CardinalStone Asset Management Limited has launched its first-ever Mutual Fund, the “CardinalStone Fixed Income Alpha Fund.”
The launch followed approval by the Securities & Exchange Commission (SEC).
The offer opens today, Monday, February 1, 2021.
The Portfolio Manager, Ida Dublin-Green, was quoted as saying that the Fund would allow investors to have a diversified portfolio of quality assets that are managed by a team of experienced professionals.
The Fund’s objective is to provide investors with steady return on capital, liquidity, and capital preservation, a statement from the Lagos-based firm stated.
The Fund will offer a safe, reliable, suitable, and attractive investment vehicle to retail, high-net-worth and institutional investors, and welcomes participation from both resident and foreigners.
In addition, Co-Founder/Director at CardinalStone, Mohammed Garuba, opined that, “the Fund Manager’s expertise and capacity, together with the proposed investment mix and fund structure, will ensure that we deliver value to investors.”
The statement added: “The CardinalStone Fixed Income Alpha Fund is coming at a time when fixed-income yields are at all-time lows. It provides an opportunity for investors to seek competitive returns while preserving the value of their investment.
“With an initial fund size of N1 billion, the Fund will be offering 1,000,000,000 units at N1 each with a minimum subscription of 10,000 Units (N10,000). The Fund is open-ended so investors can continuously add new subscriptions.
“The CardinalStone Fixed Income Alpha Fund is part of CardinalStone’s commitment to expanding into the retail market while strengthening its position as an experienced investment manager, who will continuously offer investors a wide array of sound investment solutions,” it added.