PAC Asset MD Ige targets laurels, promise investors unique business solutions

PAC Asset Management Limited “PAC Asset”, a subsidiary of PanAfrican Capital Holdings, has been making giant strides in the financial sector.

Recently, the company won Best Equity Fund Award at the 2021 Global Banking & Finance Awards.

PAC Asset won the award as its Equity fund had performed excellently in 2020. The award, organised by the United Kingdom-based Global Banking & Finance Review magazine recognises the growth and performance of PAC Asset’s Equity Fund.

In this interview, PAC Asset Management Limited managing director Dele Ige spoke about the company’s strides, innovation, COVID-19’s global impact and how the company intends to consolidate on these achievements.

PAC Asset Management Limited has been in the news of recent, can you tell us more about the company?
PAC Asset Management Limited has been in the news recently for the notable performance of PACAM Equity Fund. The fund came out as one of the highest returning funds in its category in the 2020 period.
PAC Asset management Limited is licensed by the Securities and Exchange Commission as a Funds/Portfolio Manager. We currently manage 5 collective investment schemes (mutual funds) including PACAM Money Market Fund, PACAM Fixed Income Fund, PACAM Eurobond Fund, PACAM Balanced Fund and of course, PACAM Equity Fund. We also provide Discretionary & Non-discretionary Wealth Management services to clients. Our Board is chaired by Mr. Chris Oshiafi, supported by Mr. Sina Alimiand Eric Okoruwa as Directors and Dele Ige as Managing Director. PAC Asset Management is part of PanAfrican Capital Holdings Limited which is a proprietary investment firm.

Recently, PAC Asset Management won a few awards, what do you attribute the laurels to?
PAC Asset management bagged a couple of awards and received recognition from notable platforms. The awards received include ‘Best Equity Fund in Nigeria 2020’ by Global Banking & Finance Awards and ‘Best Performing Equity Fund’ by Business AM award. Special recognition was also received from the notable Nairametrics.
This performance is mainly attributable to the excellent team of PAC Asset Management from the Fund Manager all the way up to the directors. It is also worthy of note that proper analysis and research was done with the help of the research team. This helped to make tactical and strategic allocations as well as taking the right position in the market.

How does the company aim to consolidate on the feat achieved?
We will continue to implement our investment strategy and fine tune as market conditions dictate. We employ a business perspective approach to investing and our decisions are based on thorough analysis of securities we select into our portfolio.

How much of an impact did the COVID-19 pandemic affect PAC Asset Management operations and output?
The pandemic meant that the conduct of business shifted from physical to virtual. It offered a rare opportunity to maximize utility of already installed technology infrastructure and to upgrade, as necessary. We inculcated a new culture of remote work and found ways to make it productive too. On a lighter note, we found that traffic can be minimized on our roads.

Did COVID-19 force the company to make any changes? What are they?
Prior to the pandemic, we had considered a Work-from-Home Policy. The pandemic and ensuing lockdown presented an opportunity to implement this program which has become a tool to help our teams attain work-life balance.

What structures have the company put in place to forestall the impact of unforeseen occurrences like COVID-19 and the economic lockdown on its operations at least to the barest minimum?
From recent experience, we have seen that technology and communication tools are two critical enablers of remote work. We continue to invest in these tools to ensure that we are never again caught off guard, we weren’t in the first instance. Our Business Continuity protocol is constantly being reviewed to ensure that our responses are up to date at anytime and we facilitate continuously improve on technology appreciate for our people.

There has been a surge in the emergence of financial technology companies in Nigeria, do you think the existing financial sector structure is threatened with these developments?
FINTECH has come to stay and indeed it has shaken the financial sector. As a threat to the financial sector? We only see it as welcome addition which will help in addressing the issues of financial inclusion in the country today.

What level of impact do you think the Securities & Exchange Commission (SEC)’s recent regulation on foreign securities will have in the local market?
In our estimation, the Securities and Exchange Commission is exercising their investor protection mandate in restricting activities in foreign securities. With technological innovation access to other markets is easier, however there is no regulatory coverage for this new trend in investing.

That said, the position of the SEC is clear, Nigerian Capital Market Operators cannot partner with platforms that offer foreign-quoted securities, this significantly reduces the patronage base for this asset class.

Why should an individual or investor choose PAC Asset Management over other contemporaries?
At PAC Asset we see every investor as a unique person with unique needs. Our strategy is first to understand your needs and to design a best-fit solution. Our solutions are always tailor-made to suit you.