SAS Fortune Fund outperforms its benchmark on GSE

SAS Fortune Fund outperforms its benchmark on GSE
Source: Ghana/Myjoyonline.com
Date: 05-08-2016 Time: 10:08:49:pm

Strategic African Securities (SAS) Fortune Fund outperformed its benchmark on the Ghana Stock Exchange (GSE) in spite of the economic challenges.

The fund made a year-to-date return of -0.17 percent as against the return on the GSE Composite Index.

Fund Manager, Anthony Degbato who revealed this while briefing stakeholders at the 11th Annual General Meeting (AGM) held in Accra said, the fund still remained an attractive investment vehicle for our shareholders and potential shareholders.

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He indicated that, the fund’s performance as compared to benchmark indices was as a result of the prudent measures put in place to ensure the fund is well diversified to reduce the impact of the bearish market experienced in 2015.

This notwithstanding, Mr. Degbato said they will continue to monitor the overall economic indicators and take advantage of investment opportunities with blue chip companies who have stable business models.

“We will also continue with the active re-balancing of the fund when necessary to generate value for shareholders”

On his prospects, Mr. Degbato was optimistic of a resilient economy and a recovery in the stock market.

“The economic outlook in Ghana is brightening with GDP growth gaining momentum. It is my hope that we see a fiscal discipline from government though in an election year to correct the economic imbalance we currently experience” he added.

The SAS Fortune Fund is an open-ended mutual fund that seeks medium to long-term capital appreciation by investing in a diversified portfolio of listed and unlisted equity and debt securities. It is a fund that invests in a diversified portfolio of securities.

Board Chairman of the Fund, Maxwell Logan urged shareholders to increase their holdings saying, “the Fund will not only give you a competitive return but also remain one of the best equity mutual funds in Ghana”.

 

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