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    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

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    Gold exports push Ghana’s trade surplus to $1.3 billion in April

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    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

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    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Old Mutual celebrates 177th anniversary globally, 10 years in Ghana

    Gov’t expenditure needs to be checked to help deal with inflation – ICAG

    Take control of financing on the continent – Ofori-Atta to AfDB

    We’ll avert any looming food crisis with effective planning – AfDB Boss

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    Ghana Life Insurance Ltd accused of employing delay tactics in payment of claims

    BoG urged African DFIs to enhance credit rating positions to boost investment

    Stringent measures needed to deal with illicit financial transactions in Africa – Akufo-Addo

    Gold exports push Ghana’s trade surplus to $1.3 billion in April

    Value of MoMo transactions decrease by 3% between March and April 2022

    Inflation rate likely to drop to single digits in 2023 – Dr. Ernest Addison

    Monetary Policy Rate increased again by 200 basis points; now at 19%

    Government partners private companies to mine abandoned iron ore in Oti Region

    Manufacture of petroleum products push PPI to 31.2% in April

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    Government to invest heavily in internet safety – Ursula pledges

    Ho Node Hub rebrands as Node Eight

    Elon Musk strikes deal to buy Twitter for $44bn

    Block chain’s success will depend on supportive policy environment – Prof. Quaynor

    1.5% E-Levy rate will negatively impact GH¢6.9 billion target – Prof. Quartey

    Transactions to be affected by E-levy

    Bethniel Finance emerges winner in Innovation Challenge Program

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    We’ll avert any looming food crisis with effective planning – AfDB Boss

    Standard of cars assembled in Ghana will not be compromised – GSA assures

    GUTA urges gov’t to get other countries to open their borders to facilitate trade

    Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo

    Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank

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CDH Balanced Fund yields 18 percent interest in 2015

bycitibusinessnews
July 1, 2016
in Banking And Finance, Top Stories
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Managers of the CDH Balanced Fund have announced a 17.57 percent in interests on the investment fund within the first seven months of trading.

The fund which commenced trading in June last year after a successful IPO which was oversubscribed by 60 percent, also increased its initial funds under management from 800 thousand cedis to one million cedis by the end of 2015.

This represented 24 percent growth in funds for the year under review.

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Speaking at the first AGM of the fund, the Executive Director of CDH Asset Management, Seth Aryitey stated that the performance was largely as a result of interest income from Fixed Income Investments despite the challenges that saddled the economy for a greater part of 2015.

Mr. Aryitey also explained that the investment decision provided the flexibility to respond to the prevailing situation in Ghana’s economy.

“This steady growth in investors’ funds is in line with the overall investment objective and policy of the CDH Balanced Fund which is to provide medium to long term growth in income by investing in a combination of fixed income instruments and equities listed on the Ghana Stock Exchange,

“This mandate ensures that the CDH Balanced Fund provides low to medium risk and gives the Fund Manager the flexibility to respond to the prevailing situation in Ghana’s economy,” he stated.

Outlook for investments for 2016

Meanwhile, the fund managers have assured of investing in stocks with sound fundamentals which can deliver good returns in the medium to long term.

According to Mr. Aryitey, the economy of Ghana is expected to improve from the second half of 2016 which shall have an impact on the performance of shares listed on the Ghana Stock Exchange as investors seek to pick up value stocks at bargain prices.

“The strategy of the fund Manager shall remain steady investments in high yielding instruments and a progress towards a more balanced fund. We shall ensure that the riskier assets that we purchase have sound fundamentals and can deliver good returns in the medium to long term,” he further intimated.

Stock Market performance declines in 2015

The year 2015 witnessed a bearish market on the Ghanaian bourse as the lead tracker, the Ghana Stock Exchange Composite Index (GSE-CI), posted a 12 percent decline from 2,261.02 points to close the year at 1,994.91.

This compares unfavourably with the 2014 performance of the GSE which was a 5.40 percent rise in the composite Index.

The fortunes of financial stocks also declined as the GSE Financial Stocks index reported a loss of 14 percent from 2,243.63 to 1,930.06.

Market Capitalisation was also lower by GH¢7.23 billion from GH¢64.35 billion in 2014 to GH¢57.12 billion.

–

By: Pius Amihere Eduku/citibusinessnews.com/Ghana

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