The Anidaso Mutual Fund in Kumasi, under the management of New Generation Investment Services Limited, has declared a steady annual turnover of GH?91,512 representing a 35% growth in investment income in the 2012 year under review.
This achievement by the Fund, whose ?prime objective is to seek capital growth and re-invest such income to take advantage of compounding?, has been lauded and attributed to the ?sound economic, and advantageous investments? made by the fund managers on behalf of the shareholders.
Rt. Rev. Dr. Daniel Yinkah Sarfo, Chairman of the Board of Directors, in an address read on his behalf said the enviable progress made by the fund despite the numerous economic challenges faced during the 2012 fiscal year makes the Fund one of the best-performing collective investment schemes in the sub-region.
The Fund is said to have experienced an enhanced performance in the past financial year on the back of modest outturn from equities and relatively high yields from money market instruments, according to a report from the fund manager.
The dividend income for the past year was up by 37% to GH?37,768 from GH?27,521 in 2011. Interest income also rose 34% to GH?53,744 during the year under review.
The Net Value Assets of the Fund grew to GH?891,809 as at the end of 2012, indicating a 21% increase over the prior year?s corresponding figure of GH?734,144 while Net Asset Value (NAV) per share as the end of December 2012 stood at GH?0.2465 to correspond with the year-to-date change of 23.12%.
About GH?78,676 was mobilised by the fund manager as proceeds from issue of new shares in the course of the past financial year, representing a dip of 31% from the corresponding figure for 2011. It was however indicated that the dip was propelled by the unimpressive performance of the fund for the preceding year, as a result of general price-declines in equities that year.
This notwithstanding, it is expected that the general economic environment will continue to remain favorable in this year 2013, with interest rates on money market instructs projected to also remain above 15% all year round.
Considering the large pool of investible funds expected on the market from pensions, the equities market is also anticipated to be bullish this year and even exceed prior year?s performance. In addition to this, the enhanced public sector pay structure is expected to boost investment budgets for retail investors and contribute to the excitement on the local bourse.
By Kizito CUDJOE, Kumasi