PAC Asset Management Limited (PACAM) is set to raise N1billion by offering for subscription 1billion units of PACAM Balanced Fund.
Each unit of PACAM Balanced Fund (an open ended mutual fund) will be offered at N1, with minimum subscription of 50,000 units and multiples of 10,000 units thereafter, payable in full on application.
The application list opens February 9, 2015 and closes March 18, 2015. Lead Capital plc is the lead issuing house while Pan African Capital plc is the joint issuing house to the offer.
David Okwuadigbo, managing director/chief executive officer, PAC Asset Management Limited, fund managers to the fund said “PACAM Balanced Fund which we are offering to investing public is an open ended mutual fund designed to achieve capital preservation, long term capital appreciation, steady and stable returns on investment (RoI)”.
Read also: Analysts say PACAM Balanced fund offers investors portfolio diversification
PACAM balanced fund offers investors an opportunity to own high quality assets held in a diversified portfolio with steady returns on investment, estimated at 13.328% in 2014; 16.02% in 2015; 15.86% in 2016; and 15.88% in 2017.
Okwuadigbo said at the completion board meeting of the balanced fund that, “the fund will invest in a balanced and diversified portfolio of high quality equities, real estate assets in Nigeria, government and other bonds of investment grade and money market instruments.”
PAC Asset Management Limited is a licensed funds/portfolio manager registered with the Securities and Exchange Commission (SEC) and a subsidiary of Pan African Capital plc, an investment banking group.
