The annual return on the SEM Money Plus Fund for the year 2016 was 27.66%, Louisa Soma Ampiah, Fund Manager, SEM Money Plus Fund, has disclosed.
According to Ms Ampiah, notwithstanding the slow growth of Ghana’s economy and interest rates, the SEM Money Plus Fund had a total asset value of GHC1, 601, 475, as at December 31, 2016, up from GHC 430, 616 at the end of 2015, reflecting a growth rate of 372%.
She said, Net deposits into the Fund during the year 2016 was GHC918, 928 while the Net Asset Value at the end of 2016 was GHC1, 570, 514, up from GHC 404, 375 at the end of 2015.
The assets, she said, were made up of 95.62% in Fixed Income securities and 4.38% in cash, adding that the SEM Money Plus Fund recorded a Net Income of GHC 261, 354, made up of GHC292, 927 in Investment Income and GHC34, 573 in expenses.
She was addressing shareholders at the 2017 Annual General Meeting (AGM) of SEM Mutual Funds in Accra on Friday.
SEM Mutual Funds, comprising SEM Money Plus Fund, SEM Income Fund and SEM All-Africa Equity Fund, is managed by SEM Capital Management Limited.
SEM Money Plus Fund is an open-ended collective investment scheme with the goal of earning high rate of interest income, preserving one’s capital and maintaining liquidity by investing primarily in money market instruments, generally maturing in not more than 365 days.
Addressing shareholders on the performance of the SEM Income Fund, Ms Augstina Gyima, Fund Manager, disclosed that the 2016 annual return on the SEM Income Fund was 21.32%.
Ms Gyima said as at December 31, 2016, the Fund recorded a Net Investment Income of GHC72, 580, made up of GHC 91,937 in Investment Income and GHC19, 393 in expenses.
She said the SEM Income Fund had a total asset value ofGHC496, 218, up from GHC296, 745 at the end of 2015, adding that Net Deposits into the fund during the year 2016 was GHC 125, 891 while the Net Asset Value at the end of 2016 was GHC 468, 174.
She said the assets were made up of 96.30% in Fixed Income securities, 2.31% in Quoted Equities and 1. 39% in cash.
The SEM Income Fund is an open-ended collective investment scheme with the goal of protecting investors’ capital through focused investments in debt and money market instruments bas well as high dividends paying equities while at the same time providing a steady stream of income to investors.
Ordinarily, about 80% to 100% of investors’ deposits are invested in fixed income securities and up to 20% is invested in equities.
Presenting her report on the SEM All-Africa Equity Fund, Ms Grace Quaye, Fund Manager, disclosed that Fund recorded a net loss of GHC8,060, made up of GHC 26, 962 in Investment Income, GHC 21, 546 in Expenses and a Net Realized Capital Loss of GHC 13, 486 while the annual return on the Fund in 2016 was -12.56%.
Me Quaye said as at December 31, 2016, SEM All-Africa Equity Fund had a total asset of GHC376, 334, up from GHC326, 389 at the end of 2015.
She said, the Net Deposits into the Fund during the year 2016 was GHC80, 318 while the Net Asset Value at the end of 2016 was GHC 335, 622.
The Fund, she said, was made up of 47.50% in Quoted Equities (Local), 20.34% in Quoted Equities (Foreign), 28.42% in Fixed Income Securities and 3.74% in Cash and Cash equivalents.
SEM All-Africa Equity Fund is an open-ended collective investment scheme with the goal of providing investors with steady long-term capital appreciation and dividend distribution through investments in a regionally-diversified portfolio of listed equities and equity-related instruments.
SEM All-Africa Equity Fund, which is currently invested in Ghana and Kenya, targets across capital markets in Africa in order to achieve optimal diversification with minimal volatility.
Source: ISD (G.D. Zaney)