Here’s how Meristem money market, dollar, fixed income funds, others performed in February

Meristem Asset Management has released the February performance report of its money market fund, dollar fund, fixed income fund, growth exchange-traded fund, value exchanged traded fund and equity market fund.

According to the report, the average gross return of Meristem Dollar Fund rose to 9.75percent in February from 9.72percent in January. The Meristem Dollar Fund is authorised and registered in Nigeria as an Open-Ended Mutual Fund launched on December 11, 2023.

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The proceeds of the issue shall be invested in Investment grade sovereign and corporate Eurobonds, and other qualifying USD instruments issued by Nigerian entities as may be determined by the investment committee. The objective of the Fund is to provide opportunities for investors seeking long-term capital preservation, whilst providing liquidity and diversification.

The gross return of Meristem Money Market Fund went up to 12.74percent in February, from 12.24percent in January. The Meristem Money Market Fund aims to provide steady income to investors through short-term, high-quality money market instruments in Nigerian Naira while maintaining liquidity and stability of principal.

The fund targets capital preservation and aims to provide returns in line with interest rates of money market instruments, with a minimum required return of the average 91-day Treasury Bill yield. It is authorised by the SEC and managed at the discretion of the investment team, with earned interest distributed to the unitholder.

Also, the monthly return from Meristem Equity Market Fund Monthly was in negative of 6.43percent in February from a positive of 8.34percent in January. The Meristem Equity Market Fund (MEMF) is an actively managed, open-ended collective investment scheme which aims to achieve long-term capital appreciation for its unitholders through investment in equity securities listed on the Nigerian Exchange (NGX).

The Fund seeks to outperform its benchmark gross of fees by taking advantage of the economies of scale that accompany the pooling of funds while relying on its quality research capabilities to identify outperforming stocks to be held by the Fund.

The year-to-date (YTD) return of Meristem Value Exchange Traded Fund came lower at 4.61percent in February from a high of 10.54percent in January. The Meristem Value Exchange Traded Fund is an open-ended passively managed collective investment scheme consisting of a basket of value equity securities and designed to fully replicate the performance of selected benchmark indices.

The ETF seeks to offer unitholders exposure to extensively researched and carefully selected value stocks with profitable prospects. Return objectives are long-term capital appreciation and dividend earnings. Profits earned are distributed to qualified unit holders in accordance with set timelines.

For the Meristem Growth Exchange Traded Fund, its year-to-date (YtD) return is in negative of 15.90 percent, higher than a negative of 8.81percent in January. The Meristem Growth Exchange Traded Fund is an open-ended passively managed collective investment scheme consisting of a basket of growth equity securities and designed to fully replicate the performance of selected benchmark indices.

The ETF seeks to offer unitholders exposure to extensively researched and carefully selected growth stocks with profitable prospects. Return objectives are long-term capital appreciation and dividend earnings. Profits earned are distributed to qualified unit holders in accordance with set timelines.

The Average Gross Return of Meristem Fixed Income Fund increased to 15.07percent in February from 14.17percent in January. The Meristem Fixed Income Fund is Authorized and Registered in Nigeria as an Open-Ended Mutual Fund launched on November 1st, 2023. The proceeds of the issue shall be invested in naira-denominated Fixed Income instruments with a tenor of more than 365 days (FGN Bonds, Corporate Bonds, State Bonds) and short-term instruments as may be decided by the investment committee. The objective of the Fund is to provide long-term capital growth and regular income by investing in a diversified portfolio of fixed-income instruments.