United Capital Wealth for Women Bond Opens to All Gender, Targets 18% Yearly Yield

By June 21, 2017 Investment News

Newly listed United Capital Wealth for Women Bond was on Monday open on the Nigerian Stock Exchange to all gender while targeting a yearly Return Of 18 percent.

Two billion units of the United Capital Wealth for women bond were listed alongside 100,000 units of United Capital Nigeria Euro bond fund also on the Nigerian Stock Exchange (NSE).

The listing following approval of the allotments by the Securities and Exchange Commission and the Nigerian Stock Exchange is coming on the heels of a successful completion of the bonds’ initial public offering, which achieved subscription level of 52.67 per cent, with over 111 units holds and it remains open for subscription due to the open-ended structure of the fund.

Speaking on the listing, the Managing Director of United Capital Asset Management, Mr. Jude Chiemeka said, the United Capital Nigerian Eurobond Fund and the United Capital Wealth for Women Fund aim to meet the diversified investment portfolio needs of indigenous and global clients.

According to him, the two new Funds further solidify United Capital’s position as a market leader in the African investment banking space.

He stated that the current economic challenges have altered investment interests in the market.

“We designed these new products specifically to suit the changing needs of our clients. The two products will help in deepening the market and increase the choice of investing in the Nigerian capital market,” he said.

Chiemeka added that the other newly launched Fund, the United Capital Wealth for Women Fund, aims to encourage women to imbibe a savings culture, provide an avenue for women to be financially independent and to create a sustainable foundation for women’s financial empowerment and development in Nigeria.

He pointed out that a maximum of 80 percent of the Fund’s assets will be invested primarily in naira denominated fixed income and high yielding instruments and 20 percent will be invested in carefully selected quoted stocks from the Nigerian Stock Exchange. He also said the Fund will invest in businesses who have significant women representation in their management/board.

Source: Worldstage