Berkshire Asset Management Limited will open subscriptions for its money market fund today, October 12, allowing investors to participate with a minimum of N10, 000.

The Berkshire Money Market Fund is an open-ended unit trust offering two billion units at N1 each. The company unveiled the fund and signed its prospectus at a ceremony in Lagos on Friday.

Investors can subscribe for a minimum of 10,000 units, while additional investments must be in multiples of 5,000 units. The fund is open to retail investors, high net worth individuals, and domestic and foreign institutional investors.

Registered with the Securities and Exchange Commission (SEC), the fund will invest mainly in short-term, investment-grade money market instruments. Its performance will be benchmarked against the average yield on 91-day Nigerian Treasury Bills, with capital preservation, liquidity and income generation as its primary objectives.

The fund has CFG Africa Trustees Limited as trustee, Rand Merchant Bank Nigeria Limited as custodian, and Cordros Registrars Limited as registrar. The fund is also rated by DataPro Limited and audited by Ijewere & Co.

Managing Director and Chief Executive Officer, Adetola Odusote, said the fund would use technology to pool investments from individuals and channel them into short-term debt instruments.

“Investors should not necessarily need to be an expert in the financial markets to begin the journey towards better financial outcomes,” he said.

Odusote said the company’s investment approach focused on long-term wealth creation, execution and capital preservation. He identified technology, partnerships, advocacy and sustainability as the four pillars of its strategy.

He also cited the growth of the middle class, pension assets and digital investment platforms as factors shaping Nigeria’s investment market. He said investor education was necessary to help people distinguish legitimate investment opportunities from scams.

He also cited the growth of the middle class, pension assets and digital investment platforms as factors shaping Nigeria’s investment market. He said investor education was necessary to help people distinguish legitimate investment opportunities from scams.

Chairman of the firm, Usman Abdulqadir, said the company was established to expand investment options in Nigeria’s capital market.

He said the firm would focus on transparency, discipline and risk management, adding that collective investment schemes allow investors to pool funds for professional management and diversification.

Rand Merchant Bank noted that Nigeria’s mutual fund assets had grown to more than N7.7 trillion, with money market funds accounting for about N4.7 trillion. It said a significant share of personal and institutional wealth remained outside professionally managed investment schemes, despite Nigeria’s population of more than 237 million. The bank, as custodian, will safeguard the fund’s assets and provide independent oversight to protect investors’ interests.

The Chief Compliance Officer, Ogochukwu Mba, said the fund would provide investors with access to high-quality money market instruments while prioritising liquidity, capital preservation and prudent risk management within the regulatory framework.