Access Bank PLC

FBN Money Market Fund Reaches N54billion

First Bank Nigeria

 Over 3 years after launching at N1.5bn, the FBN Money Market Fund now has over N54 billion in assets under management (AUM). The Fund, managed by FBN Capital Asset Management, (operating under the brand name FBNQuest) is a SEC-registered open ended mutual fund that invests in a broad range of money market securities such as treasury bills, commercial papers, fixed deposits and aims to offer a high level of security coupled with a competitive yield.

Based on the figure reported as at the 29th October, 2015, the Fund is currently yielding 12.39%, which are much higher returns than customers would receive in a regular savings account. The Fund is also rated Aa(f) by Agusto and Co. because it has minimal to low risk of investment loss due to low net asset value volatility.

Commenting on the milestone achieved, Michael Oyebola, the Managing Director and Chief Investment Officer of FBN Capital Asset Management, said “There is a growing recognition among large and small investors and savers nationwide that there is a credible and worthwhile alternative to saving their hard-earned money and earning returns that some thought were exclusive to the more affluent. He further stated, ‘Everyday, more and more investors and savers, both local and international, across retail, affluent, HNI and Institutional Investors, move their savings and investible funds to the FBN Money Market Fund, as we have delivered consistent returns since inception”.

The FBN Money Market Fund is a short-to-medium term investment solution that provides stability, liquidity and income on a quarterly basis to unit holders. The Fund typically offers higher interest rates when compared to the rates on a normal bank savings accounts, and investors can invest with as little as N5,000.

FBN Capital Asset Management offers a broad range of investment products and services aimed at assisting individuals to adequately provide for their future through financial planning and investing. Its other mutual funds include the FBN Fixed Income Fund and the FBN Heritage Fund and in December 2014, the firm was awarded the best Asset Manager in Nigeria at the EMEA Finance African Banking Awards.


Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button