Expert calls for financial literacy to boost capital market growth

A financial expert has called for more financial literacy to boost growth in the capital market.

Managing Director, PAC Asset Management Limited (PACAM), Dele Ige, revealed this in Lagos, during the signing ceremony of PAC Asset Management Limited (PACAM), Equity Fund and PAC Asset Management Limited (PACAM), Eurobond Fund.

According to him, it is important that Nigerians understand opportunities in the capital market to enable them make informed investment decisions.

“This is why greater awareness about the capital market is required on the part of retail investors to evaluate available choices, especially as it concerns collective investment schemes”, he added.

On the two new funds, the Managing Director said PACAM Equity Fund and PACAM Eurobond Fund are purposed for different concerns in the market.

“The equity fund is for professional investment management seeking stock market exposure while the Eurobond markets provides an outlet for investors to hedge against forex volatility and earn superior returns on their forex stock.

“The funds will serve both retail and large investors. The introduction of the new funds will take our number of funds to five in total” he added.

While commenting on the impact of PACAM on the financial market, Ige said that the firm has consistently provided different funds for the benefit of investors.

“Since 2012, when we got our license to do Funds and Portfolio Management from SEC, we have introduced the PACAM Balance Fund in 2015, PACAM Money Market Fund and PACAM Fixed Income Fund in 2016.

“Our PACAM Balanced Fund from inception till date has returned about 50 per cent to investors, so people who invested N1m at introduction now enjoy a net worth of N1.50m today. Also, the fixed income fund has returned about 25 per cent to investors,” he noted.

PAC Asset Management, a Pan African Capital Holdings Company, has used technology to drive awareness about its various financial markets’ products, participants and processes which is crucial for the development of any country’s economy and is essential especially for Nigeria’s emergence as a top 20 global economy by the year 2020.