If you’re thinking of using some funds to invest in mutual funds but are not quite sure how to begin or the institution through which you can explore the investment opportunities, you’re in the right place. We’ve shortlisted ten managers of mutual funds in Nigeria that have the skills, experience, and tools to manage your capital and invest it in the right financial assets.
1. FBN Capital Limited
If you are a regular saver with short to medium-term financial goals, FBN Money Market Fund is an ideal choice. This Money Market Fund is open-ended and hence invests in a broadly diversified portfolio of short-term, low risks and high-quality securities.
You can begin by investing a minimum of N5000 to enjoy high returns on your investment and other benefits such as strategic advice on how to manage your funds, add funds to your investment anytime or trade your securities.
2. United Capital Asset Management
United Capital Balanced Fund is also an open-ended mutual fund which offers its investors a diversified portfolio of securities. It requires an initial investment of N10,000 after which you can invest in multiples of 1000 naira only. It enables investments in equities and fixed-income instruments. Other features include:
- Memorandum listing on the Nigerian Stock Exchange
- Statutory reports to the Securities and Exchange Commission
- Separate accounting/auditing of the Fund
- Weekly valuation to determine the bid/offer price for Entry/Exit
- Redemption by managers between 1-5 days
- Lastly, the reinvestment of dividends at the unit holder’s discretion
3. Sterling Capital Market Limited
Basically, Sterling Capital Asset Management is one of the top mutual fund managers in Nigeria, and it currently manages two Funds, the Frontier Fund, which is listed by Memorandum and the Nigeria Energy Sector Fund (NESF) regulated by the Securities & Exchange Commission (SEC).
The primary objective of THE Frontier fund is to achieve a long-term capital appreciation for its Unitholders by investing in carefully selected securities. In addition to this, it offers its investors the opportunity and elasticity of putting resources together to maximize returns from the earnings power in volume investing.
On the other hand, the Nigerian Energy Sector Fund is a closed-end investment vehicle constituted under a Trust Deed and quoted on the Nigerian Stock Exchange. It was created to bridge the funding gap in the energy sector of the Nigerian economy through the mobilization of investible funds from individuals and corporate investors, both indigenous and foreign.
4. The Afrinvest Plutus Fund
Essentially, this is a money market fund that gives you access to diversified, low-risk portfolios and allows you to invest for yourself or on someone’s behalf for as low as N5,000.
The Fund must be approved by the Securities & Exchange Commission (SEC), and a Custodian Bank safeguards your funds. The profits from the Fund are returned every 3 months, and the investor can easily reinvest this profit. They also allow investors to either buy or sell their units of the Fund at a constant price of 100 Naira as they wish.
5. Stanbic IBTC Asset Management Limited
Basically, Stanbic IBTC Asset Management is a wholly-owned asset management associate of Stanbic IBTC Holdings, a member of Standard Bank Group, which operates several equity bonds.
They offer an array of client products and services. Their products and services range from traditional assets management such as securities, equities, and mutual funds, to alternative investment options like unquoted equities and private equity.
All these make it one of the top mutual funds managers in the land.
6. Quantum Zenith Asset Management
Their open-ended mutual Fund provides current income to its investors and maintains liquidity at a stable price of ₦1 across all classes of investors. Also, this is suitable for individuals who value liquidity and security of assets.
Prospects are required to invest a minimum of ₦10,000 for their initial mutual Fund; however, additional purchase requires only a minimum of ₦500. They offer a range of innovative investment products for both individual and institutional investors.
7. Asset & Resources Management (ARM)
ARM Investment Managers provide global asset management services across a wide range of investment options, including equities such as fixed-income securities, cash and real estate. It is Nigeria’s largest independent non-bank financial institution with more than 20 years of experience in asset management.
Their specialities include
- Retail Asset Management (Mutual Funds)
- Institutional Asset Management
- Alternative Investments
- Lastly, Private Wealth Management
8. Investment One
Investment One provides Trust Services, Investment Management, Financial Advisory Services and through their subsidiaries offer professional services like Securities Brokerage, Fund Management, and Pensions Services to individuals, state governments and government agencies as well as corporate institutions. Their mutual fund plans include:
- Nigerian International Growth Fund (NIGFUND)
- Guaranteed Investment Saving (GIS)
- myPASS (my Project Aimed Savings)
- Lastly, Guaranteed Income Fund (KGIF)
9. FSDH Asset Management Ltd
Basically, the FSDH operates a fund in equities tagged Coral Growth Fund (CGF). It is an open-ended unit trust scheme that invests in debt securities and equities of big organizations on the Nigerian Stock Exchange, investment-grade fixed-income securities and in the money market. The Coral Growth Fund CGF invests 65% in quoted equities and the balance of 35% in fixed-income securities and the money market. Prospects are to invest a minimum of ₦50,000 for their initial mutual Fund; however, additional purchase requires only a minimum of ₦10,000.
10. United Bank Of Africa (UBA) Asset Management Limited
UBA mutual fund is an open-ended fund, operating in Nigeria as a unit trust service provider under section 125 of the Investment Securities Act. There is free entry and free exit on the mutual Fund upon Subscription.
They offer the following plans: UBA Balanced Fund, UBA Money Market Fund, Bond Fund, and Equity Fund