The CM Fund has returned 20.89 percent during 2018 under review with the performance driven particularly by returns from fixed income instruments.
At the end of 2018, the Fund had increased in price to GHc 0.9880 from GHc0.8177 on January 1 last year.
The Fund recorded a total comprehensive income of GHc613, 015 last year as against GHc468, 828 in 2017.
Addressing customers at the Fund’s 8th Annual General Meeting in Accra, the CM Fund’s Portfolio Manager, Mr. Clarkson Duku Acheampong, said the fund’s portfolio was diversified on the back of the Stock Market’s bearish performance from the second quarter of last year, by seeking out other high yielding fixed income investments to drive returns.
The Fund said it expects the bearish performance of the Ghana Stock Exchange to continue as a result of the high yields on government securities which makes them a better alternative for investors seeking firm security and attractive returns for investments in face of the uncertainty and upheaval in the financial services industry.
Mr. Duku Acheampong noted that a key strategy is to make the Fund remain fixed income bias for the rest of the year as a way of preserving value for investors, taking into account the performance of the GSE.
He explained that the Fund Manager in order to increase the Assets Under Management (AUM), is looking to expand its collections vehicles.
To this end, the rollout of the USSD mobile money payment channel and investments into the Fund’s sales team are expected to increase collections and reach of the Fund.
“In line with our demonstrated commitment to providing value for shareholders, we will continue to seek competitive opportunities on the fixed income market. We anticipate CM Fund to deliver another impressive return for 2019 in view of the current positive outlook,” Mr Acheampong said.