Anidaso Mutual Fund records 38.14% growth in investment income
The Anidaso Mutual Fund Plc recorded a significant 38.14% increase in gross investment income, rising from GH¢533,077.00 in 2022 to GH¢533,837.00 in 2023. This growth was attributed to a marginal rise in interest rates on money market instruments, according to the Fund Manager, Mr. Edward Asamoah.
Speaking at the Fund’s 19th Annual General Meeting (AGM) in Kumasi, Mr. Asamoah also highlighted a rise in the Fund’s net investment income, from GH¢362,071.00 in 2022 to GH¢373,113.00 in 2023. He reported that the Fund’s total liabilities stood at GH¢95,649.00 for the year, while the redemption of shares fell by 34.36%, from GH¢687,816.00 in 2022 to GH¢450,096.00 in 2023.
Additionally, the Fund’s Net Asset Value per share increased from GH¢0.9675 to GH¢1.0285, delivering an annual yield of 6.3%. The overall portfolio was composed of equities valued at GH¢630,061.00, money market instruments worth GH¢2,838,693.00, and other assets in excess of liabilities amounting to GH¢139,872.00.
Mr. Asamoah noted that despite an expected slowdown in economic growth in 2024, driven by the manufacturing sector’s recovery and a forecasted reduction in monetary policy rates, the Fund remains committed to optimizing returns and ensuring long-term financial security for investors. He added that if the government continues to service its debts, both old and new bond markets should gradually recover, boosting the economy.
The Chair of the Fund’s Board of Directors, Most Reverend Professor Daniel Yinkah Sarfo, expressed optimism about the country’s economic outlook, with Gross Domestic Product (GDP) projected to grow by 3.9% in 2024. He noted that the next tranche of International Monetary Fund (IMF) funding would play a key role in stabilizing the economy, fostering macroeconomic stability, and providing a platform for inclusive growth.
Rev. Yinkah Sarfo assured shareholders that positive returns were expected by the end of 2024 and urged them to buy more shares regularly to enjoy the long-term benefits of the fund’s growth.
GNA
