Business a.m
In a ranking of dollar funds in Nigeria for the year 2023, Nairametrics, a leading financial information and content creation company, has named NOVAmbl Asset Management’s Dollar Fixed Income Fund as the best performing dollar fund in the period under review.Â
Nairametrics noted that the award to NOVAmbl Asset Management,a subsidiary of NOVA Merchant Bank,was determined by data obtained from the Securities and Exchange Commission (SEC).
In its report, the SEC disclosed that a total of 21 dollar funds registered in 2003 achieved an average return of 8.5 per cent. All the funds within this category had positive returns, and NOVAmbl Asset Management’s Dollar Fixed Income Fund emerged the best performer.
Financial analysis has shown that NOVA Merchant Bank’s commitment to excellence and its ability to consistently deliver positive returns have enabled NOVAmbl Asset Management to become a leader in the Nigerian asset management landscape. The recognition of NOVAmbl Asset Management by Nairametrics is a testament to the bank’s expertise in navigating the complexities of the market and its ability to optimise investments for maximum returns.
In a recent development, NOVA Merchant Bank Limited, the parent company of NOVAmbl Asset Management, announced its intention to convert to a full commercial bank. To this end, the bank has obtained a national commercial banking license from the relevant authorities. In addition, the bank has appointed Adebowale Oyedeji as its new managing director and chief executive officer. In his new role, Oyedeji will be responsible for leading the bank’s transition to a full commercial bank and overseeing its day-to-day operations.
In yet another positive development, NOVA Merchant Bank recently announced a significant increase in staff salaries, by up to 50 percent for all staff. This announcement further demonstrates the bank’s commitment to its workforce and its desire to create a supportive and productive work environment.Â
