Despite the economic downturn, the Strategic African Securities (SAS) Fortune Fund recorded an appreciable performance in 2014.
The fund recorded a 20 percent increase in net asset value, growing from GH¢2,604,739 to GH¢3,126,788 at the end of 2014.
Fund Manager, Anthony Degbato who revealed this while briefing stakeholders at the 10th Annual General Meeting (AGM) held in Accra said the fund still remained an attractive investment vehicle for our shareholders and potential shareholders.
He noted that the Fortune Fund posted a return of 14.40% at the end of the year 2014 as against the return on Ghana Stock Exchange Composite Index of 5.4%.
Mr. Degbato said they will also continue to monitor the overall economic indicators and to take advantage of investment opportunities of companies with good valuation and stable business models and re-balance the portfolio of the fund if the need be with a view to maximize returns for our shareholders.
“We will continue to ensure the growth in the asset base of the fund and also invest the assets of the fund in high-value stocks as well as those that return regular dividends to the Fund” he stated.
He was, however, confident with the IMF program will boost economic growth and helps cut poverty by restoring macroeconomic stability through tighter fiscal discipline, strengthening public finances, and slowing inflation.
“Lower inflation and interest rates, combined with a more stable exchange rate would help support private sector activity and ultimately culminate into economic growth”.
Mr. Debgato said as inflation and interest rates drop, there will be a rippling effect that will be seen in the activity of the stock market. In other words, investors will be attracted to the stock market thereby creating some excitement in the market.
“As we look into 2015, we expect the market to thrive. However, we will continue to select stocks with good fundamentals, healthy profitability and good dividend payout for 2015 which we believe will translate into suitable returns for our shareholders”.
Story by Ghana/Myjoyonline.com
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