Cordros Asset Management’s N1b fund closes today
Cordros Money Market Fund’s Initial Public Offering (IPO), which opened for subscription on August 1, 2016 will close today. Cordros Asset Management Limited launched the fund.
The Fund is an open ended one, authorized and registered in Nigeria as a Unit Trust Scheme under Section 160 of the Investment and Securities Act.
According to the company, the objective was to provide capital preservation and regular income to unit holders by investing in high-quality money market instruments recognised by the Securities and Exchange Commission (SEC).
The minimum amount required to subscribe to the fund, according to the firm is N10,000 and investors can make a minimum additional investment of N5,000 as often as they have investible funds.
The Group Managing Director of the company, Wale Agbeyangi, in a recent investment forum, stressed the relevance of professional portfolio managers in creating and protecting wealth for investors.
He further stated that mutual funds are set up for investors who do not understand the complexities of the financial market but desire to invest in various asset classes.
The Acting Managing Director of the company, Olafisayo Ogunbiyi-Badaru, during a recent television interview, emphasised the attractiveness and safety of mutual funds.
A critical point she highlighted under the safety of mutual fund is the structure and regulation that have been put in place by the regulators to grow the fund.
She stated that the SEC regulates the industry, while encouraging investors to take advantage of the current high interest rate environment in the country.
Cordros Asset Management Limited is a subsidiary of Cordros Capital Limited licensed by SEC.
Cordros Asset Management said it aims to attain leadership position in the industry through delivery of extensive products targeted at the underserved retail segment in the near future.
With a team drawn from a wide range of professional backgrounds, their comprehensive expertise allows them to develop portfolio structures that enables clients achieve their overall investment objectives.