Kakawa asset management launches guaranteed income fund
February 21st, 2007 Ogbuotobo Chuks || chuks@stockmarketnigeria.com
By Ogbuotobo Chuks
The management of Kakawa Asset Management last week launched a money market product called Kakawa Guaranteed Income Fund.
The fund offers a minimum guaranteed return, which is equivalent to the five-year federal government bond. The fund presents investors with the assurance of a minimum guaranteed return.
The fund was approved by the Securities and Exchange Commission (SEC), in January 2007 for sale. According to the manager’s of the fund, subscribers stand to get 35 percent of the net income in addition to the guaranteed rate. The fund is also renewed twice a year.
The fund is invested 75 percent in fixed income assets and 25 percent in the equity market. The minimum initial investment is N50, 000 and in multiples of N5000 thereafter.
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