Chinwendu Obienyi
Afrinvest Asset Management Limited, a subsidiary of Afrinvest (West Africa) Ltd has launched the Afrinvest Dollar Fund; a flexible solution for investors looking to add Dollar-denominated securities to their portfolio.
The Afrinvest Dollar Fund is an open-ended mutual fund approved by the Securities and Exchange Commission (SEC) and according to the firm, it provides an opportunity for individual and institutional investors to diversify their portfolio and hedge against currency fluctuations.
The initial minimum investment amount is $1,000 while the $2 million Fund is offering 20,000 units at $100 per unit.
Speaking of the objective of the Fund in Lagos recently, Ola Belgore, Managing Director, Afrinvest Asset Management Limited said, that the Afrinvest Dollar Fund was created to help investors achieve income generation, capital preservation and portfolio diversification in the short to medium term.
He said, “It is designed to deliver significantly higher returns than the average domiciliary account and dividend will be paid twice a year.
The Afrinvest Dollar Fund offers investors access to Dollar-denominated securities floated by Nigerian Sovereigns, Supranational entities and Corporates as may be determined by the Fund Manager. The Fund is flexible as there is free entry and exit for investors subject to the prevailing Fund price”.
On the impact of the Fund, Belgore said, “Members of the general public who have future Dollar obligations like health tourism, education fees and vacations can use the Fund to save towards their goals. The low initial investment amount means more investors can diversify their portfolios and benefit from our years of experience. The launch of this Fund illustrates quite well the mantra of Afrinvest which is simplifying investments, creating wealth”.isom