By Kofi Ahovi
The NTHC Horizon Fund, a mutual fund, has recorded impressive gains for the 2008 fiscal year over the previous one.
The price per share of the fund increased by 23.88% from the price at the start of the year of GH¢0.1025 to a year end price of GH¢0.1270. The year 2007 realized a price increase of 0.69%.
New subscriptions to the fund amounted to a total value of GH¢31,290.34 in 2008 compared to a total value of GH¢9,192.07. A total amount of GH¢28,674.85 was redeemed by shareholders in 2008 compared to GH¢50,919.36 in 2007.
The fund’s equity investment as a percentage of total assets increased from 47.89% in 2007 to 60.03% at the end of 2008. Investment in money market instruments and cash balance respectively represented 37.28% and 2.69% of total assets.
The Fund Manager, Francis Nyoabe, at the fund’s Annual General Meeting (AGM) in Accra last week, assured that the fund was well positioned to absorb the difficulties of the equity market and take full advantage of developments in the money market, hence urged all shareholders to invest regularly.
The Board Chairman, Gaylord Kemevor, was optimistic that the fund would grow bigger if there were huge capital injections, significant declines in redemptions and prudent management.
Total investment income grew from GH¢32,786.45 in 2007 to GH¢58,961.04 last year.
The NTHC Horizon Fund, a mutual fund, has recorded impressive gains for the 2008 fiscal year over the previous one.
The price per share of the fund increased by 23.88% from the price at the start of the year of GH¢0.1025 to a year end price of GH¢0.1270. The year 2007 realized a price increase of 0.69%.
New subscriptions to the fund amounted to a total value of GH¢31,290.34 in 2008 compared to a total value of GH¢9,192.07. A total amount of GH¢28,674.85 was redeemed by shareholders in 2008 compared to GH¢50,919.36 in 2007.
The fund’s equity investment as a percentage of total assets increased from 47.89% in 2007 to 60.03% at the end of 2008. Investment in money market instruments and cash balance respectively represented 37.28% and 2.69% of total assets.
The Fund Manager, Francis Nyoabe, at the fund’s Annual General Meeting (AGM) in Accra last week, assured that the fund was well positioned to absorb the difficulties of the equity market and take full advantage of developments in the money market, hence urged all shareholders to invest regularly.
The Board Chairman, Gaylord Kemevor, was optimistic that the fund would grow bigger if there were huge capital injections, significant declines in redemptions and prudent management.
Total investment income grew from GH¢32,786.45 in 2007 to GH¢58,961.04 last year.
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