United Capital Plc, on Monday June 19, 2017, listed $10 million and N2 billion of its Nigerian Eurobond Fund (NEB), and Wealth for Women Fund respectively on the floor of The Nigerian Stock Exchange (NSE).
The listing followed a successful Initial Public Offer (IPO) of 100,000 units of US$100 each at par in the Eurobond Fund and 2,000,000,000 units of N1 each at par in the Wealth for Women Fund.
Managing Director of the group, United Capital Asset Management, Jude Chiemeka, said the current economic challenges have altered investment interests in the market. He said the funds were designed specifically to suit the changing needs of investors.
He noted that the listing on the NSE will promote transparency and visibility of the funds.
Business Hilights recalls that the United Capital Nigerian Eurobond Fund is an open-ended mutual fund that will be invested in Dollar denominated Eurobonds, floated by the Federal Government of Nigeria, Nigerian top tier banks and other corporate Issuers whose securities are registered with the Securities and Exchange Commission (SEC). The United Capital Wealth for Women Fund, aims to encourage women to imbibe a savings culture. The Fund will invest in businesses that have significant women representation in their management/board.