Cordros launches fixed income fund targeting retail investors 

Cordros Capital Limited has launched the ‘Cordros Fixed Income Fund’ targeting retail investors in its bid to bridge Nigeria’s financial inclusion gap. Cordros Fixed Income Fund, which is designed to generate income at moderate risk, opened for an initial subscription of N500 million of 5million units at N100 per unit.

According to the fund managers, the minimum investment for the fund is 25 units at N2500 and multiples of 10 units at N1000 thereafter.

“The Fund invests in medium tenured debt instruments of the Federal Government of Nigeria, States and highly rated corporate institutions. I want to highlight that the Fixed Income Fund is the fourth mutual fund type managed by Cordros Asset Management,” said Wale Agbeyangi, GMD, Cordros Capital Limited.

Agbeyangi added that the company previously launched the Cordros Money Market Fund, Cordros Milestone Fund, and Cordros Dollar Fund, which have all been offering good yields.

“The addition of the Fixed Income Fund opens new opportunities to all investors who want to enjoy the benefits of more diversification in managing their portfolio risk,” Agbeyangi said.

He posits that the market currently needs more varieties of investment vehicles, not only for the high net-worth but also for the retail investors who are able to take positions in mutual funds to earn passive income. “This need explains our delight in introducing this new Cordros Fixed Income Fund to our teeming clients and the investing public,” Agbeyangi said.

Gbolahan Aina, Managing Director, Cordros Asset Management, said the fund is targeted at both retail and institutional investors.

“The asset class is sovereign bonds (federal government bonds) and sub-national bonds (bonds issued by states), corporate, money market instruments among others,” Aina said.

According to Aina, the Cordros Fixed Income Fund is an open-ended fund that seeks to provide safety, liquidity, diversification and competitive return. The fund offers investors the opportunity to preserve their capital and earn returns on investments in the long term.