VENTURES AFRICA – FBN capital, the investment banking and asset management unit of FBN Holdings PLC, has launched new mutual fund products as part of its commitment to provide investors with safe investment options and competitive returns.
These investment platforms will aid financial growth both for individual businesses and corporate bodies, a statement released by the company said.
The funds – FBN Money Market Fund, FBN Fixed Income Fund and FBN Heritage Fund – were recently admitted to the daily official list of the Nigerian Stock Exchange (NSE) after successful initial offerings.
The products provide investment-savvy individuals and institutions access to short-term liquid money market instruments, high-grade medium to long-term government bonds, and other debt instruments.
While the FBN Heritage fund give investors exposure to the money markets and bond markets as well as the equity and real estate markets; the FBN Fixed Income Fund offers investors opportunity to invest in Nigeria’s sovereign, state and corporate bonds and other gilt-edge long-tenor securities.
The FBN Money Market Fund on the other hand invests in very liquid short-term instruments. It leverages on its portfolio size, fund management expertise and group synergies to enhance returns to investors by investing in different risk instruments including treasury bills, bank tenured deposits, commercial papers (CPs) and bankers acceptances (BAs).
Director and Head, Asset Management, FBN Capital, Michael Oyebola said the funds were designed in a scalable way that allows small, medium and large scale investors to participate in the funds and benefit from the current high returns accruable from the market using the expertise of FBN Capital.
According to him, the primary objective of the funds was to achieve a high level of income obtainable from investments that is consistent with prudent investment management, the preservation of capital and maintenance of liquidity.
FBN Holdings PLC is the oldest and one of the largest banking groups in Nigeria.