The recently released NAV Summary report by the Security and Exchange Commission shows that Afrinvest Asset Management notched up one position higher in the Asset Under Management, AUM, chart.
This achievement is coming after the fund manager added yet another fund, Afrinvest Plutus Fund, to its fund management portfolio. This brings to three, the total number of funds being managed by Afrinvest Asset Management, according to the said report.
The other two funds in the fund manager’s portfolio are Afrinvest Equity fund, and Nigeria International Debt Fund, which was one of the funds recently identified by Quantitative Financial Analytics, as having not made a loss in the last five years. Prior to the addition of the Afrinvest Plutus Fund, Afrinvest Asset Management occupied the 20th position on the AUM chart with 0.24% of total mutual fund assets under its management. The fund manager now manages N2.1 billion of mutual fund assets, representing 0.39% and placing it in the 19th position.
About Afrinvest Plutus Fund
Afrinvest Plutus Fund is a money market fund that grants investors the opportunity to invest in low risk securities like treasury bills, commercial papers and banker’s acceptances with as low as N5,000 initial investment. The fund which pays dividends quarterly provides investors with the other benefits that mutual funds generally provide, like professional asset management and diversification. The fund which is bench marked against the Nigerian 90-day Tbill rate is currently yielding 11.63% beating its bench mark return of 10.5%.
About Afrinvest Asset Management
Afrinvest Asset Management is a wholly owned subsidiary of Afrinvest West Africa, a leading independent investment manager in Nigeria. With over 20 years in the business of asset management, Afrinvest Asset Management engages in product areas spanning across individual managed accounts, real estate, mutual funds and investment advisory services.
