Data from the Security and Exchange Commission (SEC) says there are 73 Mutual Funds in the country as at February 23, 2018.
The Mutual Funds are further segmented into categories such as equity-based Mutual Funds, Fixed Income Security Funds, Money Market Funds, Bond Funds, Mixed Funds and Real Estate Funds.
Investors in these array of funds expect periodic growth in the fund’s Net Asset Value in line with their investment goals.
SEC’s latest data on Fund Performance lists our the performance of all registered Mutual Funds in the country over an 8 week period, spanning from December 28, 2017, to the week ended February 23, 2018. The results are in are this is the best funds in Nigeria today in terms of increase in Net asset Value.
Best Performing Fund – Paramount Equity Fund
Who are the Fund Managers – Chapel Hill Denham
Type of Fund – Equity Based Fund
NAV Increase – 31.68%
See top performers
Can’t find your Fund on the list above? Download or view the Spreadsheet below;
DMO reveals what infrastructure Sukuk Fund is financing
The Debt Management Office revealed that Sukuk funding is currently rehabilitating the Outer Marina Road in Lagos.
The Debt Management Office revealed that Sukuk funding is currently rehabilitating the Outer Marina Road which is a major road connecting Lagos Island to Victoria Island, Falomo and Ikoyi.
The DMO disclosed this in a statement on Wednesday evening.
“While the Outer Marina Road is a major artery on its own, It will also be instrumental to easing the traffic in Lagos during the repair of Falomo Bridge. Thanks to the SUKUK, we are able to rebuild Nigeria one infrastructure at a time,” it said.
— DMO Nigeria (@DMONigeria) April 7, 2021
What you should know
The Debt Management Office (DMO) announced last month that it listed its third sovereign Sukuk, N162.557bn 7-year 11.200% AL Ijarah Sovereign Sukuk due 2027, on the Nigerian Stock Exchange and the FMDQ Securities Exchange.
FG moves to issue Eurobonds, to select advisers through open bid
The amount to be raised is expected to be within the external borrowing plans for 2021.
The Federal Government has concluded plans to issue Eurobonds for 2021 and is going to pick advisers to the transaction through an open bid process.
The amount to be raised is expected to be within the external borrowing plans for 2021. The Federal Government in 2021 plans to raise $6.14 billion (N2.34 trillion) from foreign sources.
This disclosure was made by the Director-General of the Debt Management Office (DMO), Patience Oniha, during a chat with Reuters on Wednesday, April 7, 2021.
The Federal Government, who had earlier planned a Eurobond issue early last year after its sixth sale in 2018 where it raised $2.86 billion, deferred such plans due to the disruptions caused by the outbreak of the coronavirus pandemic.
The DMO boss at an investors conference with the Federal Government put together by Citibank, last year, said that the Federal Government had no plans to source debt from Eurobond in 2020 as it is going to shift its focus to domestic borrowing and sourcing from concessionary sources.
Earlier this year, Nigeria reduced its external borrowings in a new debt strategy after it redeemed its 6.75% $500 million Eurobond in January with Oniha saying that the DMO was monitoring international markets for new issues by frontier countries.
What you should know
- Ghana had some time last week raised $3 billion from Eurobonds, a year after the outbreak of the coronavirus pandemic, which disrupted economic activities globally.
- This will be a huge boost for Nigeria especially at a time the Federal Government is still struggling to get approval for the $1.5 billion loan from the World Bank due to issues on currency reforms.
- The Institute of International Finance had said it expected African governments to return to capital markets this year to sell bonds as investors embrace more risk.
Nairametrics | Company Earnings
Access our Live Feed portal for the latest company earnings as they drop.
- Cornerstone Insurance Plc notifies stakeholders of late submission of financial statements.
- NSE approves delisting of 11 Plc shares.
- Berger Paints Nigeria Plc reports a 67% decline in Profits in FY 2020.
- MTN Nigeria raises N73.5 billion from CP Issuance to finance operations.
- Jaiz Bank proposes dividend worth N884 million for shareholders.