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Description

FCMB Asset Management’s Foreign Currency ETFs service offers investors the opportunity to diversify their portfolios across markets and currencies. The ETFs are passively managed and aim to replicate the returns on specific indices. The service is targeted at both individual and institutional investors, particularly Ultra-High & High Networth Individuals and Charities. Investments are received and made in either US Dollar, for the Dollar-based ETF, or Great British Pound, for the Pound-based ETF.

Features

  • Base currencies: US Dollar and Great British Pound 
  • Benchmark: Tracked index
  • Minimum subscription: US$500,000 or £300,000
  • Minimum additional purchase: US$100,000 or £50,000

FCMB Asset Management provides trust services through our fellow subsidiary, FCMB Trustees.

Product Description

Legacy Debt Fund (LDF) is an open-ended mutual fund that invests in Money Market Instruments and short maturity bonds. It was acquired, and restructured in July 2015. It is benchmarked against a composite of 50% return on 3-month Federal Government of Nigeria Treasury bill plus 50% return on 3-year Federal Government of Nigeria bond. The Fund is targeted at both retail and institutional investors. The LDF seeks to preserve capital and generate stable income. In addition, the Fund aims to provide liquidity and diversification benefits. The Fund is rated A+(f) by Agusto & Company.

Features

  • Product currency: Nigerian Naira (NGN)
  • Country of domicile: Nigeria
  • Fund Objective: To preserve capital and generate stable income
  • Fund rating: A+(f) by Agusto & Co
  • Benchmark: 50% return on 3-month FGN T-bill + 50% return on 3-year FGN Bond
  • Minimum credit-risk rating of instruments in the Fund: A3 (Short-term) and BBB- (Long-term)
  • Currency risk: Zero
  • Minimum initial subscription: 25,000 units (at prevailing market price per unit
  • Minimum additional purchase: 5000 units (at prevailing market price per unit)
  • Minimum Investment period: 6 months
  • Entry / Exit fee: Nil / 25% of gain on capital, if within 6 months
  • Settlement / Redemption: 5 working days

Mechanics

The Fund is a relatively low-risk mutual fund and can invest up to 60% of the portfolio in Nigerian Government Treasury bills or Nigerian Government Bonds of up to 5 years. Liquidity is guaranteed, as the Fund Manager provides daily bid and offer prices. In addition, the asset allocation strategy of the Fund ensures that the Fund is diversified.

 
  Currency and Asset Allocation Ranges Target Asset Allocation
  NGN NGN
Currency Exposure 100% 100%
Cash 0 - 100% 2%
Treasury Bills 0 - 60% 53%
Fixed deposits, Commercial Papers, Bankers Acceptances & other MMIs 0 - 50% 5%
Federal Government Bonds 0 - 60% 40%
State and Local Government Bonds 0 - 40% 0%
Government Guaranteed & Agency Bonds 0 - 40% 0%
Supranational Bonds 0 - 40% 0%
Corporate Bonds 0 - 40% 0%

 

Benefits

  • Skilled and professional fund management
  • Opportunity for capital protection and stable income
  • Excellent means of ensuring liquidity
  • Convenient way of saving towards short, medium or long term goals
  • Proceeds to investors, at the point of exiting the Fund, are tax free
  • The Fund has zero currency risk, as inflows and investment of funds are made solely in Nigerian Naira
  • Investments by the Fund will only be made in instruments with a minimum rating of A3 (short-term) and BBB- (long-term)
  • Unit holders receive monthly Performance

 

History of Dividend Payment
FUND-YEAR ENDED DIVIDEND PAID DIVIDEND YIELD
30-06-2017 11 Kobo 4.48%

 

Trading /Settlement

Trading and Settlement is done by both CSL Stockbrokers and FCMB Ltd (our Group’s banking subsidiary), in order to provide best execution.

Decision making process

An investment committee meeting is 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

 

At FCMB Asset Management, we believe that just as you would like nothing short of the best and most experienced doctors taking care of your health, so also, you deserve to have the best financial minds taking care of your finances.

 

What is your top financial priority? Planning your future, growing your wealth or just focusing on an effective transfer of your wealth? What is your hope for the future? A secure retirement, college tuition for your children, a dream vacation home or just the confidence that comes with having your financial assets in safe hands? We possess the tools and expertise to help you achieve these. Our experience with financial management and the rigor with which we evaluate every investment makes us credible.

 

The FCMB Asset Management Wealth Management Feedback Loop

Who for?

  • Individuals & Families
  • Entrepreneurs
  • Executives
  • Charities

 

What are your goals?

All our activities revolve around you. We are meticulous in our approach to understanding goals and seek to first understand your specific objectives.

 

What investment solutions can help you achieve your goals?

  • Separately Managed Discretionary Accounts
  • Investment Advisory
  • Execution-only
  • Structured Products (Local And Foreign Currencies)
  • FCMB Asset Management Mutual Funds
  • Trust services, in collaboration with CSL Trustees

 

Are you Satisfied?

 

 

 

Past performance is not a reliable indicator of future returns, the value of investments may fall as well as rise, and investors may not get back the original amount invested.

Product Description

Legacy Equity Fund (LEF) is an open-ended mutual fund that is benchmarked against the performance of the Nigerian Stock Exchange All Share Index (NSE Index) and targeted at both retail and institutional investors. It seeks to outperform the return on the index over economic cycles as well as achieving capital appreciation and generating stable income (dividends). This is equivalent to a medium-to-long term investment outlook.

Features

  • Product currency: Nigerian Naira (NGN)
  • Country of domicile: Nigeria
  • Fund Objective: To achieve capital appreciation and generate stable income (dividend) over the medium-to-long term
  • Currency risk: Zero
  • Minimum initial subscription: 10,000 units (at prevailing market price per unit)
  • Minimum additional purchase: 1000 units (at prevailing market price per unit)
  • Minimum Investment period: 3 months
  • Entry / Exit fee: Nil / 2% of proceeds, if within 3 months
  • Settlement / Redemption: 5 working days

Mechanics

The Fund is predominantly an equity-based Fund, with a minimum allocation of 60% to equities listed on the Nigerian Stock Exchange. Legacy Equity Fund seeks to outperform its benchmark, the Nigerian Stock Exchange All-share index, by investing in well researched, relatively low beta, highly liquid, high and consistent dividend paying stocks, as well as in Money Market Instruments, Fixed Income securities, and Real Estate Investment Trusts (REITs), to create a Fund that is diversified across securities and asset classes.

 
  Currency and Asset Allocation Ranges Target Asset Allocation
  NGN NGN
Currency Exposure 100% 100%
Money Market Instruments 0 - 40% 10%
Fixed Income Securities 0 - 40% 5%
Equities 60 - 100% 85%
Asset Backed and Mortgage Backed Securities & REITs 0 - 10% 0%

 

Benefits

  • Skilled and professional fund management
  • Opportunity for capital growth and stable income
  • Excellent means of ensuring liquidity
  • Convenient way of saving towards medium or long term goals
  • Proceeds to investors, at the point of exiting the Fund, are tax free
  • The Fund has zero currency risk, as inflows and investment of funds are made solely in Nigerian Naira
  • Unit holders receive monthly Performance
History of Dividend Payment
FUND-YEAR ENDED DIVIDEND PAID DIVIDEND YIELD
30-06-2006 1.85 Kobo 1.85%
30-06-2007 8 Kobo 10.26%
30-06-2008 5.38 Kobo 3.32%
30-06-2013 8 Kobo 10.13%
30-06-2014 8.7 Kobo 6.54%
30-06-2017 12 Kobo 12.38%

 

Trading/Settlement

Trading and settlement of securities is done by CSL Stockbrokers in order to provide best execution

Decision making process

An investment committee meeting is 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 manager on how best to invest the assets of the clients that sign up for this product.

 

Click to download the Subscription Form

Click to download the Fact Sheets

 

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