Closing the year at 22.02% on investments, the Ideal Sika Fund managed to pull an impressive yield of 9% above averaged treasury bill rate of 13.31%.
The rate which is deemed one of the highest on the market was no easy feat considering the current challenges that have rocked the banking sector.
A statement in the Fund’s latest report said, “admittedly there has been a reduction in public confidence due to the ongoing enforcement of regulatory provisions by the Central Bank in the financial sector. This posed a challenge to expected levels of investment inflows.”
Despite the challenges, Managers of the Fund remain confident that the fund will remain resilient and continue to perform positively.
The Ideal Sika Fund is an open-ended money mutual fund with the objective of providing regular income while preserving capital and maintaining liquidity at all times.
They invest in a diversified portfolio of high quality fixed income securities and other money market instruments.