Application for the Cordros Milestone Fund (CMF) 2023 and 2028, which are offered to investors at N100 per unit, has commenced.
A statement issued by Cordros Capital Limited disclosed that subscription for the funds, which opened on Monday, June 18, 2018, will close on Friday, July 27, 2018.
The leading financial services firm stated that the minimum initial investment for the offer is N2,500 (25 units) while additional investments must be 10 units thereafter.
According to Cordros, the CMF 2023 and 2028 are target-date mutual funds which pursue a long-term investment strategy to manage the asset allocation (mix of asset classes) of the fund to become more conservative as the target dates (2023 and 2028) approach.
The funds aim to give investors capital appreciation benefits, diversification across asset classes, automatic rebalancing, automatic adjustment for changing risk profile, annual income and professional portfolio management.
Target date funds, also known as lifecycle funds, are designed to offer a convenient way to invest through a portfolio of assets.
The funds are open-ended funds constituted under a Trust Deed and the units shall be continuously offered, Cordros Capital Limited, a member of the Nigerian Stock Exchange (NSE), explained in the statement.