Business News of Saturday, 5 August 2017
McOttley Capital, an award-winning investment firm headquartered in Accra on Friday, August 4 at the British Council held their 2nd Annual General Meeting for the McOttley Unit Trust (McTrust).
The investment firm indicated that the McTrust which is a balanced fund put up a very good performance in 2016 in spite of the decline in interest rates of treasury bills and the negative return on the GSE Composite Index.
A representative of the Fund Manager, Hilary Lomotey speaking on the performance of McTrust stated that the Fund’s assets grew by 450.82% from GHC0.223m to GHC1.114m at the end of the 2016 financial year stemming from continued patronage of the trust and the good investment returns earned on the fund’s underlying assets. The number of unit holders grew from 451 to 659 in 2016 representing a growth of 38.14% over that of 2015.
Furthermore, Ambassador Kabral Blay-Amihere who is Board Chairman of McOttley stated in his address to the McTrust holders that the Fund returned a YTD of 18.60% placing the McTrust among the top ten (10) ranking of balanced funds being managed in the industry.
“In spite of the economic and environmental challenges, we believe and remain positive about the future prospect of the economy and market in which the Fund operates. With the stock market posting positive returns we remain optimistic that McTrust should return higher returns than it did in 2016,” he concluded.
McTrust ended the year 2016 at a price of GH¢0.1454.
About McOttley Capital Limited
McOttley Capital Limited is an award-winning multi-dimensional investment-banking firm providing top-notch products and services in the areas of Investment Banking, Asset Management, Private Pension Fund Management, Private Equity, Corporate Finance and Collective Investment Schemes, and Research and Due Diligence, to individuals, corporate institutions, government and institutional clients.
They have offices located at Dzorwulu, Spintex, Obuasi, Kumasi, Takoradi, Tarkwa, and Tamale.