The Fund Manager of the HFC Future Plan Trust and Equity Trust said strategic plans are in place to enable the Trust to take advantage of any volatility in both capital and money markets, to the advantage of Unit Holders.
Mr Peter Larbie-Yeboa, General Manager of the HFC Investment Services, a subsidiary of the HFC Bank (Ghana) Limited, and Managers of both Funds, said this is to ensure that the fix income is managed to achieve satisfactory liquidity spectrum to serve the dual purpose of providing liquidity, while locking in high yields as the rates dip.
He said with this vision, management would continue to market the unique characteristics of the funds, and to improve asset diversification and earnings.
Mr Larbie-Yeboa, who made this known in his report at separate sessions of the 2013 Annual General Meetings of both funds, said the economic direction going into 2014 was an uncertain one, due to weak economic indicators and their wide-reaching effects, on both the capital and money markets.
He said, however, that both Funds recorded good yields and competed favourably against other money market commodities by the close of 2013.
According to him, in spite of the numerous global and domestic market challenges for the period 2013, the Future Plan Trust recorded a total income of 582,553 Ghana Cedis in 2013 as against 291,316 Ghana Cedis recorded in 2012, which represents a 100 per cent increase.
The Fund further appreciated by 31.37 per cent in yield, as against 18.19 per cent achieved in 2012, growing it by 75.46 per cent, over what was recorded in 2012. Mr Larbie-Yeboa said the number of Unit holders also increased by 133 over the period to close at 1,169, while the Fund Value also saw a marginal increase from GH�1.87 million in 2012, ending the year, with GHC 3.28 million as assets under management.
The Fund�s Total Assets grew from GH�1, 883,991 in 2012 to GH�3, 334,949 in 2013, representing 73 per cent and a recorded Net Asset of 3,274,587 as against 1,841,350 in 2012, representing a 17 per cent increase.
The Equity Trust, on the other hand, recorded a return of 70.43 per cent increase in the same year under review, with its Fund Value also appreciating from GH�2.40 million in 2012, to GH�5.50 million in 2013, which was an excellent performance, rising out of the careful selection of assets for the fund.
The Fund grew its total investment assets from GH�2,363,449 recorded in 2012, to GH�5, 449,955 in 2013, bringing its Total Assets to GH�5,565,153, which is a 130 per cent increase over the recorded GH� 2,389,767 in 2012.
Net Assets was GH�5, 504,602 in 2013, compared to that of 2012 which was GH�2, 355,599 and ending the year with a total income on investments at GH� 1,282,776, which was an improvement over the GH�443,342 recorded in 2012.
Mr Larbie-Yeboa said: �we however believe opportunities will arise as the year progresses, and our well regarded experience will come to bear once again, to ensure that the long-term objective of creating value for you our cherished Unit holders continues to be realized.�
He said going forward, the Fund Manager would continue to seek opportunities in under-priced stocks, trade on fundamentals and engage in profit taking when deemed appropriate to do so.
The Fund Manager�s reports, the Audited Statements of Incomes and Expenditures of both Funds, were approved and adopted by the Unit holders, who also voted in favour of recommendations to authorize the Manager to fix the remuneration of the Auditors for 2014.
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