Nigeria’s exchange rate stabilisation, declining benchmark interest rate and strong stock market performance have prompted investment platform Risevest to expand its offerings with three mutual funds targeting different investment needs.

The company said the changing economic conditions over the past two years had created a need to provide investors with greater exposure to opportunities in the Nigerian market.

Speaking at the launch in Lagos, product manager at Risevest, Ebube Ilo, said the funds were designed to meet three investment needs: growth, liquidity and income.

“These changes require us to also evolve and give you greater exposure to more Nigerian opportunities, and that’s why today, for the first time, mutual funds are coming to Rise,” Ilo said.

The Risevest Naira Equity Fund will invest in listed companies across six sectors, including financial services, consumer goods, ICT, oil and gas, industrial goods and agriculture, with the aim of outperforming the NGX 30.

The Risevest Dollar Fund will focus on dollar-denominated investments, including Nigerian government and corporate Eurobonds, while the Risevest Money Market Fund will invest in short-term instruments such as treasury bills, fixed deposits and commercial papers.

The company also unveiled Rise Business, a multi-currency account designed to help Nigerian businesses manage cross-border transactions. It provides accounts in naira, dollars, pounds sterling and euros, with payment services covering more than 60 countries.

Risevest said the business product also offers investment options with quoted annual returns of 10 per cent on dollar investments and an average of 23 per cent on naira investments. The figures are returns quoted by the company, which describes the options as low-risk.

The mutual funds will be managed by RV Fund Management Limited, with United Capital Trustees serving as trustee and First Bank of Nigeria as custodian.

Co-founder and chief product officer of Risevest, Tony Odiba, said the expansion was part of the company’s effort to widen access to investment opportunities for Africans.

“At Risevest, we believe in building wealth for generations. If you are familiar with our mission and our vision, our mission has always been very simple: giving Africans access to wealth-grade opportunities, and what is happening here today is another step forward towards that,” he said.