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Lead Capital Plc launches Lead Balanced Fund

Nigeria’s leading investment banking group, Lead Capital Plc has launched a new mutual fund it titled Lead Balanced Fund (IBF).

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Lead Balanced Fund

Nigeria’s leading investment banking group, Lead Capital Plc, has launched a new mutual fund titled Lead Balanced Fund (IBF).

Here’s what will interest you about IBF: The Lead Balanced Fund is an Open-Ended Fund authorised and registered in Nigeria as a Unit Trust Scheme under Section 160 of the Investment and Securities Act No. 29, 2007. It comprises of 5,000,000 units of N100.00 each.

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The Fund is governed by a trust deed, and United Capital Trustees Limited has been appointed as Trustees. The Units of the Fund will be issued on a continuous basis to new subscribers at the prevailing offer price after the initial offering.

IBF’s Investment Objectives: The Fund seeks to achieve capital appreciation, by holding long term positions in different asset classes and providing regular income streams for unitholders. The also fund focuses on value investing, by holding long term equity positions in viable blue chip companies that are attractively priced and listed on the NSE.

In addition, the fund invests in high quality fixed income securities such as Treasury Bills, Bonds, and other short term instruments, thereby reducing the overall volatility of the investment portfolio and offering investors competitive returns.

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IBF’s Investment Incentives: The Lead Balanced Fund is an investment vehicle suitable for investors with moderate to high-risk appetite. It offers the following benefits to subscribers:

a.    Diversification: Investors seeking to maintain a certain return-risk profile in their investment portfolio have the opportunity to invest in the Balanced Fund, which invests in a wide array of assets with diverse risk levels and returns potentials. This is expected to provide some level of stability as against holding an investment in a single asset class.

b.    Capital Appreciation: The Fund seeks to take long term positions in quality securities, which have track records and strong potentials for value appreciation and return for investors. These positions will be monitored in accordance with the Fund’s policy to ensure that its objectives are been achieved.

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c.    Liquidity: Investors can easily redeem (either in full or in part) their unit holding in the Fund at any given period. This will be done in accordance with the provisions in the Trust Deed.

d.    Income: The Fund is structured to distribute dividends to subscribers annually from the net income earned for each financial year, as approved by the Investment Committee and in line with the provisions of the Trust Deed.

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e.    Professional Fund Management: The Fund is managed by a team of experienced portfolio managers, who have in-depth knowledge of the investment environment and are committed to the effective administration of the Fund. The Investment Committee is set up to provide necessary guidance on the administration of the Fund and oversee the investment selection process, supported by robust research.

Patricia

Asset Allocation:

 

S/n

Asset Class

Asset Allocation Range (%)

Target      Weighting (%)

1

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Equities

10 – 60

30

2

Treasury Bills/other money market securities

20 – 70

55

3

Bonds

0 – 20

10

4

Cash

0 – 5

5

 

While the application list for this Fund was opened on Friday, April 5, 2019, the application list will be closed on Tuesday, May 14, 2019.

Click the links below to download:

  1. The Offer Prospectus
  2. The Subscription Form

Subscription Method:
You can subscribe to this fund through the following steps:
1. Download and complete the LBF Subscription Form below.
2. Pay the subscription amount to the below-designated bank.
3. Scan and send a copy of the completed form with payment evidence (Transfer details/Deposit Slip) to assetmanagement@leadcapitalng.com
4. The Customer Service unit will contact you within 2hrs to confirm receipt of your form and payment.

Offer proceed bank accounts

Below  N10million

Above 10Million

Bank: Guaranty Trust Bank Bank: Access Bank Plc
Name: Lead Asset Management Limited Name: Lead Balanced Fund Offer Proceed
Account: 0004526622 Account: 0801626311
Sort code: 044150291

 

Famuyiwa Damilare is a trained journalist. He holds a Higher National Diploma (HND) in Mass Communication at the prestigious Nigerian Institute of Journalism (NIJ). Damilare is an innovative and transformational leader with broad-based expertise in journalism and media practice at large. He has explored his proven ability in the areas of reporting, curating and generating contents, creatively establishing social media engagements, and mobile editing of videos. It is safe to say he’s a multimedia journalist.

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Coronavirus

How to access CBN’s healthcare grant

The disbursement under the Scheme shall be made to beneficiaries in tranches subject to approved milestones achieved.

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CBN

The Central Bank of Nigeria (CBN) has issued the guidelines to its Healthcare Sector Research and Development Intervention Scheme (HSRDIS).

The grant was designed to help strengthen the public healthcare system with innovative financing of research and development (R&D) in new and improved drugs, vaccines and diagnostics of infectious diseases in Nigeria.

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This was disclosed by CBN via its site in Saturday and seen by Nairametrics. The guideline stated that the HSRDIS is designed to trigger intense national R&D activities to develop a Nigerian vaccine, drugs and herbal medicines against the spread of COVID-19.

It stated, “It would also curb any other communicable or non-communicable diseases through the provision of grants to biotechnological and pharmaceutical companies, institutions, researchers, and research institutes.

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The Scheme is intended to boost domestic manufacturing of critical drugs and vaccines to ensure their sustainable domestic supply and reduce the bulk manufacturing costs of the drugs, herbal medicines and vaccines in Nigeria.

READ MORE: FG to reduce raw materials import by N3trillion

Source of fund

According to the apex bank, the Scheme shall be funded from the Developmental Component of the Micro, Small and Medium Enterprise Development Fund (MSMEDF).

Grant Limit
While Research activities would not access more than N50 million, development/Manufacturing activities will access more than N500.0 million.

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CBN emphasised that the disbursement under the Scheme shall be made to beneficiaries in tranches subject to approved milestones achieved.

Patricia

READ ALSO: Fidson’s plan to dominate the pharmaceutical space in the next 10 years

Timeframe

Timeframe given to research activities was not more than two years from the date of release of fund and Development/Manufacturing activities are not more than one (1) year from the date of release of fund.

Who is eligible:

Candidate vaccines undergoing pre-clinical testing or trials shall not be
eligible for consideration under this Scheme.

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But candidate vaccines undergoing clinical testing or trials shall be eligible for consideration under the Scheme if considered to have high potential to cross the clinical trial stage and prospects of scale by the Body of Experts (BoE).

It stated, “In applying for the grant, the applicant shall be required to have conducted pre-clinical testing of the candidate drugs, herbal medicines and vaccines, and obtained certification from relevant health authorities for further research and development.

“Special consideration shall be given to candidate drugs, herbal medicines and
vaccines with high scientific merit against emerging infections and contribute to the development of the Nigerian vaccine.”

Modalities

The applicant(s) shall submit its application, with relevant documentation of validation from relevant health authorities, trial results, patent registration details (if any) and development timetable to the Body of Experts (BoE).

“The BoE shall evaluate applications and recommend to the CBN. CBN shall review for documentation adequacy and completeness.

“Upon approval, the approved grant sum shall be released to the applicant’s
account with any PFI of his/her choice. The beneficiary shall submit periodic progress report on the project to the CBN.

“The CBN shall have proprietary right over all financed R&D outcomes or
products. Equally, licensing protocol for the mass manufacturing of developed
drugs, phytomedicines and vaccines shall be defined by the BoE in accordance with
the World Health Organisation’s current Good Manufacturing Practices (cGMP),” it added.

 

 

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Business News

Possibilities of a second wave of COVID-19 infections Limits U.S dollar gains

American dollar ended the week cumulatively lower as the possibilities of the second wave of COVID-19 pandemic limited its upside. 

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Possibilities of a second wave of COVID-19 infections Limits U.S dollar gains

The American dollar index closed on Friday up at 0.18% to 96.93.

However American dollar ended the week cumulatively lower, for a third straight week, as uncertainty about America’s economy limited its upside.

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The uncertainties about the economic outlook and the possibilities of a second wave of COVID-19 infections had capped the greenback’s gains, Chuck Tomes, portfolio manager at Manulife Asset Management said in an interview with CNBC.

What is the importance of the dollar index?  The American Dollar Index tracks the U.S dollar strength relatively against a bouquet of other major currencies around the world, such as (Japanese yen, Euro, British pounds sterling, Swedish krona, Canadian dollar, Swiss Franc).

(READ MORE: Again, U.S dollar slumps against major currencies, investors become optimistic about global demand)

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Nigerians hoping to meet foreign exchange debt or payment obligations, transactions via the U.S dollar to countries like France, United Kingdom, Australia, Germany Japan, would have the need to pay fewer dollars to fulfill such transactions.

“Today you’ve seen better-than-expected economic data coming out of the U.S. in terms of the jobs numbers.   

“The reaction on the back of that has been expectations of better growth coming out of the U.S. as well as a steepening yield curve, both of which have provided a lift to the dollar.” Chuck Tomes added.

Possibilities of a second wave of COVID-19 infections Limits U.S dollar gains

However, some currency analysts in a report to CNBC said the good macroeconomic gains recorded on Friday in America might not be repeated soon.

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“While this was no doubt a great jobs report, a lot of good news was already priced in. Future estimates and expectations on the economic rebound are likely higher from here and therefore harder to meet or beat,” said Matt Miskin, co-chief investment strategist at John Hancock Investment Management. 

Patricia

 

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Business News

NPA to receive shiploads of petroleum products and food items in Lagos port

Among the expected items to be received are frozen fish, base oil, general cargo, bulk salt, bulk clinker, butane gas, bulk wheat and soya beans.

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Nigerian Ports Authority, NPA, Hadiza Bala-Usman, Maritime, Ports, Badagry deep seaport, NPA, LADOL collision intensifies, as they throw counter-accusation over contract 

The Nigerian Ports Authority (NPA) will receive 16 ships laden with petroleum products, food items and other goods over the next 14 days.

According to its publication, `Shipping Position,’ which was released on Saturday, the receipts of the shipment will last from June 6 through June 20.

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According to the publication viewed by NAN, the ships are expected to arrive at the Lagos Port Complex.

Among the expected items to be received are frozen fish, base oil, general cargo, bulk salt, bulk clinker, butane gas, bulk wheat and soya beans.

READ ALSO: NPA and BUA Group dispute to affect 1000 jobs, $500,000 monthly revenue 

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The NPA also noted in its publication that 23 ships had arrived the ports, waiting to berth with containers, general cargo and petrol, while 17 other ships were at the ports discharging containers, petrol, butane, bulk fertilizer, bulk wheat, general cargo and frozen fish.

What you should know

When the World Health Organisation declared COVID-19 a pandemic, and several industries started shutting down, the Nigerian government took the decision to leave Nigerian ports operation in line with stipulated guidelines.

This was done to prevent further contraction in the economy, as the economic implications of shutting down the seaports in an import-dependent economy were considered unsavory.

READ ALSO: NPA Decommissioning of Port Harcourt Terminal: We’ll vigorously defend, protect our rights – BUA Group

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The government decided that, just like the food and healthcare sectors, the ports were to be considered essential too since there was a need to keep a steady import of foods, refined petroleum products, raw materials for the local industries, finished consumer goods and most importantly, drugs for the healthcare system.

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Managing Director of the NPA, Hadiza Bala-Usman, also suspended applicable terminal storage fees on consignments for an initial period of 21 days effective 23 March, and agreed to fast-track the clearance of over 1,500 overtime cargoes as part of its efforts to promote ease of business.

 

 

 

 

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