EDC Ghana Fixed Income Unit Trust held an Annual General Meeting (AGM) at the Osu Presby Church Hall to update shareholders and investors on the performance of the fund in 2016 and the strategy for the 2017.

The fund outperformed its benchmark (GoG 1-Year Note) on the back of an optimal asset allocation by the fund manager in 2016 that helped the fund to post a return of 27.3% versus benchmark return of 23.0%. For long-term investors, it is important to note that the fund has posted a cumulative return of 169.7% since its inception in July 2012.

The fund's good performance helped to attract new investors in 2016, resulting in the fund's client base rising by 53.0%y/y to 12,228 investors. Consequently, the AUM of the EDC Ghana Fixed Income Unit Trust jumped by 428.0%y/y to GHS197.10 million in 2016. The fund has continued to grow strongly in 2017 to become the largest the fixed income fund in Ghana.

The AGM for the EDC Ghana Fixed Income Unit Trust was followed by that of the EDC Ghana Balanced Fund, which posted a return of 10.4% versus the benchmark return of 3.8%. The fund manager remains optimistic about the prospects for 2017 on the back of improving macroeconomic environment that has fueled a strong recovery of the stock market.