NTHC to review fund portfolio

Story: Boahene Asamoah

THE Managing Director of NTHC, an investment firm, Dr Albert N Q Barnor, has said that management would review the portfolio mix of its Horizon Fund to ensure higher returns on investments.
He said presently the fund’s investments in equities on the stock market was skewed towards the agro-processing companies which had not been too impressive.
In an interview shortly after the first annual general meeting of the Horizon Fund, Dr Barnor stated that there was need to review the firm’s investment portfolio to ensure higher returns for investors.
He assured investors in the NTHC Horizon Fund that the prospects of the fund looked much better this year, admitting that there had been some internal problems within the organisation, which had affected the fund’s performance.
Presenting the financial report for the year ended 2006, the Board Chairman of the fund, Mr Gaylord Kemevor, said the outlook of the fund looked good as the current macroeconomic conditions were expected to continue.
“The board is very optimistic about the performance of the fund in the coming year to enhance shareholders’ value. Strategies have been put in place to re-align our asset allocation mix to achieve a higher return than the benchmark Ghana Stock Exchange All Share Index,” the board chairman stated.
He said despite all the challenges the company faced during the year under review, the fund managed to make a modest nominal return of one per cent in 2006 as compared to a nominal return of four per cent in 2005.
Mr Kemevor said total subscriptions to the fund declined significantly whilst redemptions increased.
A total of 248 new shareholders bought shares valued at GH¢26,740 in 2006 as compared to 399 new shareholders who purchased shares valued at GH¢75,440, he stated.
During the period under review, a total of GH¢310,000 was redeemed by 303 shareholders in 2005 as compared to GH¢350,000 by 416 shareholders in 2005.
“The fund intends to position itself by enhancing its visibility through advertisements, as well as identifying ways of reaching out to potential investors across the country,” Mr Kemevo stated.