Anidaso Mutual Fund sees rise in market value

The Anidaso Mutual Fund emerged as the second-best performing fund in the country, posting a Net Asset Value of GH¢1,620,327 that represents a rise of 82% over the prior year’s corresponding figure of GH¢891,809 the fund managers have revealed.

Net Asset Value per share as of December 31, 2013 stood at GH¢0.4481, corresponding with a year-to-date change of 81.86%.

New Generation Investment Services Limited, fund manager of the Anidaso Mutual Fund, was able to mobilise GH¢323,927 as proceeds from issue of new shares in the course of the year, representing a rise of 311.72% from the corresponding figure for 2012.

Clients’ redemptions however took a corresponding amount of GH¢323,106 as clients took to profit-taking in the final quarter of the year, a practice the Fund Manager Mr. Robert Amo Kobiah advised clients to tone down on.

The interest income of the Fund went up 65% to GH¢88,918 for the year under review. Dividend income for 2013 also increased, by 24% to GH¢46,771, attributed to the enhanced earnings by listed companies. Altogether, Total Income shot up 48% to GH¢135,689.

The remarkable performance of the Fund during the 2013 year under review, was noted to be highest since inception of the Fund in 2005, and credited to ‘the bullish run on the equities market, attractive yields from money market investments, and the efficiency of the fund manager.

Most Rev. Professor Daniel Yinkah Sarfo, Metropolitan Arch Bishop of the Anglican Church in Kumasi who serves as the board chairman of the Fund, observed that in the face of challenges to macro stability of the country as a result of global economic performance, the local stock market remains very vibrant.

He said the market recorded a significant gain of 78.81% to the composite index, and this influenced performance of the Fund positively. “Total Investment income for the year increased by 48% to GH¢135,689, while Management and Operational expenses on the other hand edged-up 40% to GH¢52,464. This translated into a 54% increase in net investment income to GH¢83,225,” he revealed.

Mr. Amo Kobiah, commenting on the outlook of the Fund said notwithstanding the drawbacks to stability and growth, economic managers are relentless in their efforts at finding a lasting remedy for the current problems.

“We will keep a keen eye on the direction of macroeconomic indicators, take advantage of mispriced securities, and rebalance our investment portfolios in line with market developments to ensure that we optimise returns to the Fund at all times,” he stated.

The Ghana Stock Exchange (GSE) in 2013 experienced one of its most outstanding performances for listed equities since its establishment in 1990. The GSE Composite Index, which tracks the average performance of the entire market, ended the year up by 78.81%.

The exceptional performance was buoyed largely by increased investor awareness and good operating results of listed companies, supported by renewed investor confidence in the Ghanaian market and economy.