FCAM’S Legacy Fund Wins Award


FCAM’s Legacy USD Bond Fund, a dollar mutual fund managed by First City Asset Management Limited (FCAM) recently won the 2018 NSE CEO Award for ‘Fund Manager with the Largest Listed Fund Size.’

The fund was listed on the Nigerian Stock Exchange (NSE) in April this year.

The result of the IPO which was approved by the Securities and Exchange Commission (SEC) had indicated high level of investors’ confidence in the Legacy USD Bond Fund and FCAM, which is a member of FCMB Group Plc.

A statement at the weekend, explained that the fund is an open-ended investment vehicle registered with the SEC and managed by FCAM.

“It gives investors the opportunity to invest in US Dollar denominated fixed income securities on a continuous basis. It also provides flexibility with respect to the timing of investments in, and redemptions from the fund.

“The objective of the Legacy USD Bond Fund aims at generating stable income over the long-term. The fund is being managed as a unit trust scheme designed for investors who seek an efficient way to earn stable income in US Dollar, from investing in a portfolio comprising of high quality, registered, and tradeable US Dollar fixed income securities.

“Also, the fund provides an efficient means of currency diversification, particularly in an environment where investors seek to hedge against future Nigerian Naira depreciation,” the statement added.

Commenting on the feat, Chief Executive Officer of FCAM, Mr. James Ilori said:

“We are delighted to receive this award from the NSE, and dedicate it to investors in Legacy USD Bond Fund, for trusting us to assist them in meeting their investment goals.

“We encourage investors seeking exposure to credit-rated, US Dollar fixed income instruments to achieve this through Legacy USD Bond Fund. Also, the Fund provides an excellent means for investors to regularly save relatively small amounts in US Dollar. We remain committed to creating additional value for individual and institutional investors.”

FCAM which manages two of Nigeria’s leading mutual funds – Legacy Debt Fund and Legacy Equity Fund, has also opened the offer for its Legacy Money Market Fund and provides services that cut-across collective investment schemes such as mutual funds, that are predominantly for retail investors and specialised discretionary portfolio management for ultra-high as well as high networth individuals and institutional investors.

The company has consistently focused on delivering international standard wealth and investment management services, aimed at meeting investors’ desire for safety of investments, diversification and good returns.