NTHC Horizon Fund Yield Up



KemevorFrom an annualised return of 10.38 per cent in 2011, the NTHC’s Horizon Fund gained an impressive annual yield of 25.17 per cent for the year 2012, making it one of the best performing mutual funds for the year 2012.

The fund’s performance for the year 2012 beats that of the Ghana Stock Exchange (GSE) composite index which posted an annual return of 23.81 per cent, the GSE Financial Stock Index made a return of 20.48 per cent, and the 1-Year Note closed at of 22.9 per cent at the end of the year

Mr. Gaylord Kemevor, chairman of the board of directors of the fund, announced this at the fund’s eighth annual general meeting (AGM) held in Accra on Monday.

He said the impressive performance of the Horizon Fund largely moved the net value of the fund from GH¢1,002,819 to GH¢1,290,491, signifying a 28.68 per cent increase for the year.

“The fund saw an improvement, with regards to the capital market,  despite the weakening global growth conditions, the fund also benefited tremendously and  the value of the fund increased from GH¢1,010,278 to GH¢1,286,022 by the end of the year,” he said.

Mr. Kemevor said on the money market, interest rates on the 91 and the 182 day treasury bills went up steadily form 10.66 per cent and 11.25 per cent as of the beginning of the year to 23.12 per cent and 22.99 per cent respectively by the end of the year.

He believed that the outlook of the investor fund would be positive as the world continues to recover from the shocks in the advanced economies and as the government prudent economic policies begins to pay off.

He noted that even though the current development in the pension industry is expected to generate new opportunities for the fund manager, the fund’s ability to achieve its set goals would greatly be influenced by the mobilisation of additional investments into the fund.

The board chairman encouraged the shareholders to continue investing into the fund since new investments would enable the Horizon Fund to build and diversify its funds effectively and take advantage of the changing landscape in Ghana’s investment environment.

The Investment Manager of the Horizon Fund, Francis Noyoagbe cited the quality of new investments, the overall portfolio and timing as the main factors which contributed to the success of the fund.

He acknowledged Standard Chartered Bank (SCB) and Fan Milk Limited (FML) as the stocks that contributed immensely to the success of the fund last year stating that “these equities gave a return of 26.43 per cent and 49.79 per cent respectively and given their weight in the portfolio, they pushed up the net asset value of the fund”.

The NTHC’s Horizon Fund has been a balanced fund with the objective of preserving and enhancing share- holders’ wealth to meet medium to long term financial goals while creating liquidity to meet short term needs. By Linda Aryeetey                                              

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