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