GUARANTY TRUST FUND MANAGERS LAUNCHES NAIRA-DENOMINATED INVESTMENT PLATFORM 'FUND 724'
Detailed Breakdown:
1. Platform Launch Overview: Guaranty Trust Fund Managers Limited (GTFM), a subsidiary of Guaranty Trust Holding Company Plc, has introduced the Guaranty Trust Investment Fund 724, an open-ended, naira-denominated unit trust scheme. The platform is registered with the Securities and Exchange Commission (SEC), making it accessible to the general public.
2. Key Features of Fund 724: The scheme offers 10,000,000 units at ₦100 each, with a minimum subscription amount of ₦1,000, providing a low entry point for Nigerians to invest.
Fund 724 aims to generate capital growth from a diversified portfolio, including money market instruments such as fixed deposits, commercial papers, and Nigerian Treasury Bills.
3. Tracking and Returns: The fund will track the 91-day average Nigerian Treasury Bills’ yield from the previous month, ensuring competitive returns for investors.
Subscribers can benefit from the flexibility of easy access and withdrawals, making it suitable for short-term needs and long-term growth.
4. Empowering Everyday Nigerians:
Speaking on the launch, Josephine Essien, Executive Director and Chief Investment Officer of GTFM, emphasized that the product aims to democratize asset management.
The initiative provides an opportunity for everyday Nigerians, even those with as little as ₦1,000, to earn more on their savings and participate in long-term capital growth.
5. Changing the Asset Management Narrative: The launch of Fund 724 challenges the notion that asset management is reserved for wealthy individuals. Instead, GTFM’s retail product opens up investment opportunities to a broader section of the population.
6. Future Outlook: With its low entry point, diversified portfolio, and accessible withdrawal options, Fund 724 is poised to attract a wide range of retail investors, making it a promising addition to Nigeria’s growing asset management landscape.
Detailed Breakdown:
1. Platform Launch Overview: Guaranty Trust Fund Managers Limited (GTFM), a subsidiary of Guaranty Trust Holding Company Plc, has introduced the Guaranty Trust Investment Fund 724, an open-ended, naira-denominated unit trust scheme. The platform is registered with the Securities and Exchange Commission (SEC), making it accessible to the general public.
2. Key Features of Fund 724: The scheme offers 10,000,000 units at ₦100 each, with a minimum subscription amount of ₦1,000, providing a low entry point for Nigerians to invest.
Fund 724 aims to generate capital growth from a diversified portfolio, including money market instruments such as fixed deposits, commercial papers, and Nigerian Treasury Bills.
3. Tracking and Returns: The fund will track the 91-day average Nigerian Treasury Bills’ yield from the previous month, ensuring competitive returns for investors.
Subscribers can benefit from the flexibility of easy access and withdrawals, making it suitable for short-term needs and long-term growth.
4. Empowering Everyday Nigerians:
Speaking on the launch, Josephine Essien, Executive Director and Chief Investment Officer of GTFM, emphasized that the product aims to democratize asset management.
The initiative provides an opportunity for everyday Nigerians, even those with as little as ₦1,000, to earn more on their savings and participate in long-term capital growth.
5. Changing the Asset Management Narrative: The launch of Fund 724 challenges the notion that asset management is reserved for wealthy individuals. Instead, GTFM’s retail product opens up investment opportunities to a broader section of the population.
6. Future Outlook: With its low entry point, diversified portfolio, and accessible withdrawal options, Fund 724 is poised to attract a wide range of retail investors, making it a promising addition to Nigeria’s growing asset management landscape.