-Holds AGM Dec’03      

By Patrick ONOJA investadvocate

Dec 02 2010 16.00 GMT

 

Lagos (INVESTADVOCATE) – Union Trustees Mixed Fund, a subsidiary of Union Bank of Nigeria Plc (UBN) has proposed to offer Unit Holders a 5 Kobo dividend payout for the year ended April 30 2010.

 

This was contained in the Fund’s Report and Financial Statements for year 2010.

 

From the Balance Sheet as at April 30 2010, Unit Holders Equity dropped from N4.007 billion in year 2009 to N1.604 billion in year 2010 end; indicating a decline of -59.97 percent (-59.97%) in the review period.

 

Also, Unit Holders Funds depreciated from N4.274 billion in year 2009 compared to N2.027 billion as at April 30 2010; showing a depreciation of -52.57%.

 

Money Market Investments also decreased from N3.888 billion in year 2009 to N1.030 billion as at April 30 2010 indicating a -73.50% in the review period.

 

While Trading Securities increased from N19.362 million in 2009 to N565.491 million in year 2010 end; representing an increase in Trading Securities of 2820.662%.

 

The Union Trustees Mixed Fund is registered in Nigeria as a Unit Trust Scheme under Section 125 of the Investment Securities Act (ISA) and is governed by a Trust Deed with UBA Trustees Limited as Trustee to the Fund.

 

The AGM of the Fund is scheduled for Friday December 03 2010 at the Hotel Bellissimo, Chevron Roundabout Lekki in Lagos Nigeria. The time for the meeting is 09.00 am prompt.