By Juliet Etefe
Copyright thebftonline
The GLICO Fixed Income Fund has marked a major milestone with the successful hosting of its maiden Annual General Meeting (AGM), reporting strong first-year performance and reaffirming its commitment to delivering long-term value to shareholders.
The AGM was held virtually via Microsoft Teams, with an in-person broadcast from the GLICO Plaza in Accra. The meeting brought together the Fund’s Board of Directors, the Fund Manager — GLICO Capital, the Custodian — First Atlantic Bank, the Auditors — John Kay & Co., and the Company Secretary — LB Nominees, ensuring transparency and compliance with regulatory requirements.
In his report, Mr. Alfred Yaw Ofori Kuragu, Chairman of the Fund, highlighted key performance metrics, including the total assets under management, fund returns, portfolio composition, and shareholder value.
Delivering the Fund Manager’s statement, Ms. Ruth Fordjour reported that the Fund’s Initial Public Offering (IPO) in April 2024 had been successful, attracting 898 subscribers.
The Fund delivered an annualized return of 21.75%, and by year-end, the share price had risen to GHS 0.5667 from the initial offer price of GHS 0.50. She emphasized that the Fund will continue to focus on preserving capital, optimizing returns, and ensuring liquidity through active portfolio management.
Commenting on the performance, Mr. Anthony Boadu, Managing Director of GLICO Capital, said: “This maiden AGM reflects not only our accountability to shareholders but also the resilience of the Fund in delivering strong returns in its first year.
“We remain committed to preserving capital, optimizing returns, and building long-term wealth for our investors, guided by prudent portfolio management and strong governance practices.”
The meeting considered the Fund’s audited financial statements, performance for the reporting year, and strategies for the years ahead. Shareholders engaged actively through the virtual platform, asking questions and contributing to discussions — underscoring the Fund’s commitment to inclusiveness and accountability.
The full Annual Report of the GLICO Fixed Income Fund, including detailed statements from the Chairman, the Fund Manager, the Auditor, and the Custodian, is available on the company’s website at www.glicocapital.com.
In closing, the Chairman, Mr. Kuragu, expressed sincere appreciation to shareholders for their trust and confidence, reaffirming that the Fund is well-positioned to navigate the evolving investment landscape.
He emphasized that the GLICO Fixed Income Fund will continue to preserve capital, optimize returns, and provide consistent value — anchored on transparency and sound corporate governance.
About GLICO Fixed Income Fund
The GLICO Fixed Income Fund is a collective investment scheme managed by GLICO Capital Limited, designed to maximise short-term income while ensuring immediate liquidity by investing in a diversified portfolio of fixed income securities. The Fund is dedicated to preserving capital while optimizing returns through prudent portfolio management.
GLICO Capital is a member of the GLICO Group. GLICO Group comprises six member companies: GLICO Life Insurance LTD, GLICO General Insurance LTD, GLICO Health Insurance LTD, GLICO Pensions Trustee LTD, GLICO Capital LTD, and GLICO Properties LTD.
