- Coronation Asset Management Lists N2.17bn Mutual Funds
Coronation Asset Management, a subsidiary of Coronation Merchant Bank Limited, has listed three mutual funds on the Nigerian Stock Exchange for trading and accessibility by retail and institutional investors.
The three listed funds are Coronation Money Market Fund; Coronation Fixed Income Fund and Coronation Balanced Fund.
The firm said it was able to achieve the feat within its first year of operation.
While 479 subscribers pooled N1.654bn through the Coronation Money Market Fund, Coronation Fixed Income had 39 subscribers and yielded N315.205m; and Coronation Balanced Fund with 64 subscribers achieved N198.615m.
The funds, which opened from July 10 and 28, 2017 at N1.00 per unit, offered all categories of investors, three viable options in line with domestic economic and financial market conditions, an opportunity to diversify their investment portfolios while relying on the experience and performance track record of the Coronation brand to ensure their investments attain its required financial outcome.
Commenting on the funds, a director in Coronation Asset Management, Aigbovbioise Aig-Imoukhuede, said, “These funds will guarantee investors’ competitive yields as the business has put together a strong investment management team who will be guided by an investment committee with over 50 years combined experience to ensure the funds deliver on the expectations of investors.”
“While the Coronation Money Market Fund offers investors the opportunity to maximize return on their liquid savings, the Coronation Fixed Income and Balanced Funds provide the best opportunity to realise medium to long term investment goals,” he added.
Earlier in his address, the Chairman of Coronation Asset Management and Managing Director, Coronation Merchant Bank Group, Abubakar Jimoh, described the funds-listing as “yet another milestone in the history of our company and validation of our expertise in asset management.”
