Kumasi, Oct. 2, GNA - Share prices of Anidaso Mutual Fund, (AMF) increased from GH¢0.1480 in 2007 to GH¢0.1999 in 2008. This represented an increase of 35.07 per cent in share value as against the 32.7 per cent in 2007.

The net asset value of the Fund also appreciated by 117.44 per cent to GH¢646,352 as against GH¢297,254 in 2007.

Mr Albert Kogya, Equity Investment Officer,New Generation Investment Services Limited (NGIS), Managers of AMF, made this known at the annual general meeting of shareholders of the Fund in Kumasi on Friday. He said even though the investment climate, especially in the latter part of 2008 was challenging as a result of the global economic downturn, the Fund posted positive performance in 2008.

He said the Fund had invested in 15 equities, money market instruments and cash, adding that, 58.38 per cent of its equities are in the financial sector, 4.06 per cent in Brewery, 7.41 per cent in manufacturing and 8.50 per cent in the oil marketing sector. Mr Kogya, however, expressed concern about the rate at which some shareholders have been redeeming their shares as a result of the panic caused by the general global financial crisis and the dull nature of the Ghana Stock Exchange (GSE), especially at the latter part of 2008. He pointed out that what was happening at the stock market had happened before and said he was confident that things would soon change for the market to pick up.

Mr Kogya therefore, appealed to shareholders to take advantage of the current low price levels and buy more shares and hold on to them for a little longer, to enable them reap more benefits. Professor Sam Afranie, Director of NGIS, pledged the Fund's managers' resolve to work diligently and invest shareholders money in high yielding investment portfolios to grow shareholders' capital. He called on shareholders to promote the Fund in order to attract more people to it.

Right Reverend Daniel Yinkah Sarfo, Angilcan Bishop of Kumasi and a Director, urged shareholders to buy additional shares and work to attract more people to buy shares to raise the capital and assets base.