Cor­dros opens sub­scrip­tion for $2m Dol­lar Fund

The Punch - - CAPITAL MARKET -

COR­DROS Cap­i­tal Lim­ited has opened sub­scrip­tion for its $2m Dol­lar Fund, which was launched last month.

the Head of in­vest­ment, Cor­dros As­set Man­age­ment Lim­ited, Adeg­bo­la­han Aina, while speak­ing at the for­mal launch in La­gos, said the dol­lar fund was cre­ated to en­able Nige­rian in­vestors who de­sired ex­po­sure to dol­lar de­nom­i­nated in­vest­ments to achieve cap­i­tal ap­pre­ci­a­tion in the medium to long term.

He stated that the Cor­dros dol­lar fund was of­fer­ing 20,000 units of $100 each, adding that the ap­pli­ca­tion list, which opened on Novem­ber 25, would close on De­cem­ber 27, 2019.

Ac­cord­ing to him, the fund has a min­i­mum sub­scrip­tion amount of $500 (five units) and an ad­di­tional sub­scrip­tion amount of $500.

Aina said in­vestors who had been dis­cour­aged by high en­try lev­els for United States-based in­vest­ments could now in­vest their US dol­lars con­ve­niently.

the Managing Di­rec­tor, Cor­dros As­set Man­age­ment Lim­ited, Mrs Morenike Dasilva, said a good num­ber of Nige­ri­ans had dol­lar obli­ga­tions for aca­demic and med­i­cal tourism.

She stressed the im­por­tance of hav­ing dol­lar-based in­vest­ment for in­di­vid­u­als who had dol­lar obli­ga­tions.

the Chair­man, Cor­dros As­set Man­age­ment Lim­ited, Emeka Ndu, said Cor­dros started as a stock­broking busi­ness about 12 years ago and had grown into a fi­nan­cial ser­vice group, con­sis­tently pro­vid­ing in­vest­ment so­lu­tions to suit var­i­ous classes of in­vestors.

He said, “We now have a to­tal of four mu­tual funds ― Cor­dros Money Mar­ket Fund, Cor­dros Mile­stone Fund 2023, Cor­dros Mile­stone Fund 2028 and the new Cor­dros Dol­lar Fund.

“this is a tes­ta­ment of our sus­tained growth over the years. the Cor­dros Dol­lar

Fund is highly ben­e­fi­cial to in­vestors; es­pe­cially at a time when in­vestors need to pro­tect their in­vest­ments from the erod­ing ef­fect of in­fla­tion.”

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