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Gold Fund records 13 percent growth

BY: Enoch Darfah Frimpong

The Gold Fund Unit Trust Scheme managed by Gold Coast Securities, returned a 13 per cent for the year ending 2011.

Cumulatively, between 2006 to 2011, the fund grew by 89 per cent compared to 72 per cent achieved by the GSE All-Share Index.

A member of the board of directors of Gold Coast Securities, Mr Seth Kye, who announced this at the 7th Annual General Meeting in Accra said “although the Ghana Stock Exchange (GSE) recorded a loss of 3.1 per cent with most of the funds on the GSE not doing well, the Gold Fund Unit Trust performed better by recording the 13 per cent increase”.

Mr Kye also noted that “This means the Gold Fund investments performed better by 17 per cent than the stock market index over the last five years”.

He encouraged shareholders to invest more in the fund as 2013 promises to be a better year.

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Mr Kye mentioned that although the uncertainty of the stock market and investor downward expectations contributed to the fund losing some holders from redemption, he congratulated managers of the fund for the hard work that culminated in the 13 per cent growth in the fund.

He further assured investors of a higher return on their investments in the year when GCSCL would be celebrating 20 years of growing customer’s money (2013) and to expect more returns on their investments as companies listed on the GSE are expected to benefit from Ghana’s economic growth.

Another factor for a possible increase in their returns, he said, was the positive output to equity investors in Ghana, which he said would come from the expected growth of Ghana’s economy.

Story by Charles Benoni Okine