Legacy Equity Fund has declared a dividend of N0.087 per unit for the 2014 financial year.

The dividend, which is 8.75per cent higher than the N0.08 that was paid in the previous year, according to the company, is payable to unit holders of the Fund whose names appeared in the register of members at the close of business on Friday, June 19, 2015, with effective dividend payment date of July 7, 2015.

Given that the average inflation rate in the Fund year was 8per cent, the dividend represents a real return of 0.75per cent to investors.

In the audited results for the year ended June 30, 2014, Legacy Equity Fund recorded a gross income of N115.20million. Also, the Fund recorded a net profit of N92.81million as at 30th June 2014.

Speaking at the yearly general meeting in Lagos on Tuesday, the Managing Director of CSL Stockbrokers Limited, Olugboyega Balogun assured that the Fund would continue to create real value for all unit-holders.

“This is a reflection of our commitment to delivering ‘best-in-class’ performance to investors, who have entrusted us with their savings”.
 
The Chief Executive Officer of First City Asset Management Limited, James Ilori, stated that the recent approval granted by the Securities & Exchange Commission for the revised Fund Strategy, should positively impact Fund performance.

“We aim to outperform the benchmark, the Nigerian Stock Exchange All-share index, on an on-going basis, at relatively lower volatility of returns. At First City Asset Management Ltd, we continue to emphasize talent, teamwork, innovation, integrity and consistency.”
 
Legacy Equity Fund is specifically designed for individuals who want a broad exposure to the Nigerian Stock Exchange. This allows the client to invest in a well-diversified portfolio of shares on the stock exchange with as little as ten thousand units at the prevailing offer price.

As the manager of the Fund, First City Asset Management Ltd ensures that the public subscribe to the Fund and thereafter invests such money in quoted companies and other financial instruments in accordance with the Trust Deed.

The Fund has investment in most of the twelve sectors of the Nigerian economy, including Agriculture, Construction/Real Estate, Consumer Goods, Financial Services and Industrial Goods.