CM Fund of the SDC Group returned 20.35 percent in profit during the 2019 financial year compared with its Benchmark, which is the Weighted Average Return of GSE-CI and 91-Day T-Bill, which returned 12.02 percent.
Speaking at the Annual General Meeting of the Fund, the Portfolio Manager, Clarkson Duku Acheampong indicated that the performance was driven principally by returns from fixed income instruments.
“The Portfolio Manager proactively continued to diversify the Fund’s portfolio on the back of the stock market’s bearish performance by seeking out other high yielding fixed income investments to drive returns.” He said.
Outlook & Strategy
The bearish performance of the Ghana Stock Exchange has further deepened following the cleanup of the Financial Services Industry by Bank of Ghana and the Securities and Exchange Commission
In view of this, Mr. Acheampong maintained that investors will continue to take advantage of the high yields on government securities which provided firm security and attractive returns for their investments within the period.
“As such, the Portfolio Manager continued with the strategy to stay 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 emphasized.
“We continue to assure investors of our commitment to providing value for shareholders by looking out for competitive opportunities on the Fixed Income Market,” Mr. Acheampong said.