Business News of 2014-06-02

HFC records 40 per cent growth

HFC Investment Services Limited has posted a growth of 40 per cent in three investment funds managed by the institution.

The investment funds are: HFC Future Plan Trust, Unit Trust and Equity Trust Fund.

As of December 2012, the value of the Unit Trust Fund, which stood at GH¢35.53 million, increased to GH¢44.90 million. The HFC Future Plan also shot up from GH¢1.87 million to GH¢3.28 million the same year.

The Chief Executive Officer of HFC Investment Service Limited, Mr Peter Larbi-Yeboah, who made this known at the company’s Ninth Annual General Meeting in Accra, said the Equity Trust Fund also experienced a tremendous growth from GH¢2.40 million to GH¢5.50 million.

Presenting the Fund Manager’s report, Mr Larbi-Yeboah said income generated from the HFC Future Plan Trust increased from GH¢291,316 to GH¢582,553 last year, with the total number of investors in the HFC Future Plan increasing by 133 to 1,169 in 2013.

On the performance of the HFC Unit Trust, Mr Larbi-Yeboah said income accruing from the fund increased from GH¢5.63 million to GH¢9.57 million, with the total number of investors reaching 21,281, as 1,175 new members came on board in 2013.

The Equity Trust Fund posted an excellent return of 70.43 per cent.

“The performance is a good one, and for the third year running, the activities of the fund have earned it the Equity Fund of the Year - from the Ghana Investment Awards,” Mr Larbi-Yeboah said. Outlook for 2014

On the outlook for 2014, the CEO said the economy was uncertain but “the company will take advantage of its performance in both the capital and money markets for the benefit of its investors.”

In order to improve upon the performance of the fund this year, he said, strategies would be adopted to improve performance and that would include purchasing stocks based on their quarterly performances and future prospects; increasing inflows and purchasing equities of more blue-chip companies.

Source: graphic.com
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