FBN Capital, a Nigerian wealth manager has rolled out two investment funds, the FBN Money Market Fund and FBN Fixed Income Fund, with an expectation to yield good result in economic turmoil.
FBN Capital, the Investment and Asset Management business of the FirstBank Group said that the fund has been designed to provide definite needs of retail and institutional clients in Nigeria, and offers investors a platform for diversifying and growing their investments for optimal returns.
The FBN Money Market Fund is an open-ended mutual fund, which has a minimum investment cap of N5,000.
The fund will invest in low-risk securities, and pay out returns that reflect short term interest rates, thus ensure income payment on a quarterly basis to its investors, said the firm.
The FBN Capital Fixed Income requires a minimum amount of N100,000, which will pay income on a semi-annual basis, hold a variety of government and corporate debt obligations and other money market instruments.
FBN Capital MD/CEO Kayode Akinkugbe said, "The launch of both funds simultaneously by FBN Capital is in line with the strategic objectives of the business as well as the regulators, to deepen the market by offering collective investment products on a broad platform".
FBN Capital provides investment banking, asset management, markets, and principal investing/private equity, and has advised on landmark transactions across several sectors of the economy.