FBNQuest’s FBN Heritage Fund Renamed FBN Balanced Fund
FBNQuest Asset Management, a subsidiary of FBNQuest Merchant Bank and part of the FBN Holdings Plc group, has changed the name of the FBN Heritage Fund to FBN Balanced Fund. The change of name was approved by unitholders of the Fund at an extraordinary general meeting (EGM) of the Fund in Lagos.
Speaking at the EGM, the Managing Director of FBNQuest Asset Management, Ike Onyia, explained: “In 2008, there were 34 funds, today we have almost 100. We thought it important to change the name of the fund into one that is reflective of the investment strategy of the fund, hence the change to FBN Balanced Fund”. “The underlying strategy remains the same, the asset allocation structure has been streamlined to enhance the distinct investment style of the Fund and enable investors situate how to best to benefit from this investment approach, within the context of their goals, risk profiles and expected portfolio returns.”
The FBN Balanced Fund was launched in 2008 as a multiasset mutual fund, suitable for investors with an appetite for earning greater rewards over a long-term period. The focus of this Fund is to invest in equities, bonds, money market instruments, and other securities in the capital markets.
Onyia said the fund is featured on their easy to use, self-service application, FBN EDGE, which is available at either of the apple or google stores.
“Through the app, investors can begin the journey to fulfilling their financial goals and implementing their disciplined investment plans by investing a minimum of N50,000 in the FBN Balanced Fund,” he added.
The investment strategy of the FBN Balanced Fund, which was established in 2008, is designed to provide investors with portfolio exposure to a mutual fund that invests across multiple asset classes. This asset mix ensures that investors profiled in the medium-risk category can consider this fund, given its implicit portfolio diversification strategy, an appropriate tool for achieving their financial objectives. The FBN Balanced Fund invests in a mixed portfolio of instruments such asStocks of high quality Nigerian companies, Long-term debt instruments of Nigerian federal and state governments, Long-term debt instruments of Nigerian corporates and high quality money market securities such as treasury bills, and commercial paper. According to the fund, over the past 10 years, it has appreciated by over 140 per cent, outperforming its benchmark.