Estimated reading time: 5 minute(s)
Afrinvest Asset Management Limited, a subsidiary of Afrinvest (West Africa) Limited, has launched the Afrinvest Dollar Fund, a flexible solution for investors to add dollar-denominated securities.
The initial minimum investment amount is $1,000. It is an open-ended mutual fund approved by the Securities and Exchange Commission (SEC) and provides an opportunity for individual and institutional investors to diversify their portfolio and hedge against currency fluctuations. The $2 million Fund is offering 20,000 units at $100 per unit.
On the objectives of the Fund, Managing Director, Afrinvest Asset Management Limited, Ola Belgore, said: “It was created to help investors achieve income generation, capital preservation and portfolio diversification in the short to medium term.
It is designed to deliver significantly higher returns than the average domiciliary account and dividend will be paid twice a year.
The Afrinvest Dollar Fund offers investors access to dollar-denominated securities floated by Nigerian Sovereigns, Supranational entities and Corporates as may be determined by the Fund Manager.
The Fund is flexible as there is free entry and exit for investors subject to the prevailing Fund price.
On the impact of the Fund, Belgore said: “Members of the public who have future dollar obligations like health tourism, education fees and vacations can use the Fund to save towards their goals.
The low initial investment amount means more investors can diversify their portfolios and benefit from our years of experience.
The launch of this Fund illustrates quite well the mantra of Afrinvest, which is simplifying investments, creating wealth.”