By Ernest Bako WUBONTO
InvestCorp Mid-Tier Fund (IMTF) PLC, one of InvestCorp’s collective investment scheme portfolios, demonstrated a strong recovery in 2023 – rebounding from a -10.69 percent return in 2022 to an 8.12 percent return.
The Fund’s assets under management (AUM) modestly increased from GH₵10.5million in 2022 to GH₵11.03million for 2023.
At an annual general meeting (AGM) held in Accra, the Fund Manager highlighted that despite the severe impact of government’s Domestic Dept Exchange Programme (DDEP), among other exogenous challenging factors, the Fund is beginning to see some significant growth prospects due to innovative strategies and good corporate governance practices.
Speaking at the AGM, Managing Director-InvestCorp Asset Management Limited, Henry Sunkwa-Mills shared that the Fund experienced significant redemptions due to mark-to-market losses resulting from sharp bond price declines and heightened volatility.
Nevertheless, it is strategically positioned to gradually reduce its exposure to the new Government of Ghana (GoG) bonds, allowing greater flexibility with an active investment approach.
“The ever-changing landscape of the financial sector has made us cautious, and we will remain cautious while we invest strategically to generate positive returns on investments,” he said.
InvestCorp has three other licensed mutual fund portfolios in addition to the IMTF. These include InvestCorp Treasury Securities Fund (ITSF) PLC., InvestCorp Active Equity Fund (IAEF) PLC. and InvestCorp Money Market Fund (IMMF) PLC.
Generally, Managing Director-InvestCorp Asset Management Limited, Henry Sunkwa-Mills, is very optimistic about the Fund’s prospects for the fiscal year 2024. He mentioned that considering global and national macroeconomic outlooks and the measures put in place by the fund managers to diversify investments and attract more investments, the Fund will record greater growth rates in the year 2024.
