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MARKET NEWS
Meristem Wealth Mgt Boss Calls for Efficient Distribution of ETFs Goddy Egene The Managing Director, Meristem Wealth Management Limited, Mr. Sulaiman Adedokun has urged capital market operators to introduce an industry-wide platform for the distribution of Exchange Traded Funds (ETF), saying this will help reduce cost and achieve economies of scale. Adedokun stated this while speaking at the Exchange Traded Products Conference for 2018 organised by the Nigerian
Stock Exchange (NSE) in Lagos. According to him, ETFs are veritable instruments for retail and institution investors, emphasizing that the driver of ETF should be returns on investment, which will require that there is a rebalance in index for proper spread. “To develop ETF, means developing index that mirrors strategy and philosophy, beyond returns on investment to enable it attract required interest,� Adedokun said. Generally, experts, who spoke
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
at the conference said that lack of investor education accounts for why Nigeria’s ETF has remained undeveloped with only nine issues to date, and valued at $15 million, compared to their South Africa counterparts with very large portfolios. During a panel discussion chaired by Executive Director, Vetiva Capital Management, Damilola Ajayi, the panelists agreed that there was need for investor education and distribution channel that should be simple and connect to 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 1212-2018, unless otherwise stated.
target audience. Executive Director, Stanbic IBTC Asset Management, Shuaib Audu, said there is need to create market framework to help drive ETFs and called for regulatory framework to make ETFs open to insurance companies and pension fund administrators (PFAs). He also suggested that securitised lending should be extended to ETF, to stimulate activities in the ETF segment of the market. In his submission, Managing
Director, Greenwich Asset Management, Dayo Obisan, said there is the need for investor education, emphasizing on the need to create products that meet the needs of investors. Obisan, who is also the President of Fund Managers Association of Nigeria (FMAN) identified the need for low cost products, and supporting also an industry wide platform for distribution. Head, Investment & Research at Lotus Capital, Ndako Minjidad, said investor
education should take a different perspective, if possible the message should be passed in local languages. He also said that investor education should be independent, calling on the regulator to take up the role and drive the awareness about ETF. “There should be sponsored researches, more conferences and strategic engagement with institutional investors, all of these he said were critical to deepening penetration,� Minjidad 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.
DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 1 270 1680 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund N/A N/A N/A Afrinvest Plutus Fund N/A N/A N/A Nigeria International Debt Fund N/A N/A N/A ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 0.83 0.84 0.69% ACAP Income Funds 0.63 0.63 6.98% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 12.70% AIICO Balanced Fund 2.21 2.23 -3.78% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund N/A N/A N/A ARM Discovery Fund N/A N/A N/A ARM Ethical Fund N/A N/A N/A ARM Money Market Fund N/A N/A N/A AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 130.25 131.16 -14.14% AXA Mansard Money Market Fund 1.00 1.00 12.36% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund N/A N/A N/A Paramount Equity Fund N/A N/A N/A Women's Investment Fund N/A N/A N/A CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 12.47% Cordros Milestone Fund 2023 94.69 94.87 Cordros Milestone Fund 2028 98.45 98.84 CORONATION ASSEST MANAGEMENT investment@coronationam.com Web:www.coronationam.com , Tel: 012366215 Fund Name Bid Price Offer Price Yield / T-Rtn Coronation Money Market Fund 1.00 1.00 12.41% Coronation Balanced Fund 0.84 0.84 Coronation Fixed Income Fund 1.16 1.16 10.59% EDC FUNDS MANAGEMENT LIMITED mutualfundng@ecobank.com Web: www.ecobank.com Tel: 012265281 Fund Name Bid Price Offer Price Yield / T-Rtn EDC Nigeria Money Market Fund Class A 100.00 100.00 12.09% EDC Nigeria Money Market Fund Class B 1,000,000.00 1,000,000.00 11.28% FBNQUEST ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com/asset-management; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,172.65 1,173.41 11.74% FBN Heritage Fund 140.35 141.54 0.63% FBN Money Market Fund 100.00 100.00 13.49% FBN Nigeria Eurobond (USD) Fund - Institutional $112.71 $113.10 3.53% FBN Nigeria Eurobond (USD) Fund - Retail $112.43 $112.82 3.38% FBN Nigeria Smart Beta Equity Fund 143.78 145.80 -9.37% FIRST CITY ASSET MANAGEMENT LTD fcamhelpdesk@fcmb.com Web: www.fcamltd.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Equity Fund 1.20 1.22 -6.99% Legacy Debt Fund 3.23 3.23 11.60% Legacy USD Bond Fund 1.03 1.03 2.71% 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-Rtn Coral Growth Fund 2,943.92 2,972.51 -1.40% Coral Income Fund 2,744.91 2,744.91 12.12% GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 7.98% Nigeria Entertainment Fund 106.07 106.46 5.98% INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 100.00 100.00 11.90%
Vantage Balanced Fund 2.14 2.16 1.50% Vantage Guaranteed Income Fund 1.00 1.00 15.44% Kedari Investment Fund (KIF) 123.90 124.08 7.64% LOTUS CAPITAL LTD ďŹ ncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.19 1.22 4.27% Lotus Halal Fixed Income Fund 1,092.07 1,092.07 13.04% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 11.07 11.16 -14.44% Meristem Money Market Fund 10.00 10.00 11.44% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.33 1.35 11.46% PACAM Fixed Income Fund 12.15 12.21 10.05% PACAM Money Market Fund 10.00 10.00 12.64% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 127.66 128.08 -1.58% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.69 1.69 14.13% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 2,293.90 2,308.58 4.39% Stanbic IBTC Bond Fund 188.45 188.45 8.22% Stanbic IBTC Ethical Fund 0.94 0.95 -6.44% Stanbic IBTC Guaranteed Investment Fund 245.90 245.94 13.93% Stanbic IBTC Iman Fund 159.48 161.32 -10.94% Stanbic IBTC Money Market Fund 100.00 100.00 11.94% Stanbic IBTC Nigerian Equity Fund 8,371.73 8,473.41 -11.95% Stanbic IBTC Dollar Fund (USD) 1.10 1.10 6.97% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.17 1.18 -1.34% United Capital Bond Fund 1.58 1.58 10.39% United Capital Equity Fund 0.70 0.71 -7.90% United Capital Money Market Fund 1.00 1.00 12.65% United Capital Eurobond Fund 106.76 106.76 6.67% United Capital Wealth for Women Fund 1.08 1.08 3.73% ZENITH ASSETS MANAGEMENT LTD info@zenith-funds.com Web: www.zenith-funds.com; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 11.08 11.23 -8.43% Zenith Ethical Fund 12.09 12.20 -5.89% Zenith Income Fund 20.66 20.66 11.93% Zenith Money Market Fund 1.00 1.00 12.37%
REITS NAV Per Share
Yield / T-Rtn
9.00 139.56 51.67
-20.11% 5.36% 1.65%
Bid Price
Offer Price
Yield / T-Rtn
10.19 114.58 87.06
10.29 117.00 88.69
-13.91% -19.79% -20.31%
Fund Name FSDH UPDC Real Estate Investment Fund SFS Skye Shelter Fund Union Homes REIT
EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund
VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva GrifďŹ n 30 Exchange Traded Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund
funds@vetiva.com Bid Price
Offer Price
Yield / T-Rtn
3.98 7.16 14.41 12.21 141.19
4.02 7.24 14.51 12.41 143.19
-16.02% -25.07% -17.39% -37.75% 5.09%
NAV Per Share
Yield / T-Rtn
107.13
17.03%
SPECIALIST FUNDS Fund Name Chapel Hill Denham Nigeria Infrastructure Debt Fund
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.