Banking Briefs, BREAKING NEWS
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THE FBN Money Market Fund managed by FBN Capital Asset Management has retained its Agusto and Co fund risk rating of ‘Aa(f)’. According to a statement from FBN Capital Limited on Monday, July 27, funds with this rating are considered to have minimal to low risk of investment loss due to net asset value volatility.
FBN Capital is a subsidiary of FBN Holdings Plc, and a full service investment bank and asset management company. It said the fund had consistently showed high performance yields and offered 13.24 per cent yield as of July 24, 2015.
The company said, “According to Agusto & Co, the FBN Money Market Fund retained this rating as a result of the good credit quality of its underlying assets, low exposure to liquidity and interest rate risks and the capability of the investment management team, with the portfolio manager having over 22 years of investment management experience. In addition, the zero currency risk, being the effect of denominating the investments in the fund in naira, also contributed to the renewed rating.”
The FBN Money Market Fund is a short-to-medium term investment solution that provides stability, liquidity and income on a quarterly basis to unit holders, according to the statement. It said the fund typically offered higher interest rates when compared to the rates on a normal bank savings accounts, and investors could invest with as little as N5,000.
FBN Capital Asset Management said it offered a broad range of investment products and services aimed at assisting individuals to adequately provide for their future through financial planning and investing. According to the firm, its other mutual funds include the FBN Fixed Income Fund and the FBN Heritage Fund.
— Aug 10, 2015 @ 01:00 GMT
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Tags: Agusto & Co FBN Capital Asset Management FBN Capital Limited FBN Fixed Income Fund FBN Heritage Fund FBN Holdings Plc FBN Money Market Fund
