InvestCorp Mid-Tier Fund posts 18.29% yield for 2019

An investment fund, InvestCorp Mid-Tier Fund, closed the 2019 year with a yield of 18.29 per cent.

This is 3.59 percentage points higher than the 91-Day Treasury Bill yield.

The fund’s Assets Under Management (AUM) also grew to GH¢17.23 million within the same period, representing a growth of 23.1 per cent.

This was disclosed by the Managing Director of InvestCorp Asset Management Ltd (InvestCorp) - the fund manager, Mr Henry Sunkwa-Mills, at its Annual General Meeting (AGM) in Accra last Monday.

He attributed the growth in the fund’s AUM to its competitive returns which drove the 44 per cent increase in its active shareholder base during the year.

Mr. Sunkwa-Mills noted that the fund was likely to witness another stellar performance in 2020 judging from the current year-to-date annualised yield.

Supporting Investors

The Board Chairman of the fund, Dr. Tony Aubynn, said the fund had proven to investors, especially those who had to fall on their investments due to emergency liquidity needs, that it was able to support them in difficult periods.

He said there was some appreciable level of uncertainty in the economy, however, the right strategies had been adopted to ensure the continued growth of the fund in line with its objectives.

The AGM presented an opportunity for the fund manager, InvestCorp, to present the fund’s 2019 financial report, as well as inform shareholders about developments in the market and economy.

In adherence to the COVID-19 social distancing protocols and also in line with the recent directive issued by the Registrar-General’s Department (RGD), the meeting was virtual, the first for the fund and its manager.

About InvestCorp Mid-Tier Fund

InvestCorp Mid-Tier Fund is an open-ended mutual fund which seeks to achieve competitive returns by investing in a diversified portfolio of fixed income instruments (debt and preferred equity) issued by financial services institutions, statutory agencies, the Government of Ghana (GoG) and corporations.

It aims to achieve highly attractive risk-adjusted returns for its investors over the medium to long term.