Afrinvest Floats N5b Equity Fund
AFRINVEST West Africa Limited, an issuing house and stockbroking firm has floated an equity fund tagged Afrinvest Equity Fund.
The fund is offering to the investing public 50 million units at N100 per unit between August 4 and September 10, 2008.
Investment in the equity fund would offer a window of opportunities for investors to own a basket of stocks and money market instruments selected for their fundamental value and tactically weighed to take advantage of financial market opportunities.
Speaking at the completion board meeting, the Managing Director of Afrinvest, Mr. Godwin Obaski said the fund is designed for investors with a medium to long-term investment horizon.
According to him, the downturn in the market will not affect the offering because only professionals with tools and expertise could uncover the various pockets of value embedded in the market.
Obaseki stated that Afrinvest remains the only rated asset manager in the country with an AX rating by Global Credit Rating (GCR), for its world class investment management approach with over 12 years of experience in the business of professional investment management.
On the benefits of investing in the fund, Obaseki said: "The Afrinvest Equity Fund offers an opportunity to achieve good returns from a diversified portfolio of investments. The fund also offers an opportunity to subscribe for units on behalf of oneself and in the name of minors and for gifting to friends and relatives."
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Afrinvest is involved in the business of investment banking, securities trading, asset management and investment research.
The firm provides top-notch financial solutions to their clients proven track record of professionalism and excellence culminating in their enviable reputation in African financial landscape.
The company emerged from the December 2005 investment by Afrinvest International in Securities Transactions and Trust Company Limited (SECTRUST), which led to SECTRUST changing its name to Afrinvest.
In the past two years, the company's transactions have been awarded deal of the year, by the banker magazine, a subsidiary of Financial Times magazine in the UK.
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