Cal Asset Management has shared exciting news about its performance in 2023 and its positive outlook for 2024.
At its recent Annual General Meeting (AGM), CEO James Elijah Donkoh highlighted the “impressive growth of their two main investment funds,” which were launched in September 2022.
The Cal Benefit Fixed Income Unit Trust saw its value increase by 250.33% over the year, reaching GH₵16.87 million. The Cal Advantage Balanced Unit Trust also performed well, growing by 100.39% to GH₵4.45 million.
Mr. Donkoh noted that the Cal Benefit Fund is now the most liquid fixed-income fund on the market and ranks sixth in returns among mutual funds. The funds were renamed to make their purpose clearer to investors.
A key part of the company’s strategy is expanding into offshore investments to reduce risk and protect against inflation. Mr. Donkoh explained that this move will help diversify investments into foreign currencies and securities.
The company is also encouraged by the strong performance of the Ghanaian equity market, with the Ghana Stock Exchange Composite Index gaining 28.08% in 2023. Cal Asset Management’s fund managers expect the equity market to continue growing through 2024.
Looking ahead, Cal Asset Management plans to further diversify its portfolio to enhance long-term value. Despite falling slightly short of benchmarks in 2023, the company is confident in its strategy and ability to provide value to investors.
