Limited (UMBIHL) a subsidiary of the Universal Merchant Bank Limited and licensed by the Security and Exchange Commission as an investment adviser. It is also licensed by the National Pension Regulatory Authority as a pension fund manager.
The Fund Custodian:
The Universal Merchant Bank Limited is a bank and licensed by the Securities Exchange Commission as a custodian and by the National Pension Regulatory Authority as a pension fund custodian. In its capacity as the “Custodian of the Marshallan Security Trust, it receives contributions remitted by members of the Trust on behalf of the Trustees, settles transactions executed by the Fund Managers and undertakes activities related to the administration of the investments including the collection of dividends and related activities.
The Fund Managers guarantee an initial income equivalent to the Government of Ghana 91-day Treasury Bill Interest Rate and an additional 40% of income accrued on the Portfolio above the 91-day Treasury Bill interest rate to the contributor. The Fund Managers retain 40% as Management fee and the remaining 20% is shared equally between the Supreme Council/Grand Court and the contributor’s Council or Court as the case may be.
Performance of the Fund:
As at December 31, 2014, 1,399 Brothers from 38 Councils and 431 Sisters from 14 Courts had to their credit the sum of GH₵600.000.00 held in various investment portfolios.
The statistics or the “League Table” which depicts the standings of the various participating Councils and Courts is attached.
The 90th Anniversary:
The year 2016 would mark the 90th anniversary of the founding of the Noble Order and as usual the achievements and failures of the Order would be identified and celebrated. One of the achievements that would be most celebrated should be the establishment of the Marshallan Security Trust. We have therefore challenged ourselves to reach the One Million Ghana Cedis threshold by the time we celebrate the climax of the anniversary.
With the permission of the Supreme Knight, we wish to appeal to all of us to double our participation in the Scheme. We urge the passive participants to endeavour to become active participants and Marshallans who are not participating in the scheme to join now and be part of the success story.
The Noble Order appreciates the fact that “Charity begins from home” and has consequently provided its members with the opportunity that will prevent them from becoming objects of charity provided they avail themselves of the benefit offered by the Order through the MST.
Anthony K Apaloo