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Fund Managers Association of Nigeria Meets Tomorrow
BY Goddy Egene
All is now set for the general meeting of the Fund Managers Association of Nigeria (FMAN) tomorrow in Lagos. FMAN is a body tasked with the responsibility of developing the fund management industry and representing its members on issues on both national and international fronts. The meeting will take place at SEC Lagos zonal office, Idejo Street, Victoria Island, Lagos at 9.00 a.m.
The association said in a statement that Mr. Bismark Rewane, a member of the FMAN Board of Trustees, a nd Managing Director of Financial Derivatives Company Limited, will be discussing an issue topical to the Industry.
“The meeting would also serve as an opportunity for the Association to relay to her members all what it has been doing to move the industry forward and present programmes planned for 2017. Given the importance in conveying this vital information, the Association has decided to extend this invitation to all SEC registered Fund/Portfolio Managers, Private Equity Managers and Venture Capital Fund Managers (members and non-members alike),” the statement said.
The aim of FMAN is to address all the issues affecting the industry’s development and represent its members at national and international levels in on-going discussion about the future regulatory framework for the industry.
Members of the FMAN are actively involved in managing collective investment schemes (CIS). Market regulators have, over the years, advised investors to invest through managed funds, using FMAN members who have the expertise to deliver value on clients’ investments.
Investing through managed funds will avoid disappointment or reduce risks associated with direct investment. It is believed that managed funds held to reduce risks. The best way of managing risk in investment is to spread it by diversifying the portfolio. Investment in unit trust scheme leads to instant diversification to achieve market-wide coverage.
Since a mutual fund is a collection of stocks, bonds and money market securities held in a pool but then sliced into units sold to individual investors, any unit of the fund receives the diversification benefit of this large collection of different types of securities in the portfolio.
Also, investing through mutual funds gives an investor access to professional skills employed to invest and manage the funds. Small investors or beginners and even some high net-worth investors do not have the skills to analyse the prospects for individual companies and make a good choice present the best investment options.
