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Legacy Debt Fund

Legacy Debt Fund (LDF) is an open-ended mutual fund that invests in Medium Maturity Bonds and Money Market Instruments. It is benchmarked against a composite of 50% return on the 3-month Federal Government of Nigeria Treasury bill plus 50% return on the 3-year Federal Government of Nigeria bond. The Fund is targeted at both retail and institutional investors. The LDF seeks to preserve capital and generate stable income. In addition, the Fund aims to provide liquidity and diversification benefits. The Fund is rated Aa- by Agusto & Company. In addition, we have a Customer Portal through which investors can view their holding in the Legacy Debt Fund. Login details will be sent to the investor's registered email address, once the investor has registered at https://portal.fcmbassetmanagement.com/.

Features

  • Product currency: Nigerian Naira (NGN)
  • Country of domicile: Nigeria
  • Fund Objective: To preserve capital and generate stable income
  • Fund rating: Aa- by Agusto & Co
  • Benchmark: 50% return on 3-year FGN Bond + 50% return on 3-month FGN T-bill
  • Currency risk: Zero
  • Minimum initial subscription: 25,000 units (at prevailing market price per unit)
  • Minimum additional purchase: 5000 units (at prevailing market price per unit)
  • Minimum Investment period: 6 months
  • Entry / Exit fee: Nil / 25% of gain on capital, if within 6 months
  • Settlement / Redemption: Between 1-5 working days

Mechanics

The Fund is a relatively medium-risk mutual fund that invests a minimum of 70% of the portfolio in Bonds of up to 10 years. Liquidity is achieved via daily bid and offer prices provided by the Fund Manager. In addition, the asset allocation strategy of the Fund ensures that the Fund is diversified.

Benefits

  • Skilled and professional fund management
  • Opportunity for capital protection and stable income
  • Excellent means of earning income, including on idle funds
  • Convenient way of saving towards short, medium, or long term goals
  • Direct debit option automates regular saving process
  • Proceeds to investors, at the point of exiting the Fund, are tax free
  • The Fund has zero currency risk, as inflows and investment of funds are made solely in Nigerian Naira
  • Fund is rated investment grade Aa- by Agusto & Co
  • Benchmark is market-driven, so no need to negotiate rates
  • Fund is very liquid, making entry and exit very easy
  • Unit holders can monitor their investments 24/7/365 through our Customer Portal and will receive monthly performance reports.

History of Dividend Payment

FUND-YEAR ENDED DIVIDEND PAID DIVIDEND YIELD
30-06-2017 11 Kobo 4.48%

Trading /Settlement

Trading and Settlement is done to provide best execution.

Decision making process

An Investment Committee meeting is held at least once a quarter to determine the direction of the market and how to take advantage of emerging opportunities, which culminates in a house view. The decisions arrived at these meetings guide the Fund Manager on how best to invest the assets of unit holders in the Fund.

"principal and return on investment are not guaranteed"

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