Investors in the nation’s capital market now have the opportunity to own quality assets in a diversified portfolio with steady returns on investment, as Meristem Wealth Management Limited floats money market and equity market mutual fund of N500 million each.
Meristem Wealth Management Limited is a wholly owned subsidiary of Meristem Securities Limited
The Fund Manager is offering 50,000,000 million units of N10 each in both the money market fund and Equity Market Fund for public subscription with minimum subscription of 1,000 units and multiples of 100 units thereafter.
The offers which opened on July 15, 2015 was supposed to close on August 21, 2015 will now close on Tuesday, August 25, 2015. This is as a result of the Muslim holidays in July. Speaking on the offers, , Sulaiman Adedokun, managing director, Meristem Wealth Management, said “The Meristem money market fund which we are offering to the investing public is an open ended mutual fund designed for investors who are interested in a steady stream of income at money market rates while preserving the value of their investment, while the Meristem equity market fund is aimed at investors who have a long term investment perspective”.
He added that the money market fund’s objective is to seek current income and stability of principal by investing in a select portfolio of short term money market securities, while the equity market fund’s objective is to seek long term capital appreciation through investment in equity securities with a focus on a portfolio of stocks listed on the floor of the Nigerian Stock Exchange.
Adedokun explained that the equity market fund is for all classes of investors that are willing to take more risk for returns on investment while the money market fund is also ideal for all classes of investors that value liquidity and security of assets.
Speaking in the same vein, Taiwo Yusuf, Portfolio Manager with the Fund Manager, said investors should take advantage of the funds and secure their future.
“People should save and have investment for the rainy day and people should have investments that are safe. The Meristem Money Market Fund and Meristem Equity Market Fund present you an opportunity to have a very safe investment because they are diversified across asset classes.
The Managing Director further assured investors of the safety of the fund given the experience of the Fund Manager and other parties to the offers. “We have gone out of our way to make sure that the parties to this fund are very experienced such that they will give that necessary protection to investors who come into these funds”, he said.
HOPE MOSES-ASHIKE
