Cordros opens subscription for $2m Dollar Fund
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.”