Monday, November 04, 2019  /03:20 PM / By Cordros Capital / Header Image Credit: Cordros Capital 

Cordros Asset ManagementLimited (CAML) on Friday 1st of November 2019, held a signing ceremony for herproposed Dollar Fund following approval of offer documents by the Securities& Exchange Commission (SEC).

The signing ceremony is a keymilestone as it implies that the Cordros Dollar Mutual Fund will be offered tothe public in the coming weeks. 

The Group Managing Directorat Cordros, Mr. Wale Agbeyangi speaking at the signing ceremony noted that "TheCordros Dollar will help investors diversify their portfolio while also helpingthose with US Dollar obligations hedge against currency risk. The Fund'sobjective is to achieve capital appreciation in short to medium term forinvestors with USD and convertible currencies".

In a similar vein, Mrs.Morenike Da-Silva, the Managing Director of Cordros Asset Management Limitedstated that "With the Cordros Dollar Fund, investors who have been discouragedby the high entry levels for US Dollar based investments will now have easier,convenient access".

"We believe that the CordrosDollar Fund provides professional management and will help investors hedgetheir savings from the eroding effects of inflation as the underlying assetsare high-quality Eurobonds and USD money market instruments ." Said AdegbolahanAina, the Portfolio Manager.

The Cordros Dollar Fund iscoming at a time when speculations are surrounding the strength of the Nairaand investors are looking to diversify with investments denominated in foreigncurrency. With an initial fund size of $2million, the Fund will be offering20,000 units at $100 each with a minimum subscription of 5 Units ($500). TheFund will be open-ended meaning investors can continuously add newsubscriptions. 

Having earlier launchedNigeria's first ever Target Date Balanced Funds with Cordros Milestone Funds2023 & 2028 in 2018 as well as the Cordros Money Market Fund in 2016, theCordros Dollar Fund is another addition that strengthens Cordros AssetManagement Limited's position as a growth-oriented investment manager, whocontinuously offers investors a wide array of sound Investment solutions. 

For furtherenquiries, please send an email to [email protected]

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