Anidaso Mutual Fund PLC located in Kumasi, has posted yet another impressive performance during the 2022 year under review with shareholders being assured of earning positive returns on their investment.
According to the Chairman of the Board of Directors Most Rev. Arch. Prof. Daniel Yinkah Sarfo, the Net Asset Value of the Fund stood at GH₵ 3,158,444 at the end of the year 2022, representing a 2.38 percent increase from GH₵ 3,084,935 in 2021.
This translated into a net asset value per share increase from GH¢ 0.9609 to GH¢ 1.0336, representing an Annual Yield of 7.57%.
The Chairman added that the Fund’s impressive performance in 2022 is expected to continue in 2023 but in moderation as the mixed performance of the equity market may affect the rate of growth of the Fund in 2023.
Prof. Yinkah Sarfo then urged shareholders to buy more shares on a regular basis to enjoy the long-term benefits of the Fund.
Performance
Edward Asamoah, General Manager of New Generation Investment Limited (NGIS), the Fund Manager of Anidaso Mutual Fund PLC, touching on the performance of the bank noted that the Fund’s performance soared in the year under review by recording gross investment income appreciation of GH₵533,077 in 2022 which is 36.56 percent of 2021’s GH₵390,364.
According to Mr. Asamoah, this significant growth in investment income in 2022 was due to better management of the fund. Operating expenses of the Fund increased by 7.66 percent from GH₵158,845 in 2021 to GH₵171,006 in 2022 and this led to 56.39 percent increase in net investment income from GH₵231,519 recorded in 2021 to GH₵362,071 in 2022.
Also, total liabilities for the year stood at GH₵ 39,745 representing 5.91 percent more than the preceding year.
Additionally, Mr. Asamoah noted that redemption of shares increased from the previous year’s GH₵433,757 to GH₵687,816, representing 58.57 percent while sale of shares increased by 24.6 percent from GHȼ 386,096 to GH₵ 481,076.
Net Asset Value per share increased from GH¢ 0.9609 to GH₵1.0336, representing an annual yield of 7.57 percent. The overall portfolio of the Fund includes Equities of GH₵ 669,674.08 representing 21.20 percent, Money Market instruments of GH₵ 2,162,987.00 representing 68.48 percent and other assets in excess of liabilities of GH₵ 325,782.92 representing 10.31 percent.
Future outlook
Mr. Asamoah indicated further that a number of economic issues are likely to continue on a worldwide scale such as: high and unsustainable levels of debt, geopolitical tensions, growing inflation, and worries about financial stability would have some effects on the financial sector. He added that the forecast for the world economy is gloomy because of difficulties such as; GDP which is predicted to slow from a target of 2.8 percent to 1.5 percent in 2023 and headline inflation to reach 7.0 percent. As a result, it is anticipated that economic progress in Africa will reflect that of the rest of the world. It is doubtful that Ghana would be immune to these events.
The economy has shown signs of stability since Ghana received the first tranche of the US$3 billion IMF extended credit facility, and we anticipate this good trend to continue for the remainder of 2023.
In view of this, the country hopes to benefit from macroeconomic objectives for 2023, such as restoring fiscal and debt sustainability and enacting structural reforms, to achieve the anticipated 2.8 percent real GDP growth and the desired 18.9 percent inflation rate by year’s end.
The appeal of Government of Ghana bonds as a sound fixed-income investment has decreased because of recent economic changes and the Domestic Debt Exchange Program. To navigate these uncertain economic times, deliver good returns, and pay investors dividends, Anidaso Mutual Fund PLC, anticipate that interest will be diverted to the Ghana Stock Exchange with investors seeking stocks of companies with strong fundamentals and pricing power. Key macroeconomic indicators are expected to gradually improve as the IMF supports several African nations.
Furthermore, Africa is developing policies to entice investment in these sectors across the continent because of its recognition of the global trend toward technology and fintech. Anidaso Mutual Fund is steadfast in its commitment to giving their investors excellent value as West Africa navigates its economic problems and seizes the opportunities presented by its distinctive economic environment.
The Fund is still well-positioned to go on providing value to customers, and it is hoping that its shareholders will stick by it for successes ahead.
