Investors have been advised to use professionals and diversify their investments in order to minimise risks and enjoy competitive returns through mutual funds considering the volatility in the Nigerian financial system.
The advice came from the acting Managing Director of Cordros Asset Management Limited (CAML), a subsidiary of Cordros Capital Limited, Mrs. Olafisayo Ogunbiyi-Badaru, who spoke in Lagos on the current state of the financial markets.
According to her, despite the volatility in the market, there are still investment opportunities that investors can take advantage of using the professional services that will ensure steady income.
She noted that in line with CAML’s strategy to create array of products suitable for the underserved retail segment of the economy, the company is currently offering 10 million units of Cordros Money Market Fund (CMMF) at N100 per unit, with minimum subscription of N10,000.
“This is in line with the company’s strategy to create array of products suitable for the underserved retail segment of the economy. The fund is targeted at the retail investors and the main objective is to provide capital preservation, regular income, liquidity and capital appreciation,” she said.
Ogunbiyi-Badaru explained that the fund’s investment objective is to provide capital preservation and regular income to unit holders by investing in high-quality money market instruments recognised by the Securities & Exchange Commission (SEC).
She added that the fund is attractive to all investors who desire a steady stream of income and have low risk appetite.
“High networth individuals with available short term ash balances can also take advantage of the fund to earn higher rates of return. Institutional clients who desire liquidity and easy accessibility to their funds with competitive returns can also take advantage,” she said.
Speaking in the same vein, Group Managing Director, Cordros Capital Limited, Mr. Wale Agbeyangi said the CMMF offers investors the service of professional fund managers with expertise to avoid the common mistakes of the amateur investor.
He disclosed that the fund parades seasoned professional advisers led by Vetiva Capital Management Limited as the Issuing House, STL Trustees Ltd as the Trustee, African Prudential Registrars Ltd as Registrars to the Fund, Babalakin & Co as Solicitor to the Trustees, UBA Plc Global Investor Services as the Custodian , Access Bank Plc as the Receiving Bank and TAC Professional Services as the Reporting Accountant.