FBN Capital floats first ever N5bn mutual fund
November 13th, 2007 Ogbuotobo Chuks || chuks@stockmarketnigeria.com
By Ogbuotobo Chuks
By Ogbuotobo ChuksThe capital market is likely to see FBN Capital Limited float its first ever mutual fund called the FBN Heritage Fund. The total offer value has been pegged at n5 billion.
This is comiing few weeks after the market saw two fund managers float new funds each, talking about ARM ltd and Union Trustees Ltd.
The fund is offering 50 million units to thye publiuc at N100 each at par and is scheduled to open between November 19, 2007 and December 28, 2007. As an open end fund that it is structured to be, there is no tendency of oversubscription.
According to sources,the fund is balanced in its assets allocation structure and would invest between 50- 65 per cent in quoted securities; 15-25 per cent in quality fixed income securities; 5-10 per cent in money market instruments and maximum of five per cent in real estate investments.
The issuing house to the offer is GT Banl Plc.
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PLEASE WHAT IS THIS ALL ABOUT? IS IT LIKE SHARES OR WHAT? SOMEONE SHOULD PLEASE EDUCATE ME ON THIS AND HOW TO INVEST IN THIS.
this is a mutual fund where funds are pooled fropm a lot of investors for the sole aim of investing. the funds are managed byb a funds manager who invests it in various instruments as they deem fit and then the profits at the end of specific periods are shared amongst shareholders based on the number of units purchased.
its more like an investment for people with low risk appetite in investment