Corona­tion lists 3 mu­tual funds worth N2.17bn in stock ex­change

Weekly Trust - - BusinessXtra - Sun­day Michael Ogwu, La­gos

Within its first year of op­er­a­tion, Corona­tion As­set Man­age­ment, a sub­sidiary of Corona­tion Mer­chant Bank Ltd, has listed three mu­tual funds on the Nige­rian Stock ex­change worth N2.17bil­lion.

While 479 sub­scribers pooled N1.654bn through the Corona­tion Money Mar­ket fund, Corona­tion Fixed In­come had 39 sub­scribers and yielded N315.205m while Corona­tion Bal­anced Fund with 64 sub­scribers achieved N198.615m.

The funds, which opened from July 10 to 28, 2017 at N1.00 per unit, of­fered in­vestors three op­tions in line with do­mes­tic eco­nomic and fi­nan­cial mar­ket con­di­tions.

It op­por­tu­nity also of­fered di­ver­si­fied in­vest­ment port­fo­lios while re­ly­ing on the ex­pe­ri­ence and per­for­mance track record of the Corona­tion brand to en­sure their in­vest­ments at­tain its re­quired fi­nan­cial out­come.

Speak­ing on the fund at the stock ex­change, a Di­rec­tor in Corona­tion

The Na­tional Power Train­ing In­sti­tute of Nige­ria (NAPTIN) has com­menced train­ing of 36 elec­tric­ity work­ers from the Liberia Elec­tric­ity Com­pany (LEC) on power gen­er­a­tion, dis­tri­bu­tion and trans­mis­sion.

The four-week pro­gramme which is spon­sored by West African Power Pool (WAPP) in col­lab­o­ra­tion with the United States Agency for In­ter­na­tional De­vel­op­ment is aimed at pro­mot­ing West African coun­tries’ in­te­gra­tion on power sec­tor train­ing and to share ex­pe­ri­ence among West African coun­tries.

Speak­ing at the launch of the pro­gramme in La­gos, the in­sti­tute’s act­ing Di­rec­tor-Gen­eral, Al­haji Ahmed Nagode, dis­closed that WAPP would help grow and im­prove tech­ni­cal skills of LEC per­son­nel, adding that the trainees would in turn use ac­quired knowl­edge to re­solve their na­tion’s power chal­lenges.

Nagode said that the course was de­signed in three mod­els with 18 per­son­nel to be trained at NAPTIN Re­gional Train­ing Cen­tre in La­gos, while the other 18 per­son­nel would be trained at Kanji Dam. As­set Man­age­ment, Aig­bovbioise AigI­moukhuede, noted that they guar­an­tee com­pet­i­tive yields as an in­vest­ment team with over 50 years com­bined ex­pe­ri­ence will en­sure funds are de­liv­ered on the ex­pec­ta­tions of in­vestors.

Ear­lier in his ad­dress, the Chair­man of Corona­tion As­set Man­age­ment and Man­ag­ing-Di­rec­tor, Corona­tion Mer­chant Bank Group, Abubakar Ji­moh, de­scribed the funds-list­ing as an­other mile­stone and val­i­da­tion of the com­pany’s ex­per­tise in as­set man­age­ment.


From left: Deputy Pres­i­dent, Nige­rian So­ci­ety of En­gi­neers (NSE), Engr. Adekunle Mokuolu; Rep­re­sen­ta­tive of the Emir of Kano, Alh Shehu Muham­mad; Pres­i­dent NSE, Engr. Otis Oliver Anyaeji; and for­mer pres­i­dent NSE/ Guest Lec­turer, Engr. Shehu Balarabe Mustafa, dur­ing the so­ci­ety’s 26th lec­ture in Abuja on Thurs­day Photo:

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