Afrinvest Launches Dollar Fund to Help Investors Diversify their Portfolio
Lagos, Nigeria: Afrinvest Asset Management Ltd – 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 initial minimum investment amount is $1,000. The Afrinvest Dollar Fund is an open-ended mutual fund approved by the Securities and Exchange Commission (SEC) and it provides an opportunity for individual and institutional investors to diversify their portfolio and hedge against currency fluctuations. The $2m Fund is offering 20,000 units at $100 per unit. Speaking of the objective of the Fund, Ola Belgore, Managing Director, Afrinvest Asset Management Limited said, “The Afrinvest Dollar Fund was created to help investors achieve income generation, capital preservation and portfolio diversification in the short to medium term. It is designed to deliver significantly higher returns than the average domiciliary account and the 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”. For more information on the Afrinvest Plutus Fund, click http://bit.ly/AfrinvestDollarFund. Afrinvest Asset Management Limited (“AAML”) is licensed by the Securities and Exchange Commission (SEC), Nigeria as a portfolio manager. AAML delivers world-class asset management services to a wide range of clients. AAML is the Fund Manager of three mutual funds listed on the NSE, the Nigerian International Debt Fund, Afrinvest Equity Fund and Afrinvest Plutus Fund.