FBN money market fund reaches N20billion

In less than two years after its launch, the FBN Money Mar¬ket Fund now has over N20 billion in as¬sets under management (AUM).

The Fund, managed by FBN Capital Asset Management, is an open ended mutual fund that invests in a broad range of money market securi¬ties such as Treasury Bills and Commercial Papers, and aims to offer a high level of security coupled with a competitive yield.

Based on the figure reported as at March6, 2014, the Fund is currently yielding 11.69percent, which is much higher returns than customers would receive in a regular sav¬ings account. The Fund is also rated Aa (f) by Agusto and Co because it has minimal to low risk of investment loss due to low net asset val¬ue volatility.

Michael Oyebola, managing director and head of FBN Capital As¬set Management said, “since the FBN Money Market Fund launched at N1.5 billion in Septembe 2012 and we have wit¬nessed the Fund grow exponentially over the past 18 months both in terms of performance and AUM. The Fund has also consistently paid a dividend to unit holders quarterly in March, June, September and Decem¬ber every year”.

He added: “Invest¬ing in the fund is easy and open to everyone. Interested individuals can visit any First Bank branch nationwide or visit FBN Capital Asset Management at their of¬fices located in Lagos, Abuja and Port Harcourt to subscribe.”

FBN Capital Asset Management Limited is the Asset Management company of the FBN Cap¬ital Group (a subsidiary of FBN Holdings Plc).

The FBN Money Mar¬ket Fund is managed by a team of professional and qualified Fund Manag¬ers who have years of experience. The Fund is suitable for savers and in¬vestors who are looking to enhance the returns on their money and in¬vestments start as low as N5,000.