Meristem Wealth Management Limited says it has floated N1bn Mutual Funds aimed at making prospective investors to own quality assets in a diversified portfolio with steady returns on investments.

The N1bn funds consist of N500m Money Market Mutual Fund and N500m Equity Market Mutual Fund.

The Managing Director, Meristem Wealth Management, Mr. Sulaiman Adedokun, said the firm was coming up with the offer now because the current situation in the markets represented the best time for discerning investors to come into the markets.

According to him, the fund manager is offering 50 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.

Adedokun said the offer, which opened on July 15, 2015, was supposed to close on August 21, 2015.

However, due to the Muslim holidays in July, he said the closing date of the offer had been shifted to August 25, 2015.

The Meristem boss said, “The Meristem Money Market Fund which we are offering to the investing public is 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 added that the money market fund’s objective was 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 was 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.

According to Adedokun, the equity market fund is for all classes of investors that are willing to take more risk for returns on investment while the money market fund is also ideal for all classes of investors that value liquidity and security of assets.

Meristem in a statement quoted its Assets Portfolio Manager, Mr. Taiwo Yusuf, as advising investors to take advantage of the funds and secure their future.

He said, “People should save and have investment for the rainy day and people should have investments that are safe. The Meristem Money Market Fund and Meristem Equity Market Fund present you an opportunity to have a very safe investment because they are diversified across asset classes.”

Adedokun further assured investors of the safety of the fund given the experience of the fund manager and other parties to the offers.

“We have gone out of our way to make sure that the parties to this fund are very experienced such that they will give that necessary protection to investors who come into these funds”, he said.

Meristem Wealth Management is a wholly owned subsidiary of Meristem Securities Limited.

Source: Punch