COVID-19: Afrinvest floats $2m dollar fund to help investors diversify portfolio

By Peter Egwuatu

SEC, Securities and Exchange Commission
SEC

As part of the initiatives to curtail the effect of the Coronavirus (COVID-19) pandemic on investors, Afrinvest Asset Management Limited has floated a $2million Afrinvest Dollar Fund, a flexible solution that allow investors to diversify their portfolio of investment.

The Afrinvest Dollar Fund is an open-ended mutual fund approved by the Securities and Exchange Commission (SEC) and it provides an opportunity for individuals and institutional investors to diversify their portfolio and hedge against currency fluctuations.

The $2million Fund is offering 20,000 units at $100 per unit. The initial minimum investment amount is $1,000.

READ ALSOBREAKING: 67-year-old American woman slumps, dies in Delta hotel

Afrinvest Dollar Fund is expected to give returns between 6 percent and 7.5 percent which is higher than returns on a normal domiciliary account.
Afrinvest Dollar Fund provides investor the opportunity to hedge against any possible devaluation.

Speaking on the objective of the Fund, Ola Belgore, Managing Director, Afrinvest Asset Management Limited, said, “The Afrinvest Dollar Fund was created to help investors achieve income generation, capital preservation and portfolio diversification in the short to medium term. It is designed to deliver significantly higher returns than the average domiciliary account and dividend will be paid twice a year.

The Afrinvest Dollar Fund offers investors access to Dollar-denominated securities floated by Nigerian Sovereigns, Supranational entities and Corporates as may be determined by the Fund Manager. The Fund is flexible as there is free entry and exit for investors subject to the prevailing Fund price.

On the impact of the Fund, Belgore said, “Members of the general public who have future Dollar obligations like health tourism, education fees and vacations can use the Fund to save towards their goals. The low initial investment amount means more investors can diversify their portfolios and benefit from our years of experience. The launch of this Fund illustrates quite well the mantra of Afrinvest which is simplifying investments, creating wealth”.

The post COVID-19: Afrinvest floats $2m dollar fund to help investors diversify portfolio appeared first on Vanguard News.

Source: COVID-19: Afrinvest floats m dollar fund to help investors diversify portfolio


Leave a Reply