Meristem Wealth Extends N1bn Mutual Funds Offer
Investors yet to own quality assets in a diversified portfolio with steady returns on investment in the Meristem Wealth Management Limited’s N1 billion mutual funds still have the opportunity to do so as the firm has extended the offer to August 25, 2015.
Meristem Wealth Management recently floated the Money Market and Equity Market Mutual Fund of N500 million each. Meristem Wealth Management Limited is a wholly owned subsidiary of Meristem Securities Limited. The Fund Manager is offering 50,000,000 million units of N10 each in both the Money Market Fund and Equity Market Fund for public subscription with minimum subscription of 1,000 units and multiples of 100 units thereafter.
The offers which opened on July 15, 2015 was supposed to close on August 21, 2015, but has been extended to Tuesday, August 25, 2015. The extention was as a result of the Muslim holidays in July. Speaking on the benefits of the mutual funds, the Managing Director, Meristem Wealth Management, Mr. Sulaiman Adedokun, CFA, said with the Meristem Money Market Fund, the firm is offering to the investing public, an open ended mutual fund designed for investors who are interested in a steady stream of income at money market rates while preserving the value of their investment, while the Meristem Equity Market Fund is aimed at investors who have a long term investment perspective.
He stressed that mutual funds give investors the opportunity of investing in a collective scheme, saying the by introducing the funds, Meristem Wealth was promoting the collective investment scheme drive of the Securities and Exchange Commission (SEC). “If a lot of individuals do these investments on their own, they are not going to optimise value. But as a company, we believe there is a need for us to have mutual funds that are targeted towards creating wealth for individuals in the long-run. We believe that as an organisation, we would be able to derive value from these funds.
“We have wealth of experience. We have been doing these for our clients over the years, but we just believe it is tine to launch out and reach out to a larger number of people that want too be part of our success story.
We value clients, we don’t want to launch this fund just for the purpose of launching it, but we are doing it because we believe there is value in it.
“For the equity fund, the market is down now and there is huge potential increase for investors. I believe it provides a lot of opportunities for risktaking investors to explore the opportunities in the market,” he explained.
He added that the money market fund’s objective is to seek current income and stability of principal by investing in a select portfolio of short term money market securities, while the Equity market fund’s objective is to seek long term capital appreciation through investment in equity securities with a focus on a portfolio of stocks listed on the floor of the Nigerian Stock Exchange.