The Anidaso Mutual Fund (AMF), recorded impressive increase in its investment income from GHS 390,364 in 2021 to GHS 533,077 in 2022.
This represents 36.65 per cent increase.
The Net Asset Value (NAV) of the fund also stood at GHS 3,168,444 at the end of year 2022, representing 2.38 percent increase of the GHS 3, 084,935 recorded in 2021.
This translated into a NAV per share increase from GHS 0.9609 to GHS1, 0336, representing an Annual Yield of 7.57 per cent.
The fund’s impressive performance in 2022 in 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.
Most. Reverend Dr. Daniel Yinka Sarfo, Chairman of the Board of Directors of the AMF, made these statements at the 2022, Annual General Meeting (AGM) of the AMF in Kumasi.
He said the year 2022 recorded a strong recovery from COVID -19 pandemic and its related economic challenges.
This, he said was evidenced in Ghana Statistical Service (GSS) update on the economy, which revealed an average real GDP growth for 2022 to be 3.3 per cent, compared to 5.4 percent recorded in 2021.
He revealed an updated composite index activity contracted by 6.2 per cent in November 2022 compared to a growth of 10.2 percent in the same period of 2021.
Most Rev. Yinka Sarfo said the latest confidence survey conducted by the Bank of Ghana in December 2022 pointed out some marginal improvements in sentiments.
He said the acceleration in inflation was driven mainly by the lagged effect of the sharp currency depreciation recorded in October 2022.
He said the economic recovery in 2022, heavily impacted on the AMFs investment performance and therefore, shareholders were assured of earning positive returns in investment by the end of the year on a regular basis to enjoy the long-term benefit of the fund.
Mr. Edward Kwaku Asamoah, AMF Manager, said the significant growth in investment income was due to better management of the fund.
He said the economy had shown signs of stability since the country received the first tranche of the USD three billion IMF extended credit facility.
This good trend was anticipated to continue to the close of the year.
He said that the country would benefit from macro-economic objectives for 2023, such as restoring fiscal and debt sustainability and enacting structural reforms.
This would help achieve anticipated 2.8 percent real Gross Domestic Product growth and the desired 18.9 percent inflation rate by the close of the year.
The appeal of government bonds as a sound-fixed investment had decreased because of recent economic changes and the Domestic Debt Exchange Programe.
Mr. Asamoah pointed out that to navigate the uncertain economic times, deliver good returns, and pay investors dividends, interest would be diverted to the Ghana Stock Exchange with investors seeking stocks of companies with strong fundamentals and prizing power.
He said AMF was steadfast in its commitments to giving its investors excellent value as West Africa navigated its economic problems and seize the opportunities presented by its distinctive economic environment.
He called on shareholders to stick to the fund for greater successes.
Source: Ghana News Agency
