United Capital Asset Management, a subsidiary of United Capital Plc, yesterday listed two billion units of the United Capital Wealth for Women Fund and 100,000 units of United Capital Nigerian Eurobond Fund on the Nigerian Stock Exchange (NSE).
The two new funds were officially opened to the public on January 25, 2017 as a means to addressing the needs of the diversified client base and evolving investment needs of indigenous and global clients. The United Capital Nigerian Eurobond Fund is an open-ended mutual fund invested in Dollar denominated Eurobonds, floated by the Federal Government of Nigeria, Nigerian top tier banks and other corporate Issuers whose securities are registered with the Securities and Exchange Commission (SEC). The fund is focused on achieving competitive returns on foreign currency investment amid the current volatility in the value of the Naira.
On the other hand, the United Capital Wealth for Women Fund aims to encourage women to imbibe a savings culture, provide an avenue for women to be financially independent and foster female empowerment by investing in businesses who have significant women representation on their boards and/or management. A maximum of 80 per cent of the Fundâ€™s assets are invested primarily in Naira denominated fixed income and high yielding instruments and 20% are invested in carefully selected quoted stocks from the Nigerian Stock Exchange.
Commenting on the listing , Deputy Group CEO, United Capital Plc, Bunmi Akinremi said: â€œWe are pleased to be officially listing our new funds today â€“ The Wealth for Women Fund and The Nigerian Eurobond Fund on the Nigerian Stock Exchange. The success of these funds further testifies to our commitment to providing bespoke value added products to our clients.â€
United Capital Asset Management, also operates four additional successful Mutual Fund portfolios (United Capital Bond Fund, United Capital Equity Fund, United Capital Money Market Fund, and United Capital Balanced Fund).
Commenting, the Managing Director/CEO of United Capital Asset Management, Mr. Jude Chiemekasaid: â€œOur mutual funds have consistently offered attractive dividend returns for investors and we expect our two new funds to follow suit. We understand that the market is evolving, which means our consumer/customer expectations are also changing and we want to be at the forefront of that change. By consistently developing innovative products for our clients, such as the Nigerian Eurobond Fund and the Wealth for Women Fund it will allow us to do just that.â€