CAL Asset Managers assures of sound investment decisions
FUND managers of CAL Asset Management have assured its unit holders that they will continue to make sound investment decisions to protect their investments.
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The managers, therefore, expressed optimism about the future of the fund which they said had provided unit holders with very strong returns.
Speaking to the Daily Graphic on the sidelines of the maiden Annual General Meeting for the two collective investment schemes namely CAL Benefit Unit Trust and CAL Advantage Unit
Trust in Accra, the Chief Investment Officer, Ernest Attiso, said by diversifying the portfolios to be able to take hedging positions currency-wise, and also take positions that would insulate them from the economic vulnerabilities locally, they would be able to produce investment outcomes that would then defeat inflation and even the local currency.
The AGM, which was held both virtually and in-person, was in compliance with the regulations from the Securities and Exchange Commission (SEC).
It was to indicate to unit holders the performance of the two schemes since its inception two years ago, the strategies being adopted going forward and to seek the approval of unit holders on the amendment of the schemes’ particulars as well as change of names of the schemes.
CAL Benefit Unit Trust is an open-ended fixed income collection investment scheme that was duly licensed by the SEC and accepts contributions as little as GH¢ 100 in regular contributions while CAL Advantage Unit Trust on the other hand is an open-ended unit trust that invests primarily in fixed income and equity securities with the primary objective being to generate medium to long-term value through systematic growth of investors’ funds.
Mr Attiso, who doubles as a Representative of the Fund Managers, observed that global economic activity slowed down last year whereas Gross Domestic Product (GDP) output for Ghana stood below three per cent.
“Inflation and depreciation of the local currency remained a menace to investors’ real income. The trust net asset value grew by a robust 250 per cent year on year to 16.87million supported by strong investment earnings and net inflows,” he stated, adding that the trust ended the year with 62 per cent of its assets in government of Ghana treasury bills, 28 per cent in repurchase agreements and fixed deposits and commercial banks.
Mr Attiso said that portfolio structure affirmed the trusts’ standing as the most liquid collective investment scheme in the country.
By way of performance, he said, the CAL Benefit Unit Trust posted a full year return of 22.64 per cent whereas the benchmark of 364-day treasury bill recorded a return of 31.04 per cent.
Report
Touching on the report in the year under the review, Mr Attiso explained that the CAL Benefit Unit Trust continued to offer a safe investment option for individuals and institutions to grow their wealth under not so easy global and local economic as well as market conditions.
He said inflation in Ghana was expected to moderate further to just below 20 per cent whereas cuts to the policy rate is expected to cross the end of the year.
CAL Advantage Trust
On the CAL Advantage Unit Trust, another Representative of the Fund Managers, Joshua Dery, said it would continue to offer a safe and diversified investment option for individuals and institutions to build their wealth under the very challenging global and local economic and market conditions.