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Product Description

Legacy USD Bond Fund is a Securities & Exchange Commission registered US Dollar denominated product, structured as a high-yield mutual fund that seeks to generate stable income over the long-term. The Fund will invest in credit-rated US Dollar denominated fixed income securities issued by the Nigerian government and corporate entities. The Offer to invest in the Fund opened on the 8th of January and will run until the 14th of February, 2018.

Features

  • Base currency: US Dollar (US$)
  • Minimum initial subscription: 5,000 units (at a launch price of US$1 per unit, so minimum is US$5,000)
  • Minimum additional purchase: 1,000 units at US$1 per unit
  • Minimum investment period: 6 months
  • Entry / Exit fee: Nil/ Penal charge of 2% of redemption proceeds if pre-liquidating before the minimum holding period of 6 months
  • Settlement / Redemption: 5 working days

Mechanics

The Fund will invest between 70 - 100% in Sovereign, Supranational and Corporate Bonds, anywhere between 0 - 30% in Money Market Instruments, and between 0-5% in cash.

Benefits

  • Skilled and professional fund management;
  • Opportunity for capital appreciation and stable income;
  • Excellent means of hedging against potential Naira depreciation;
  • Convenient way of saving towards medium-to-long term goals, including towards future foreign currency related expenditure, including tuition fees and property acquisition;
  • The Fund will have zero currency risk, as inflows and investment of funds will be solely in US Dollar;
  • Investments by the Fund will only be made in credit-rated fixed income instruments;
  • Liquidity is guaranteed, at the point of exiting the Fund;
  • Dividend income earned on investments will be paid in US Dollar;
  • Unit holders will receive monthly Performance reports;

Settlement

Settlement will be done in order to provide best execution

Decision making process

An investment committee meeting will be held at least once a quarter to determine the direction of the market and how to take advantage of emerging opportunities, which culminates in a house view. The decisions arrived at these meetings guide the Fund Manager on how best to invest the assets of unit holders in the Fund.

 

Click to download the Subscription Form

Click to download the Fact Sheets

 

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