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This post is tagged with: Fund • GSE • NTHC

The National Trust Holding Company (NTHC) Horizon Fund is expected to take advantage of the impressive performance of the Ghana Stock Exchange (GSE) last year to make positive gains this year.

According to the annual report for 2006 released yesterday, the fund which has shares in Stanchart, Ghana Commercial Bank, Unilever and Aluworks, intends identifying ways of reaching out to potential investors across the country.

The report stated that strategies have been put in place to re-align its asset allocation mix to achieve higher return than the benchmark, the GSE All Share index.

Also, a direct debit scheme has been introduced to enable shareholders to increase their holdings by putting in more funds on regular basis.

It therefore urged all shareholders including the State Insurance Company (SIC) and the Social Security and National Insurance Trust (SSNIT) to keep faith with the fund and thus increase their investments for longer periods.

The projection is being done on the back of the current economic environment where inflation and the currency have remained quite stable as well as a decline in interest rates.

According to the 2006 results, the Horizon Fund managed to make a modest nominal return of one percent in 2006 compared to a nominal return of 4 percent in 2005.

However its equity investments increased from 79.78 percent in 2005 to 93.19 percent.

On the other hand, money market investments decreased from 17.9 percent in 2005 to 7.2 percent in 2006.

The fund’s best performing equities were Standard Chartered Bank, Fan Milk and Aluworks.

Total subscriptions to the fund declined significantly whilst redemptions increased.

A total of 248 new shareholders bought shares valued at GH¢26,740 in 2006 compared to 399 new shareholders who purchased shares valued at GH¢75,440 in 2005.

A total of GH¢310,000 was redeemed by 303 shareholders in 2006 compared to GH¢350,000 by 416 shareholders in 2005.

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