United Capital lists Nigerian Eurobond Fund and Wealth for Women Fund on the NSE

 

 

UNITED Capital Plc, has listed $10 million and N2 billion of its Nigerian Eurobond Fund, and Wealth for Women Fund respectively on the floor of the Nigerian Stock Exchange (NSE).
The listing followed a successful Initial Public Offer (IPO) of 100,000 units of US$100 each at par in the Eurobond Fund and 2,000,000,000 units of N1 each at par in the Wealth for Women Fund.
The listing followed approval of the allotments for the bond by the Securities and Exchange Commission (SEC).
Managing Director, United Capital Asset Management, Mr. Jude Chiemeka said the current economic challenges have altered investment interests in the market.
According to him, the United Capital Nigerian Eurobond Fund and the United Capital Wealth for Women Fund aim to meet the diversified investment portfolio needs of indigenous and global clients.
“We designed these new products specifically to suit the changing needs of our clients. The two products will help in deepening the market and increase choice of investing in the Nigerian capital market,” he said. Chiemeka noted that the listing on the NSE will promote transparency and visibility of the funds.
Chiemeka added that the other newly launched Fund, the United Capital Wealth for Women Fund, aims to encourage women to imbibe a savings culture, provide an avenue for women to be financially independent and to create a sustainable foundation for women’s financial empowerment and development in Nigeria.
He pointed out that a maximum of 80 per cent of the Fund’s assets will be invested primarily in naira denominated fixed income and high yielding instruments and 20 per cent will be invested in carefully selected quoted stocks from the Nigerian Stock Exchange. The Fund will invest in businesses who have significant women representation in their management/board.
Chiemeka however said, this is not limited to female gender, the male can also invest in it, saying this give them an avenue to invest in the capital market.