United Capital launches new mutual funds

United Capital Asset Management Ltd holds successful signing ceremony in Lagos for its two new Mutual Funds: The United Capital Nigerian Eurobond Fund and the United Capital Wealth for Women Fund. L-R Ikechukwu Omeruah, Head, Capital Market I, United Capital (Joint Issuing House); Jude Chiemeka, CEO, United Capital Asset Management; Oluwatoyin Sanni, Group CEO, United Capital Plc; Alex Osunde, Managing Director, Sewa Capital (Lead Issuing House); and Bunmi Arowosafe, Head, Custody Services, First City Monument Bank (Custodian)

United Capital Asset Management Ltd holds successful signing ceremony in Lagos for its two new Mutual Funds: The United Capital Nigerian Eurobond Fund and the United Capital Wealth for Women Fund. L-R Ikechukwu Omeruah, Head, Capital Market I, United Capital (Joint Issuing House); Jude Chiemeka, CEO, United Capital Asset Management; Oluwatoyin Sanni, Group CEO, United Capital Plc; Alex Osunde, Managing Director, Sewa Capital (Lead Issuing House); and Bunmi Arowosafe, Head, Custody Services, First City Monument Bank (Custodian)

In its desire to meet the diversified investment portfolio needs of indigenous and global clients, United Capital Plc has launched two new products. The additional products to its Asset Management Mutual Funds portfolio are the United Capital Nigerian Eurobond Fund and the United Capital Wealth for Women Fund.

The products were launched to consolidate United Capital’s position as a market leader in the African investment banking space. Both funds opened for subscription on January 25, 2017 and would close on March 3, 2017.

According to the Managing Director of United Capital Asset Management, Jude Chiemeka: “The current economic challenges have altered investment interests in the market.

We designed these new products specifically to suit the changing needs of our clients. “Our Mutual Funds have consistently offered attractive dividend returns for investors and we expect our two new funds to follow suit.”

He said the United Capital Nigerian Eurobond Fund is an open-ended mutual fund that would be invested in dollar denominated Eurobonds. He stated that the Federal Government, top tier banks and other corporate issuers, whose securities are registered with the Securities and Exchange Commission (SEC), floated the fund.

He explained that subscribers could expect to receive competitive returns in the short-to-medium term by way of capital appreciation on their USD holdings, which they invested in the Fund.

He added that investors could start with a minimum of 10 units (USD$100 per unit price) and multiples of five units thereafter. On the other hand, the United Capital Wealth for Women Fund was designed to encourage women to imbibe a saving culture, provide an avenue for women to be financially independent and create a sustainable foundation for their financial empowerment and development in the country.

Under the fund, a maximum of 80 per cent of the assets would be invested primarily in naira denominated fixed income and high yielding instruments. Also, 20 per cent will be invested in carefully selected quoted stocks from the Nigerian Stock Exchange.

The Chief Executive Officer of United Capital, Oluwatoyin Sanni, said the Wealth for Women Fund was launched at a time when the cause of advancement of women was at the forefront of the Africa narrative. The company stressed that subscriptions start with as low as N10,000 with multiples of N5,000 thereafter.

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