+233 (0) 302 50 90 45

InvestCorp Mid-Tier Fund Holds 2nd Annual General Meeting

With support from the shareholders, the InvestCorp Mid-Tier Fund successfully held its 2nd Annual General Meeting (AGM) on 24th September 2020. The AGM presented an opportunity for the Fund Manager – InvestCorp Asset Management Limited (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.

The Assets Under Management (AUM) of the Fund at the end of the year stood at GHS 17.23 million, representing a 23.1% increase from the previous year. It closed the year with a yield of 18.29%, 3.59 percentage points higher than the 91-Day Treasury bill yield. Additionally, the compounded annual growth rate (CAGR) since inception was 21.51%.

In his remarks, the Board Chairman, Dr. Aubynn, stated that the Fund had proven to investors, especially those who had to fall on their investments due to emergency liquidity needs, that it is able to support them in difficult periods. He stated that there is 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 Managing Director of InvestCorp, Mr. Henry Sunkwa-Mills, credited the growth in the Fund’s AUM to its competitive returns which drove the 44% increase in its active shareholder base during the year. He stated that the Fund is likely to witness another stellar performance in 2020, judging from the current YTD annualized yield.

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.

We are experienced professionals who understand that It services is changing, and are true partners who care about your future business success.

Our Location
2307 Beverley Rd Brooklyn, New York 11226 United States.
Quick Contact
Email: Mintech@7oroof.com
Support: Mintech@7oroof.com
Opening Hours
From Monday - Friday
8 am to 7 pm

Login

Connect, organize and get things done to keep your IT business safe.

Register!

Connect, organize and get things done to keep your IT business safe.