The Anidaso Mutual Fund, under the management of New Generation Investment Services Limited (NGIS) in Kumasi, has recorded an impressive growth in investment income of GH¢438,488 in the 2017 year under review, being an increase of 96.61% from the GH¢223,018 posted in 2016.
The Net Asset Value of the Fund stood at GH¢2,918,357, representing 50.54% increase from GH¢1,938,597 in 2017. This follows a 19.74% increase in management and operating expenses from GH¢88,948 to GH¢106,507.
This development, among others, brought the Net Asset Value per share to GH¢0.7735 from GH¢0.6411 recorded in 2016, representing an Annual Yield of 20.65%.
However, Total Liabilities for the year under review stood at GH¢39,258 – which is 22.78% more than the preceding year.
The overall portfolio of the Fund includes Equities of GH¢1,098,503 which constitute 37.61%, Money Market Instruments of GH¢1,640,307 making 56.17%, and other assets in excess of GH¢179,541 liabilities which form 6.51%.
Presenting the Fund’s financial position to shareholders at their Annual General Meeting (AGM), the General Manager of NGIS, Mr. Edward Asamoah, attributed its performance to improved Stock Market performance and a favourable macro-economy.
Commenting on the Fund’s outlook for 2018, he noted: “The strong path of fiscal consolidation in 2017 will be expected to continue in 2018, through the allotment system which is expected to align expenditures to revenues”.
He alluded that the decline in interest rates on fixed income securities will boost stock market performance; and investors seeking long-term investment will direct their funds to the stock market, thereby boosting economic activity.
He further projected that these developments will impact positively on the Fund’s performance. But he added that the downside risks to the positive economic outlook cannot be underestimated, as rallying crude oil prices could lead to hikes in price of petroleum products.
“We will therefore reposition the Fund’s portfolio to take advantage of opportunities that will emerge in the financial markets.”
Speaking later in an interview with the B&FT, he indicated that the happenings within the financial industry one way or another affect operations of the Fund.
But despite this, he mentioned that the Fund managers make the effort to educate customers about the safety of their investments.
During the period under review, the stock market recovered impressively from its bearish performance by recording positive returns to close the year – the first since 2015.
The Ghana Stock Exchange Composite Index recorded a return of 52.73% compared to -15.33% recorded in 2016. The Financial Stock Index, which measures the performance of financial stocks, closed the year at 53.34% compared to the -19.93 recorded in 2016.
The chairman of the Board of Directors, Archbishop of the Anglican Church M. Rev. Arch. Prof. Daniel Yinkah Sarfo, in his statement to shareholders, said the Fund remains one of the best-performing collective investment schemes in the country.
He therefore encouraged the shareholders to continue increasing their stake in order to enjoy the Fund’s long-term benefits.