Sirius Opportunity Fund held its third Annual General Meeting at the GNAT Hall, Accra on Friday 19th August 2016. The fund, which had been in existence since May 2013 posted impressive results in 2015.
Mr. Michael Mba Allan a Director of the fund, presenting the Directors report mentioned that although the year 2015 was characterized by challenges in the general economy, the fund continued to perform incredibly well, closing off the year with an impressive improvement over previous year’s shortfall. At the end of the year, the total assets of the fund stood at One Million Three Hundred and Sixty Eight Thousand,Two Hundred and Forty-Nine Ghana Cedis (GHC 1,368,249.00), a figure representing an over 50% rise from that of 2014. Total number of clients on the fund as at the end of 2015 was 1,205 indicating about a 19% increase and also having the institutional form majority of about 60% in value.
He went on to indicate that the Net Asset Value (NAV) of the fund started 2015 at 0.6958 and during the year, it enjoyed an average month-on-month growth rate of 2.06%, with the month of February recording the least growth rate of 1.65%, whiles December saw the highest growth rate of 2.86%. The share price maintained a steady growth throughout the period under review until it closed off the year with a price per share of 0.8881. This represents an annualized yield of close to 27.64%. For 2016, Mr. Allan said the fund will look at minimizing risk and investing in high-yielding medium-to-long therm securities that will offer the best risk-adjusted returns for its clients.
The Fund Managers report, read by the Chief Executive Officer of Sirius Capital Limited, Mr. Franklin Benefo echoed the impressive performance of the fund and encouraged shareholders to invest more to secure their financial future. He also talked about some of the strategies that will be adopted by the Fund Manager for 2016 which included the continual packaging of Sirius Opportunity Fund to make it gain more strides with institutional clients, an expansion of further payment outlets available for the individual shareholder, improving in-hose efficiency in client serving and to engage in corporate social responsibility.
As at the end of 2015, there were 27 Mutual Funds and 18 Unit Trusts licensed by the Securities and Exchange Commission of Ghana (SEC). Mutual Funds and Unit Trusts are often a well sought investment tool usually because of its diversity and flexible nature. Especially with money market funds and trusts, most investors consider it as a basic investment tool.