The Nigerian Exchange Limited (NGX) has added another financial instrument to its trading platform with the listing of the AVA Infrastructure Series 1 Fund.
Valued at N4.08 billion, this closed-end fund is a step towards addressing Nigeria’s infrastructure gaps.
The AVA Infrastructure Series 1 Fund, comprising 4,075 units, debuted on the Main Board of the NGX at a unit price of N1 million.
As a naira-denominated unit trust scheme, it presents investors with an opportunity to participate in strategic investments aimed at bolstering the country’s infrastructure sectors.
This listing, facilitated by AVA Global Asset Managers Limited, signifies a concerted effort to channel institutional capital into critical infrastructure projects.
With Nigeria facing persistent challenges in areas like power, telecommunications, and agribusiness infrastructure, the fund’s objective is to provide debt financing to support such ventures.
Efe Shaire, Managing Director of AVA Global Asset Managers, highlighted the fund’s mission to strategically allocate private financing to projects that promise stable cash flows and long-term viability.
By focusing on initiatives vital to economic and social development, the fund aims to deliver consistent and reliable income to its unit holders.
The AVA Infrastructure Series 1 Fund is part of a broader initiative to encourage innovation and investment in key sectors. It seeks to support projects that offer essential services and contribute to sustainable economic growth.
This listing comes after AVA Global Asset Managers received approval from the Securities and Exchange Commission earlier in the year for a N200 billion AVA Infrastructure Fund Programme. The successful debut of the AVA Infrastructure Series 1 Fund on the NGX platform underscores the growing interest in infrastructure investment and the potential for private capital to address Nigeria’s pressing development needs.
Investors now have the opportunity to participate in this landmark initiative, contributing to the country’s infrastructure development while potentially earning attractive returns on their investment. As Nigeria continues to prioritize infrastructure improvement, funds like AVA Infrastructure Series 1 play a crucial role in driving progress and fostering economic resilience.