FBN Capital Launches Mutual Fund Products

21 Jan 2013

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FBN Capital

FBN Capital Limited through its Asset Management arm, at the weekend, unveiled mutual fund products designed to provide investors with safe havens and competitive returns on their money.

These investment platforms, according to a statement from the company, would aid financial growth both for individuals, businesses and corporations.

The funds - FBN Money Market Fund, FBN Fixed Income Fund and FBN Heritage Fund, were recently admitted to the daily official list of the Nigerian Stock Exchange (NSE) after successful initial offerings.

A total of 17.98 million units of FBN Money Market Fund were admitted at par value of N100 each while 1.75 million units of FBN Fixed Income Fund were admitted at N1, 000 par value.

The FBN Money Market Fund invests in very liquid short term instruments while the FBN Fixed Income Fund offers investors opportunity to invest in Nigeria’s sovereign, state and corporate bonds and other gilt-edge long-tenor securities.

Besides the FBN Money Market Fund and the FBN Fixed Income Fund, FBN capital also offers the FBN Heritage fund which gives investors exposure to the money markets and bond markets as well as the equity and real estate markets too.

Director and Head, Asset Management, FBN Capital, Mr. Michael Oyebola, said the funds were designed in a scalable way that allows small, medium and large scale investors to participate in the funds and benefit from the current high returns accruable from the market using the expertise of FBN Capital.

He outlined that as open ended funds, FBN Capital would continue to offer units of the funds to investors noting that investors can invest in FBN Money Market Fund with as low as N5, 000 while minimum investment in the FBN Fixed Income Fund and the FBN Heritage Fund is N50, 000.

According to him, the primary objective of the funds is to achieve a high level of income obtainable from investments that is consistent with prudent investment management, the preservation of capital and maintenance of liquidity.

Tags: Nigeria, Featured, Business, FBN Capital

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