Anidaso Mutual Fund increases investment income by 96.61%
The Anidaso Mutual fund (AMF), an investment fund managed by the New Generation Investment Services Limited (NGIS), recorded an increase in its investment income by 96.61 per cent in 2017.
The fund’s incomes in investments appreciated from GH¢223,019.00 in 2016 to GH¢438,488.00 in 2017, in the year under review.
Mr Edward Asamoah, General Manager of NGIS, said the increment came on the back of improved stock market performance and favourable micro-ecaonomic environment in the country.
Speaking at an Annual General Meeting (AGM) of the AMF in Kumasi, he said the Net Investment Income of the fund, also increased from GH¢134,071.00 in 2016 to GH¢331,981.00 last year.
However, the operating expenses increased by 147.62 percent, while total liability at the close of last year stood at GH¢39,258.00, representing 22.7 per cent of the preceding year.
Redemption of shares also increased from GH¢148,869.00 in 2006 to GH¢219,511.00 last year while the net value per share also came up from GH¢0.6411 to GH¢0.7735, representing an annual yield of 20.65 percent.
Mr Asamoah said the overall portfolio of the fund includes equities of GH¢1,098,503.00, money market instruments of GH¢1,640,307.00 as well as other assets in excess of liabilities of GH¢179,541.00.
He said the strong path of fiscal consolidation in 2017 would be expected to continue in 2018 through the allotment system which was expected to align expenditures to revenues.
Mr Asamoah said the 2018 growth prospect remains positive due to the expected support by crude oil production, gradual recovery in the non-oil sector and favourable business and consumer sentiments.
The decline in interest rate on fixed income securities would also boost the stock market performance and investors seeking long term investment would direct their funds to the stock market, thereby boosting the economy.
This, Mr Asamoah said, would impact positively on the performance of the fund, thus, the fund’s portfolio would be repositioned to take advantage of opportunities that would emerge in the financial markets.
Prof Daniel Yinkah Sarfo, the Chairman of the Board of Directors of NGISL, urged shareholders to increase their stake in the fund by buying on regular basis in order to enjoy the long-term benefit of the fund.
Source: GNA