{"id":37118,"date":"2014-08-02T12:45:15","date_gmt":"2014-08-02T12:45:15","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=37118"},"modified":"2014-08-05T16:27:16","modified_gmt":"2014-08-05T16:27:16","slug":"sirius-opportunity-fund-records-growth","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2014\/08\/sirius-opportunity-fund-records-growth\/","title":{"rendered":"Sirius Opportunity Fund records growth"},"content":{"rendered":"<div id=\"stcpDiv\">\n<div>\n<p>The Sirius Opportunity Fund, an open-ended money market mutual fund, has recorded 14 per cent growth, six months after it started operations.<\/p>\n<\/div>\n<div>\n<p>The fund, which opened in May last year with a share of 0.50 pesewas, ended trading at 0.55 pesewas at the end of the year; performing better than the Government of Ghana\u2019s Treasury bill (TBills).<\/p>\n<p>A member of the Board of Directors of the fund, Mr Michael Mba Allan, said this at the first Annual General Meeting of the company in Accra.<\/p>\n<p>According to him, the fund also performed better than most fixed deposits and other savings and investment accounts.<\/p>\n<p>\u201cThe funds\u2019 asset in June 14, 2013, was GH\u00a2421,320, and ended at the end of the year with an income shortfall of GH\u00a215,684,\u201d describing it as an impressive result.<\/p>\n<p>Mr Allan indicated that the 2014 economic environment had been challenging in the face of increase in utility tariffs, petroleum prices and the sharp depreciation of the cedi against major trading currencies.<\/p>\n<p>\u201cHowever, we still anticipate the economy to grow by 7-8 per cent mainly on the back of oil and gas production, construction, agriculture, mining, cocoa and service subsectors,\u201d he added.<\/p>\n<p>He noted that: \u201cAs the government seeks to control fiscal deficit through its focus on programmes that will increase revenues and minimise expenditure, we hope that this will likely translate positively into reduction in interest rates for Ghana in the long term.\u201d<\/p>\n<p>However, Mr Allan added that in spite of the challenges, the company was well placed to adapt to the new macroeconomic circumstances and would continue to perform above the fund\u2019s benchmark.<\/p>\n<p>According to him, the money market funds were still one of the most profitable investments to make in the country, and reiterated the company\u2019s commitment to put measures in place to ensure value for money on clients\u2019 investments.<\/p>\n<p>He said the fund planned to gear its investments toward medium-term securities and embark on massive advertising to introduce its products to many more people.<\/p>\n<p>\u201cWe are positive that with the implementation of new strategies, we will boost shareholders confidence as well as attract new investors onto our platform,\u201d he added.<\/p>\n<\/div>\n<div>Credit: Sirius Investment<\/div>\n<div><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Sirius Opportunity Fund, an open-ended money market mutual fund, has recorded 14 per cent growth, six months after it started operations. The fund, which opened in May last year with a share of 0.50 pesewas, ended trading at 0.55 pesewas at the end of the year; performing better than the Government of Ghana\u2019s Treasury [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":37126,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[19],"tags":[4],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sirius Opportunity Fund records growth  - Citi 97.3 FM - Relevant Radio. 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