Nigeria’s Collective Investment Scheme now worth N1.512trn

The value of Nigeria’s Collective Investment Scheme (CIS) increased to N1.512 trillion as at week ended January 15, up from N1.509 trillion recorded as at January 8, recent data at the Securities and Exchange Commission (SEC) show.

The Investments and Securities Act (ISA) No. 29 of 2007 (Section 153) defines Collective Investment Scheme as “a scheme in whatever form, including an open-ended investment company, in pursuance of which members of the public are invited or permitted to invest money or other assets in a portfolio, and in terms of which: Two or more investors contribute money or other assets to and hold a participatory interest; The investors share the risk and benefit of investment in proportion to their participatory interest in a portfolio of a scheme or on any other basis determined in the deed, but not a collective investment scheme authorised by any other Act”.

Also, the capital market regulator’s data show that the value of Mutual Funds increased to N1.496 trillion in the review period, up from N1.493 trillion in the preceding week.

Breakdown of the constituents of the Mutual Funds as regulated by SEC shows that Equity-based Funds increased by N396 million to N15.501 billion from N15.105 billion; while Money Market Funds decreased by N10.427 billion to N720.747billion from N731.174 billion the preceding weekend.

Bond Funds increased to N225.813 billion from N222.595 billion week earlier; Fixed Income Funds value increased to N446.769 billion from N439.122 billion; Real Estate Funds also increased to N42.475 billion from preceding week’s low of N42.320 billion; Mixed Funds value advanced to N29.799 billion from N30.356 billion; while Ethical Funds stood higher at N14.539 billion from N13.059billion the preceding week.

The regulator’s data also show that Exchange Traded Fund (ETFs) value decreased to N16.303 billion from N16.567 billion the preceding week.