Core Asset Management

FREQUENTLY ASKED QUESTIONS

Answer: Core Investment Money Market Fund is an actively managed open-ended unit trust scheme whose main objective is to achieve capital appreciation in the medium to long term for Investors in Money Market Instruments.

 Core Value Mixed Fund is an actively managed open-ended unit trust scheme whose main objective is to achieve capital appreciation in the medium to long term for Investors in equities listed on the Nigerian Stock Exchange, Corporate Bonds, Eurobonds and other fixed income money market securities.

Answer: The fund will deliver capital appreciation in the medium to long term for Investors and significantly higher returns than what is obtainable from the average domiciliary account in the local banks. The fund will also give investors liquidity, diversification, annual income and professional portfolio management.

Answer: The Core Investment Money Market Fund will be managed by Core Asset Management Limited, the Asset Management unit of the Core Trust & Investment Group, currently licensed by the Securities & Exchange Commission as a fund/portfolio management company. The fund manager has demonstrated competence in managing clients’ investment need with its range of products and services.

Answer: Each unit of the COINMMF is priced at N100.

Answer: You can invest with a minimum of N3, 000 into the COINMMF, the equivalent of 30 units into the fund, while additional investments will be issued in multiples of 10 units.

You can also invest with a minimum of N5, 000 into the COVAMF, the equivalent of 50 units into the fund, while additional investments will be issued in multiples of 10 units.

Answer: The Minimum holding period of an Investment into COINMMF is Ninety-One (91) calendar days from the date of subscription to the Fund.

Answer: Investors can subscribe to Units of the Fund after initial offering period from the Fund Manager or any of its designated agents/ representatives or through any medium that may be approved and provided by the Fund Manager from time to time. Payment for Units of the Fund can be made by a personal or manager’s cheque or via a bank or wire transfer in accordance with instructions on the subscription form or as provided by the Fund Manager.

Answer: Every unit holder will be entitled to a statement of unit holding, which will be a statement and evidence of their ownership to the number of units specified on such a document. Joint Unit Holders shall be entitled to one statement in respect of the units held jointly by them that shall be delivered to the joint holder whose name first appears on the Register.

Answer: Unit Holders can visit the Fund Managers website www.coreassetng.com to monitor daily market prices of the Fund.

Answer: The fund would invest its total assets in Nigerian Treasury Bill and other Money Market Instruments (e.g. FGN bonds and Money Market Securities) as stated below:

 

Proposed Asset Class

Target Weighting (%)

Asset Allocation Range (%)

Nigerian Treasury Bill

70%

60 – 80%

Other Money Market Instruments

25%

15 – 35%

Cash (Call Deposit)

 5%

0 – 5%

 

Answer: When you invest in COINMMF, returns will be dependent upon key macro-economic indicators, interest rates of the financial markets and comparable investment returns in the market. The Fund Manager does not have an influence on these factors.  Accordingly, it is impossible to guarantee any particular rate of return on the investment. However, the Fund Manager will strive to maximize competitive returns to unit-holders.

Answer: Core Asset Management Limited as the Fund Manager will distribute income (less expense) as dividends to Unit Holders on annual basis. The Unit Holders shall have the option to elect to be paid dividends or to reinvest their dividends in additional Units at the prevailing unit price. Unit Holders who elect to have dividends reinvested in new units shall be entitled to an issue of units that shall be equal in value to the amount they otherwise would have received in cash as dividend.

Answer: Unit-holders shall have the right to redeem all or part of the Units held by them at the Bid Price on any Business Day, provided redemption documents are received in accordance with the instructions specified by the Fund Manager from time to time. Minimum permissible holding after partial redemption is 30 units or such balance as advised by the Manager from time to time. The Fund will make redemption payments with 5 (five) Business Days of receipt of the Redemption Notice.

Answer: Yes, periodic contributions can be made. The Fund is open-ended and there is no closing date.

Answer: COINMMF, like all Unit Trust Schemes in Nigeria will be regulated by the SEC. In addition, a Trustee, FBNQuest Trustees Limited has been appointed to act on behalf of the unit-holders, legally ensuring that the Fund is managed in the best interests of unit-holders and in accordance with the provisions of the Trust Deed.

Answer: The trustee of the fund is FBNQuest Trustees Limited. The trustees have a legal duty to protect the interest of unit-holders. Their activities would include ongoing supervision of compliance with the investment policies of the fund.

Answer: The Fund seeks to invite retail investors, High Net Worth Individuals (HNIs) , Africans in Diaspora and institutional investors (both local and foreign), like you, seeking portfolio diversification who desire to invest in a pool of money market securities and maximize returns. 

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