By Cynthia Ezekwe
Norrenberger, an integrated financial services group, has introduced its new product– ‘‘Norrenberger Dollar Fund’’, to assist investors alleviate currency devaluation, and enable them to enjoy higher returns.
The dollar fund was approved by the Securities and Exchange Commission(SEC), and programmed to offer capital appreciation and diversification to investors.
The new product, when open for subscription this week, will invest in eurobonds issued by governments and corporations, and dollar denominated money market Instruments and cash.
Also, the fund has a minimum subscription amount of $500 and an additional subscription amount of $100, an avenue for investors to add to their investments at any time.
Speaking at the official launch held recently in Abuja,Tony Edeh,the group managing director of the company, said that the company has a mission to create financial asset classes that will assist in proffering financial solutions to every household in Nigeria by 2025.
According to him,the launch of Norrenberger Dollar Fund came at the right time to help investors diversify their portfolio and also help those with US dollar obligations hedge against currency risk.
Also speaking,at the event, Abigail Utomi, business head, asset management, explained that the core objective of the fund was to provide investors with the opportunity to invest in dollar-denominated instruments that helps to alleviate the effects Naira devaluation has on their investment.
“Investors can enjoy significantly higher returns than the average domiciliary account.The fund is targeted at retail and high net worth individuals, corporates, institutional investors and Africans in diaspora who desire exposure to Dollar denominated Fixed Income Securities,” Utomi said.
