Meristem Wealth Management floats N1b mutual fund
As part of its commitment to offer to investors in the nation’s capital market a well regulated asset, structured for investor protection, Meristem Wealth Management Limited floats Money Market and Equity Market Mutual Fund of N500 million each.
Meristem Wealth Management Limited is a wholly owned subsidiary of Meristem Securities Limited
The Fund Manager is offering 50,000,000 million units of N10 each in both the Money Market Fund and Equity Market Fund for public subscription with minimum subscription of 1,000 units and multiples of 100 units thereafter.
The Offers which opened on July 15, 2015 was supposed to close on August 21, 2015 will now close on Tuesday, August 25, 2015. This is as a result of the Muslim holidays in July.
Speaking at a press briefing in Lagos yesterday, the Managing Director, Meristem Wealth Management, Sulaiman Adedokun explained that with these mutual funds, investors in the nation’s capital market would have the opportunity to own quality assets in a diversified portfolio with steady returns on investment.
“We want to launch this fund at a time when confidence is returning in the market. It would provide opportunity for risk taking investors to tap into it for long term growth.”
He explained that the Meristem Money Market Fund is an open ended mutual fund designed for investors who are interested in a steady flow of income at money market rates while preserving the value of their investment, while the Meristem Equity Market Fund is for investors who have a long term investment perspective.