Following the impact of the coronavirus on markets, FBNQuest Asset Management has called investors to consider contrarian investing by taking advantage of the FBN Nigeria Eurobond (USD) Fund.
Contrarian investing is an investment strategy that involves purchasing and selling in contrast to prevailing sentiments of the time. This means an investor is buying assets when other market participants are selling.
Having a contrarian view does not necessarily mean having a negative view of the overall stock market, or believing it is overvalued. A contrarian simply seeks opportunities to buy or sell specific investments when the majority of investors appear to be doing the opposite.
Commenting on the Fund, Ike Onyia, Managing Director of FBNQuest Asset Management said the FBN Nigeria Eurobond (USD) Fund provides an opportunity for Nigerian investors to diversify their asset classes on their wealth-creation journey at this period.
According to him, it remains accessible to all categories of investors, offering the lowest minimum investment requirement currently at $2,500.
Onyia further added that the fund was Nigeria’s first dollar-denominated public fund, and it invests in a broad range of US Dollar-denominated debt securities issued by the Federal Government of Nigeria (FGN), and highly rated Corporate and Financial Institutions.