Kumasi-Ghana, Sept 27. GNA – The New Generation Investment Services (NGIS) Money Market Fund Plc recorded gross investment income of GHS 1,030,106 in 2022, as against the GHS 681,648 recorded in 2021.
The increase, which represented 51.12 per cent of the 2021 record, was due to a marginal increase in interest rates on money market instruments in the year 2022.
Operating expenses also increased by 3.25 per cent from GHS49,945 in 2021 to GHS51,577 in 2022.
The resulted in 44.48 per cent increase in net investment income from GHS 508,652 recorded in 2021 to 734,880 in 2022.
Mr. Edward Kwaku Asamoah, Manager of the NGIS Money Market Fund Plc, made these known at the fourth annual General Meeting of the fund in Kumasi.
He said redemption of shares increased from the previous year which was GH₵1,586,635, to GH₵2,305,306, representing 45.39 percent, while sale of shares increased by 56.88 percent from GH₵1,845,864 to GH₵2,895,781 in the year under review.
The net asset value per share also increased from 1, 4984 to 1, 6662, representing an annual yield of 11.20 percent.
Mr. Asamoah said that it was anticipated that actions such as tighter monetary policy, stable currency rates and signing of the IMF agreement would aid in re-establishing macroeconomic stability.
He pledged his commitment to make strategic investments in variety of high quality and highly liquid asset.
This, he said would help create a well-balanced portfolio that provided investors with stability, security, and liquidity.
“We will alter in the portfolio as needed on these assessments to maximise returns while controlling risks,” he noted
Mr Asamoah said management would make wise investment decisions that were consistent with the overall investment strategy by keeping an eye on market conditions.
Additionally, the NGIS Money Market Fund would keep protecting the money market fund, he stressed.
Professor Kwaku Kessey, the Board Chair of the NGIS Money Market Fund, assured investors, and stakeholders of the fund, that the Board of Directors would safeguard the assets of the fund and take reasonable steps to detect, prevent fraud and other irregularities.
He said the Board would also ensure that proper accounting records with reasonable accuracy was achieved.
