CM Fund Limited, a medium to long-term collective investment scheme, achieved significant financial growth in 2023, posting a profit of GH¢7.07 million, up from GH¢5.49 million in 2022. The fund’s total assets also saw an increase, rising from GH¢45.96 million in 2022 to GH¢49.211 million in 2023. Similarly, shareholders’ funds grew from GH¢45.79 million in 2022 to GH¢49.07 million in 2023.

This financial performance was announced by Mr. Emile Yartey, the Board Chairman of CM Fund Limited, during the fund’s 13th Annual General Meeting held in Accra. Mr. Yartey noted that despite the global economic challenges, including slow growth and high inflation, the fund successfully met the needs of its shareholders.

He explained that the global economy experienced a slowdown, with growth decreasing from 3.5% in 2022 to 3.0% in 2023. Developing countries, in particular, faced high levels of external debt and rising interest rates, making access to international capital markets difficult. The increase in global interest rates, driven by monetary policy tightening by central banks, escalated debt servicing costs, especially for countries with foreign currency-denominated debts.

“Despite these challenges, the fund was able to meet the various needs of its shareholders,” Mr. Yartey stated. He also expressed cautious optimism for the coming year, anticipating marginal redemption pressure but with improved mobilization at a slower pace.

Looking ahead, Mr. Clarkson Duku Acheampong, the Portfolio Manager, outlined the fund’s strategy for 2024. To ensure sufficient liquidity, the fund plans to capitalize on short-term investment opportunities with attractive returns to address redemption requests promptly. Mr. Acheampong assured shareholders of the fund’s commitment to excellent customer service and portfolio management.

“We will continue to strengthen our relationships with customers who have excess funds through various communication methods, including phone calls, emails, text messages, and face-to-face meetings when possible,” Mr. Acheampong said. He encouraged shareholders to remain resilient as the fund navigates the coming year.

The CM Fund Limited’s strong financial performance in 2023 reflects its effective management and strategic approach, positioning it well for continued growth and stability in the future.