Fidelity Securities Limited (FSL), the asset management subsidiary of Fidelity Bank Ghana Limited, exceeded its performance benchmarks for the 2020 financial year for its flagship funds, Fidelity Balanced Trust and Fidelity Fixed Income Trust.
This was announced at the maiden virtual annual general meeting of Unit Holders of Fidelity Balanced Trust and Fidelity Fixed Income Trust held in Accra.
The Fidelity Fixed Income Trust and Fidelity Balanced Trust, the flagship collective investment schemes of FSL were introduced to the market in October 2019.
The Fidelity Fixed Income Trust closed the year 2020 with a return of 18.74 per cent against its benchmark of 17.15 per cent.
The return since the inception of Fidelity Fixed Income Trust in October 2019 is 19.29 per cent, outperforming its benchmark of 17.29 per cent for the same period.
Fidelity Fixed Income Trust is a unit trust that has its underlying assets in predominantly high-quality fixed income securities like government bills, notes and bonds.
The Fidelity Balanced Trust on the other hand is a unit trust with its underlying assets in both equities and fixed income.
The Trust returned 11.68 per cent on a net asset value basis in 2020, outperforming its benchmark of 0.27 per cent. Since inception in October 2019, the Fidelity Balanced Trust’s annualised rate of return is 15.70 per cent against its benchmark of -4.79 per cent.
Sam Aidoo, chairman for the annual general meeting of Fidelity Balanced Trust and Fidelity Fixed Income Trust, and a Board Member of FSL said, “The performance of our maiden flagship products, the Fidelity Fixed Income Trust and the Fidelity Balanced Trust attests to our determination to provide value for money on all of our investment products.”
“We are deeply grateful to all our clients for having confidence in us to manage their hard-earned funds. We remain your credible partner in your journey to financial independence.”
Akwasi Adu-Boahene, Head of Fidelity Securities Limited, said “The strong results posted by Fidelity Balanced Trust and Fidelity Fixed Income Trust are attributable to our ardent approach to asset selection and our commitment to skillfully identifying opportunities in the market to build value for Unit Holders.”
FSL’s collective investment schemes are suitable for individual investors, corporate organizations, groups, associations and pension funds. Clients can conveniently top up their investments using the Fidelity Mobile App, cheques and cash deposits at all Fidelity Bank branches nationwide, intra bank transfers and USSD short codes.
‘FSL is committed to safeguarding client funds as the team continues to be prudent in security selection to outperform benchmarks on a risk adjusted basis.
Additionally, as FSL looks towards the future, it will continue to deliver innovative products and services that are tailored to the needs of its clients,” he said.
BY KINGSLEY ASARE
