Galaxy Balanced Fund assets increase by nearly 43 percent

Accra- The Galaxy Balanced Fund under the Galaxy Capital Limited saw its assets increase from G04,993.69 in 2016 to G49,775.08 in 2017, representing a 42.65 percent increase.

This was disclosed by the Board Chairperson of Galaxy Balanced Fund, Dr Suzy Aku Puplampu at the 2nd Annual General Meeting held in Accra.

She said the Galaxy Balanced Fund performed tremendously well in 2017 as a result of the various stocks listed on the Ghana Stock Exchange which the managers carefully and strategically selected and invested into.

The Fund began the year with a price of 0.5408 and ended with a price of 0.7447, yielding an annual return of 37.7 per cent at the close of the year 2017; one of the best performing balanced fund in the industry she stated.

Dr Puplampu assured shareholders that the fund would be strategically positioned to take advantage of the prospective opportunities to yield the best returns in 2018.

She also disclosed that managers and directors had outlined strategies to grow the fund in 2018.

These strategies, Dr Puplampu said, include effective education on the Fund, and mobilization for the Fund.

She said digital transaction initiatives were being setup for better, easy, and convenient distribution.

She appealed to shareholders to support the growth of the Fund through referrals in order to increase the size of the Fund’s portfolio.

The 2nd General Annual Meeting was also used to re-elect the board of directors for the Fund.

Dr Suzy Aku Puplampu serves as the Chairperson for the Board, whiles Reverend Patrick Otieku-Boadu and Mr Hubert Sevor are both serving as Directors, and Ms Gladys Afarchoe was re-elected as the Board’s Secretary.

Galaxy Capital Limited is one of the leading asset management companies in Ghana.

The company was incorporated in 2014, and has developed proven, tried and tested strategies of providing investment advisory and asset management services to both individuals and institutions.

Reverend Samuel Bright-Kaitoo, a renowned investment consultant, is the Chief Executive Officer of Galaxy Capital Limited. The firm manages two mutual funds namely; Galaxy Money Market Fund and Galaxy Balanced Fund.

Source: Ghana News Agency