NTHC records increase in the net value of the fund
The National Trust Holding Company (NTHC) Horizon Fund Limited has recorded an increase in the net value of the fund from GH 1, 002, 819 to GH 1, 290, 491. Ths represents a 28.68 per cent increase for the year 2012.
This was revealed at its eighth annual general meeting which was held last week in Accra.
The NTHC Horizon fund is a balanced mutual fund with the objective of preserving and enhancing shareholder wealth to meet medium to long-term financial goals while creating liquidity to meet short term needs.
Investment manager for NTHC, Mr Francis Nyoagbe, attributed this achievement to the impressive performance of the Horizon fund which rose from 10.38% annualised return to 25.17%, making it one of the best performing mutual funds in Ghana for the year under review.
According to Mr Nyoagbe, the future of the funds looks bright following the rebound of the Ghana Stock Exchange (GSE). He said the new pension scheme had brought about a steady increase in subscriptions and this was expected to increase the asset size, value, returns and flexibility of the fund. He therefore entreated all shareholders to continually increase their investments in the fund as this would allow them to continue rebalancing the fund’s assets in order to take advantage of emerging opportunities.
Chairman for the NTHC Horizon Fund, Mr Gaylord Kemevor, also pointed out that with regards to the capital market, the 2012 financial year saw an improvement compared to the previous year. He said the GSE composite index stood at 1, 100.72 points at the year end, representing a return of 23.81% compared to a negative return of 3.10% in 2011. He added that the fund benefited tremendously from this improved performance to record a gain of 25.17 with the value of the fund increasing from GH 1, 010, 278 to GH 1, 286, 022.
The chairman expressed his optimism about a positive outlook of the fund as world markets continued to recover from the shocks in the advanced economies. According to him, this will cause the financial markets to become vibrant resulting in an increase in value and returns of the fund.