July 5, 2010
Stockbrokers and Investment Analysts at a forum have endorsed the proposed funds management approach for the ongoing N2bn Mutual Funds of 10,000,000 (Ten Million) units each of Access Balanced Fund and Access Fixed Income offered for subscription by Access Investments and Securities Ltd, a wholly-owned asset management subsidiary of Access Bank Plc.
At the interactive session held in Lagos recently, Mr. Okonkwo Ignatius Ekene, Head Capital Market, Calyx Securities Ltd, expressed satisfaction with the proposed approach to management of the funds by the Funds Managers, Access Investment and Securities Ltd.
Also in her own view, Mrs. Nkoli Edoka of Prime wealth Capital Ltd, said that clearly the mutual fund is unique in its propositions to investors and she is confident that the approach to its application to investment will be of significant benefit to investors.
According to Mrs. Edoka, the proposed approach to Funds Management as shown by the yield curve management, trading strategy and funds administration process, is an indication of the level of expertise that would go into the funds administration and quality of returns investors should expect.
Earlier in his presentation,
“For instance, Access Fixed Income Fund was created and structured with the ultimate goal of achieving long-term returns that are uncorrelated with the Nigerian equities market by investing in a portfolio of Federal Government Bonds, Money Market Securities and Cash that have been approved by the Securities and Exchange Commission of Nigeria for our investors. Similarly, investors in the Access Balanced Fund can buy a single product that will automatically rotate their investment among equities, bonds, money market securities and cash, based on a thoroughly tested quantitative model that gives the investors the best upside potential while managing the downside risk”.
He added that the Funds will serve as portfolio diversifiers for investors and provide a consistent stream of income, given their highly diversified approach and feature.” Illustrating this point, Mr.Osuchukwu said that “investors in the Access Fixed Income Fund will enjoy regular coupon payment, potential capital gains on their investments, interest payment on intermediate coupon and interest payment on the principal invested. For subscribers to the Access Balanced Fund, returns include but are not limited to regular coupon payment, potential capital gains, interest on intermediate coupon, dividends payment, capital appreciation and interest on principal invested.”
About Access Securities and Investment Ltd
Established in 2008, Access Investments and Securities is a wholly-owned asset management subsidiary of Access Bank Plc. The company was licensed by the Securities and Exchange Commission to carry out the functions of Fund & Portfolio Managers and Financial Advisers in Nigeria. It offers a broad range of investment and brokerage services to institutional and private clients, and provides access to global markets through a related company, The Access Bank (UK) Ltd, (regulated by the Financial Services Authority of the United Kingdom.