Republic Bank’s Unit Trust records 22.8% growth

The Republic Unit Trust recorded a net fund value of GH¢373.15 million in 2021 as against GH¢304.24 million in 2020, representing 22.83 per cent growth.

Total Assets also grew from GH¢306,101,055 in 2020 to GH¢373,158,420 while the number of unitholders increased from 45,777 in 2020 to 48,656 in 2021.

Mrs Madelore  Nettey, Chief Executive Officer, who disclosed this at the company’s 28th Annual General Meeting in Accra said the global economy after surviving the effects of the COVID-19 pandemic and transitioning into recovery had to deal with the emergence of Omicron variant in the latter part of last year.

She said that witnessed a sudden spike in cases globally, resulting in rising demand pressures due to supply chain bottlenecks and hikes in fuel prices.

She said on the domestic front, Real Gross Domestic Product (GDP) growth for the last quarter of 2021 was estimated at seven per cent, compared with an average contraction of 4.3 per cent recorded in the same period of 2020 which was issued by the Ghana Statistical Service.

Mrs Nettey said the stock market showed an improved performance in the year under review as compared to 2020.

‘This bullish rally of the market remained consistent until end of year’, she said adding that ‘this was due to revived investor confidence across the various sectors of the economy’.

Mrs Nettey said the strategies going on in 2022 would seek to consolidate gains made in the prior year, particularly in the skewed portfolio in favour of money market, securities, and government bonds.

She expressed the hope that an enhanced allocation would be pursued in other asset classes including corporate bonds and fixed deposits to diversify the investment concentration.

Source: GNA