By Alex C
FBN money market fund has over N20 billion in assets less than two years since its launch. The Fund, which is managed by FBN Capital Asset Management, is an open ended mutual fund that invests in a broad spectrum of money market securities such as treasury bills and commercial Papers.
The fund also offers a high level of security coupled with a competitive yield. Based on the figure at the 6th of March, 2014, the fund is currently yielding 11.69 percent, which is much higher returns than customers would receive in a regular savings account. The Fund is currently rated Aa(f) by Agusto and Co. due to its minimal low risk of investment loss as a result of low net asset value volatility.
Mr. Michael Oyebola, managing director and Head, FBN Capital Asset Management said that FBN Money Market Fund launched at N1.5 billion in September 2012 has witnessed tremendous growth over the last 18 months both in terms of performance and AUM. Mr Oyebola noted that the Fund has also consistently paid a dividend to unit holders quarterly in March, June, September and December annually.
FBN Capital Asset Management Limited is the Asset Management company of the FBN Capital Group (a subsidiary of FBN Holdings Plc. The firm was recently recognised as Best Investment Bank in Nigeria for the third year running by Global Finance Magazine.
In 2013, FBN Capital Asset Management Limited was named in the World Finance Banking Awards as the Best Investment Bank in Nigeria and EMEA Finance African Banking Awards as the Best Local Investment Bank.
Managed by a team of fund managers, the fund is suitable for savers and investors seeking to enhance the returns on their money and investments start as low as N5,000 at their offices located in Lagos, Abuja and Port Harcourt.
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