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Taking Advantage of Managed Funds in Nigeria (2)Goddy Egene

Investing in mutual funds takes care of one major challenge that faces most beginners in securities investment, which is making the right choice of securities. Having seen and be made to believe in the good profit that come from investing in stock market, most investors expect to make such profit immediately they invest. They believe that buying just one or two stocks will lead

to the high profit they had in mind while coming to invest in the stock market. And when the one or two stocks they have bought fail to fetch the returns they expected, they get disappointed and discouraged to invest in the market.

However, what a beginner or in fact, every investor needs to overcome such disappointment are mutual funds. These managed funds are one major vehicle to invest in stock and get it right

from the beginning, thereby avoiding disappointments.

Normally, to avoid disappointment or reduce risks it is better to have an investment portfolio that is highly diversified, consisting of securities spread across the market. This strategy will create a portfolio that will reduce risk and guarantee the level of returns needed to transform investments into significant wealth on the long run.

Apart from the fact small

investors lack the financial   capacity required for standard portfolio diversification, it requires the   involvement of experts in deciding what to buy and when to buy or sell. Hence managed funds    are the solution because they have some advantages.

The first major advantage that managed funds provide is the management of investment risk. The best way of managing risk in investment is to spread it by diversifying the portfolio.

Investment in mutual funds gets instant diversification to achieve market-wide coverage and no matter its size. Since a mutual fund is a collection of stocks, bonds and money market securities held in a pool but then sliced into units sold to individual investors, any unit of the fund receives the diversification benefit of this large collection of different types of securities in the portfolio.

Secondly, investing

through mutual funds, gives an investor access  to professional skills employed to invest and manage the funds.   Small investors or beginners and even some high net-worth investors do not  have the skills to analyse the prospects for individual companies and  make a good choice   present the best investment options.   But a mutual fund appoints and pays a professional fund manager to do this job for its investors.

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

M U T U A L F U N D S / U N I T T R U S T SAFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.comWeb: www.afrinvest.com; Tel: +234 1 270 1680Fund Name Bid Price Offer Price Yield / T-RtnAfrinvest Equity Fund 125.93 126.44 12.66%Nigeria International Debt Fund 215.43 216.11 7.60%ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.comWeb: www.altcappartners.com, Tel: +234 1 291 2406, +234 1 291 2868Fund Name Bid Price Offer Price Yield / T-RtnACAP Canary Growth Fund 0.67 0.68 9.59%

AIICO CAPITAL LTD ammf@aiicocapital.comWeb: www.aiicocapital.com, Tel: +234-1-279 2930 Ext-2205Fund Name Bid Price Offer Price Yield / T-Rtn

AIICO Money Market Fund 100.00 100.00 11.34%

ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.comWeb: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276)Fund Name Bid Price Offer Price Yield / T-RtnARM Aggressive Growth Fund 12.89 13.27 5.74%ARM Discovery Fund 294.71 303.59 5.44%ARM Ethical Fund 22.80 23.48 3.39%

ARM Money Market Fund 1.00 1.00 11.55%

AXA MANSARD INVESTMENTS LIMITED info@axamansard.comWeb: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-RtnAXA Mansard Equity Market Fund 101.35 101.99 1.67%

AXA Mansard Money Market Fund 1.00 1.00 10.73%

CHAPELHILL DENHAM LTD investmentmanagement@chapelhilldenham.comWeb: www.chapelhilldenham.com, Tel: +234 461 0691Fund Name Bid Price Offer Price Yield / T-RtnNigeria Global Investment Fund 2.08 2.13 2.18%Paramount Equity Fund 9.41 9.65 -4.51%

Women's Investment Fund 82.21 84.31 1.35%

FBN CAPITAL ASSET MANAGEMENT LTD invest@fbnquest.comWeb: www.fbnquest.com; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-RtnFBN Fixed Income Fund 1,103.45 1,104.52 1.97%FBN Heritage Fund 114.96 115.48 5.72%

FBN Money Market Fund 100.00 100.00 10.23%

FBN Nigeria Eurobond (USD) Fund - Institutional $105.00 $105.92 5.46%FBN Nigeria Eurobond (USD) Fund - Retail $104.95 $105.87 5.41%

FBN Nigeria Smart Beta Equity Fund 113.05 114.62 13.84%

FIRST CITY ASSET MANAGEMENT LTD fcamhelpdesk@fcmb.comWeb: www.fcamltd.com; Tel: +234 1 462 2596Fund Name Bid Price Offer Price Yield / T-RtnLegacy Equity Fund 0.95 0.97 5.49%

Legacy Short Maturity (NGN) Fund 2.49 2.49 7.06%

FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-RtnCoral Growth Fund 2,241.42 2,269.79 3.08%

Coral Income Fund 2,023.96 2,023.96 7.01%

INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.comWeb: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888Fund Name Bid Price Offer Price Yield / T-Rtn

Vantage Guaranteed Income Fund 1.00 1.00 11.14%

Vantage Balanced Fund 1.64 1.66 0.64%

A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager. Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

floor of the Nigerian Stock Exchange.A REIT (Real Estate Investment Trust) is an

investment vehicle that allows both small and large investors to part-own real estate ventures (eg. Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.

GUIdE To dATA:date: All fund prices are quoted in Naira as at 23-Sep-2016, unless otherwise stated.

offer price: The price at which units of a trust or ETF are bought by investors.Bid Price: The price at which Investors redeem (sell) units of a trust or ETF.

Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.NAV: Is value per share of the real estate assets held by a REIT on a specific date.

LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624Fund Name Bid Price Offer Price Yield / T-RtnLotus Halal Investment Fund 1.00 1.02 12.37%Lotus Halal Fixed Income Fund 980.41 980.41 -1.96%MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com ; Tel: +234 1-4488260Fund Name Bid Price Offer Price Yield / T-RtnMeristem Equity Market Fund 10.05 10.13 2.69%Meristem Money Market Fund 10.00 10.00 12.69%PAC ASSET MANAGEMENT LTD info@pacassetmanagement.comWeb: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-RtnPACAM Balanced Fund 1.02 1.04 -2.81%SCM CAPITAL LIMITED info@scmcapitalng.comWeb: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-RtnSterling Capital Frontier Fund 107.56 108.57 5.71%SFS CAPITAL NIGERIA LTD investments@sfsnigeria.comWeb: www.sfsnigeria.com, Tel: +234 (01) 2801400Fund Name Bid Price Offer Price Yield / T-RtnSFS Fixed Income Fund 1.21 1.21 7.22%STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDSFund Name Bid Price Offer Price Yield / T-RtnStanbic IBTC Balanced Fund 1,812.79 1,824.18 7.97%Stanbic IBTC Bond Fund 150.63 150.63 2.41%Stanbic IBTC Ethical Fund 0.82 0.83 10.00%Stanbic IBTC Guaranteed Investment Fund 178.14 178.14 4.98%Stanbic IBTC Iman Fund 139.50 141.17 3.07%Stanbic IBTC Money Market Fund 100.00 100.00 14.13%Stanbic IBTC Nigerian Equity Fund 7,874.81 7,979.72 9.57%UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.comWeb: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887Fund Name Bid Price Offer Price Yield / T-RtnUnited Capital Balanced Fund 1.17 1.18 9.95%United Capital Bond Fund 1.26 1.26 17.04%United Capital Equity Fund 0.77 0.79 3.48%United Capital Money Market Fund 1.00 1.00 13.00%ZENITH ASSETS MANAGEMENT LTD info@zenith-funds.comWeb: www.zenith-funds.com; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-RtnZenith Equity Fund 9.96 10.14 4.26%Zenith Ethical Fund 11.46 11.58 0.01%Zenith Income Fund 16.38 16.38 2.11%

R E I T S Fund Name NAV Per Share Yield / T-RtnFSDH UPDC Real Estate Investment Fund 11.43 2.69%SFS Skye Shelter Fund 121.92 5.24%

E X C H A N G E T R A D E D F U N D SFund Name Bid Price Offer Price Yield / T-RtnLotus Halal Equity Exchange Traded Fund 9.18 9.28 -4.15%Stanbic IBTC ETF 30 Fund 80.33 81.85 -3.48%VETIVA FUND MANAGERS LTD funds@vetiva.comWeb: www.vetiva.com; Tel: +234 1 453 0697Fund Name Bid Price Offer Price Yield / T-RtnVetiva Banking Exchange Traded Fund 2.82 2.86 21.89%Vetiva Consumer Goods Exchange Traded Fund 7.31 7.39 14.31%Vetiva Griffin 30 Exchange Traded Fund 12.78 12.92 1.98%Vetiva Industrial Goods Exchange Traded Fund 18.33 18.53 -4.56%Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund - - -

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS

TH ISDAY • TuESDAY, SEpTEmbER 27, 2016 39