Capital Express Seeks Development of Mutual Funds

• Capital Express Seeks Development of Mutual Funds

The Vice-Chairman, Capital Express Global Holdings Limited, Mr. Tony Aletor, has advised investors to reconsider their stance on mutual funds.

Aletor said this while addressing stakeholders at BGL Sapphire Fund’s annual general meeting in Lagos.

During the meeting, BGL Saphire Fund, which is managed by Capital Express Asset and Trust Limited, presented its five years financial reports from 2012 to 2016.

From the report presented, the company said BGL was planning to reposition its operations and change its name to CEAT Fixed Income Fund.

While noting that there were complaints in the past that money was lost because most of the funds were invested in equity stock in the past, he said that there was presently huge prospect in the sector.

“But however, there are various sources of funds, as mutual funds are designed for various purposes, and one of the funds that is currently running in the capital market is the money market funds and the fixed income funds,” he said.

He maintained that money could not be lost in the mutual funds because “they don’t have the kind of diminution that occurs in stock market.”

Aletor encouraged investors to take advantage of the high prevailing interest rates in the market to invest in mutual funds.

Aletor said that mutual funds were under trust and, as such, were guaranteed in the sense that monies were kept with custodians and trustees that work with the asset management firm, to manage and regulate the fund.

According to him, there are better days ahead in mutual funds if investors maximise their opportunities now.