Old Mutual posts positive performance

August 26, 2009
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, NAIROBI, Kenya, Aug 26 – Leading investment services provider Old Mutual Investment Services Kenya, weathered challenges in the domestic and international financial markets to post positive performance during the first six months of 2009.

Old Mutual Unit Trust Fund’s sub funds – Old Mutual Equity Fund, Old Mutual Balance Fund, Old Mutual East Africa Fund and Old Mutual Money Market Fund – all registered positive performance in the first half of this year.

“We are pleased that we exceeded the relevant investment performance benchmarks and achieved improved returns for our client base between January and June 2009, despite the challenging business environment,” said Old Mutual Investment Services Managing Director Laura Chakava while announcing the results in Nairobi on Wednesday.

“We will continue to focus on our investment process to seek opportunities that ensure our clients earn competitive yields. Our portfolio continues to attract savers seeking to invest in the medium to long term to fulfill their financial goals.”

Ms Chakava noted that Old Mutual Equity Fund, which is an actively managed portfolio with investments in diversified range of quoted companies, posted an impressive growth of 19.6 percent during quarter two of 2009 ahead of the NSE-20 index that gained 17.5 percent.

“The Fund is designed to provide investors with capital appreciation and income through careful balance of growth and defensive investment strategies,” she said.

On the other hand, the Old Mutual Balanced Fund, which invests in listed equities and interest bearing assets, returned 12.6 percent in three months period to June 2009.

Ms Chakava observed that the recently launched Old Mutual East Africa fund, with a minimum investment of Sh200,000 returned 13.6 percent in quarter two of 2009 and for the six months to June 2009, the Fund has gained 6.4 percent.

“The Old Mutual East Africa Fund strategic focus is on investments within the greater East Africa region and therefore provides investors with access to these markets,” she added.

The Old Mutual Money Market Fund, which primarily invests in short-term interest bearing instruments with maturities of less than year, posted an annualised yield of 8.4 percent as at June 2009. The minimum investment in this fund is Sh50,000 and it offers investors regular stream of income and diversification benefits with economies of scale.

“This fund offers competitive returns, especially to investors, who would otherwise place fixed deposits with commercial banks,” concluded Ms Chakava.
 

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