United Capital Launches Two New Mutual Funds

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By Modupe Gbadeyanka

A leading investment banking group in Africa, United Capital Plc, has added two new funds to its Asset Management Mutual Funds portfolio.

The two new mutual funds unveiled by the company are the United Capital Nigerian Eurobond Fund and the United Capital Wealth for Women Fund.

United Capital Plc explained that the mutual funds aim to meet the diversified investment portfolio needs of indigenous and global clients and further solidify its position as a market leader in the African investment banking space.

The United Capital Nigerian Eurobond Fund, the firm stressed, is an open-ended mutual fund that will be invested in Dollar denominated Eurobonds, floated by the Federal Government of Nigeria, Nigerian top tier banks and other corporate Issuers whose securities are registered with the Securities and Exchange Commission (SEC).

It said subscribers can expect to receive competitive returns in the short to medium term by way of capital appreciation on their USD holdings invested in the Fund. Investors can start with a minimum of 10 units ($100 per unit price) and multiples of 5 units thereafter.

“Current economic challenges have altered investment interests in the market. We designed these new products specifically to suit the changing needs of our clients.

“We are excited to launch the United Capital Nigerian Eurobond Fund, as I believe if there was ever a best time for such a product that time would be now.

“Our Mutual Funds have consistently offered attractive dividend returns for investors and we expect our two new funds to follow suit,” stated Jude Chiemeka, MD, United Capital Asset Management.

The other newly launched Fund, the United Capital Wealth for Women Fund, aims to encourage women to imbibe a savings culture, provide an avenue for women to be financially independent and to create a sustainable foundation for women’s financial empowerment and development in Nigeria.

A maximum of 80 percent of the Fund’s assets will be invested primarily in Naira denominated fixed income and high yielding instruments and 20 percent will be invested in carefully selected quoted stocks from the Nigerian Stock Exchange (NSE).

The Fund will invest in businesses which have significant women representation in their management/board. Subscriptions start as low as N10,000 with multiples of N5,000 thereafter.

The fund is, however, open to male and female investors who appreciate its features and benefits.

Commenting on the Wealth for Women Fund, Group CEO, United Capital Plc, Oluwatoyin Sanni said, ‘It [Wealth for Women Fund] comes at a time when the cause of advancement of women is at the forefront of the Africa narrative.

“Several studies have demonstrated that businesses with significant participation by women on their Boards as well as businesses led by women often outperform their peers.

“United Capital is committed to empowering African women and in launching this fund, we have gone beyond just saying it to doing something to support this cause through this innovative product.”

Both funds opened for subscription on January 25, 2017, and will close on March 3, 2017.

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