The increase in investment income, was due to the marginal increase in interest rates on money market instruments.

Mr Edward Asamoah, Manager of the Fund made, this known at the 19th Annual General Meeting (AGM) of the fund in Kumasi.
He said the Net Investment Income of the fund also increased from GHc 362,071.00 recorded in 2022, to Ghc 373,113.00 in 2023.

Mr Asamoah said total liabilities for the year stood at GHc 95,649 and redemption of shares decreased from the previous year's Ghc 687,816 to Ghc 450,096.00 in the year under review, representing a reduction of 34.36 percent.
He added that Net Asset Value per share increased from Ghc 0.9675 cedis to Ghc1.0285, representing an annual yield of 6.3 percent.

The overall portfolio of the fund includes equities of Ghc 630,061.00, money market instruments of Ghc 2,838,693.00, and other assets in excess liability of Ghc 139,872.00.

The Fund Manager also pointed out that, the country's economy was predicted to develop less in 2024, despite increased in economic activity brought on by the manufacturing sector's rebound and planned rate reduction in monetary policy.

If the government continued to pay off its debts, both old and new bond market should gradually rebound along with Ghana's economy.

He said the fund was committed to optimising returns and making sure that investors had long term financial security Most Reverend Professor Daniel Yinkah Sarfo, Chair of the Board of Directors of the Fund, said they expected a substantial rise in Gross Domestic Product (GDP), estimated to reach 3.9 per cent.

Additionally, the International Monitory Fund's (IMF) next round of funding was anticipated to be crucial in helping to stabilise the economy.
It will bring macro-economic stability back and create a framework for faster and more inclusive economic growth.

The fund's impressive performance, he added, was expected to grow in 2024, but in moderation as mixed performance of the equity market might affect the rate of growth.
Rev. Yinkah Sarfo, assured shareholders of earning positive returns on their investments by the end of the year 2024.

He encouraged shareholders to buy more shares on a regular basis to enjoy the long-term benefits of the fund.