McOttley Unit Trust holds 2nd annual general meeting – Highlights

Business News of Friday, 4 August 2017

Source: www.ghanaweb.com

2017-08-04

play videoAmbassador Kabral Blay-Amihere, Board Chairman of McTrust

McOttley Unit Trust on Friday August 4, 2017, held its 2nd Annual General Meeting at the British Council in Accra to consider the Board Chairman’s Report and that of the auditors for the year 2016.

The financial statement for the previous year was also received and adopted at the meeting. Addressing unit holders at the meeting, a representative of the Fund Manager, Mr. Hilary Lomotey announced that, as at the end of 2016, the Fund’s assets grew by 450.82 per cents from GHC0.223 million to GHC1.114 million.

This growth, according to Mr. Lomotey resulted from high patronage and “good investment returns earned on the fund’s underlying assets”.

He disclosed that the number of unit holders also grew from 451 to 659 representing a growth of 38.14 per cents against what was recorded in 2015.

With this growth record by the Fund in such a difficult year as 2016, where macroeconomic indicators such as GDP growth was at relatively low target, Mr. Lomotey said he is convinced that the company will perform better and record higher performance by end of this year, 2017.

“We are confident that we have the tools, expertise, the strategies and the experience to ensure that that your objective of attaining financial independence is not compromised. We are confident that McTrust will continue to deliver excellent returns to unit holders given our past record,” he remarked.

For his part, Board Chairman of the Fund, Ambassador Kabral Blay-Amihere also touted the achievement of the company in the previous year.

He said, despite the challenges that confronted financial institutions in 2016 due to Ghana’s mixed economic performance as reported by the World Bank, McOttley Capital was able to record impressive growth.

“With Treasury bill rates declining during the second half of the year to 16.42% with a GSE Composite index of -15.32%, the fund returna YTD of 18.60%, placing us among the top ten ranking of balanced funds being managed in the industry,” Amb. Kabral Blay-Amihere revealed.

He commended the managers of the Fund for chalking great success in the financial market space as they recorded 409.76 per cent growth from GHC0.22m in 2015 to GHC1.11m in 2016.

About McTrust

McTrust is an open ended balanced fund that pools funds from investors and invests in a wide range of financial instruments (equities, fixed income securities). It is sold in units at a price to investors. The funds are pooled together and invested in appropriate securities.

The Trust’s investment objective is to generate long term capital growth and make other short-term investments to either maintain liquidity or for short-term defensive purposes when we believe it is in the best interest of unit holders to do so. In order to achieve this objective, it is essential that the Trust has an equity bias when the stock market is performing well and a fixed income bias when the stock market is on the downturn. Unit prices are determined at Net Asset Value per unit.

During the Initial Public Offer (IPO), the Unit Trust is initially offering 1,000,000 units at GHS 0.10 per unit. The minimum initial purchase is 200 units equivalent to GHS 20.00 and any other additional investment of GHS 10.00.

Benefits of McTrust include:

1. Risk minimization as a result of diversification 2. Liquidity 3. Professional Management 4. High returns

قالب وردپرس

Comments