(Photo caption) From left to right: Ade Bajomo, Executive Director, Market Operations and Technology, The Nigerian Stock Exchange (NSE) presenting a gong to Abubakar Jimoh, Managing Director, Coronation Merchant Bank Ltd during the listing of the bank’s three mutual funds on Daily Official List of the Exchange on Monday in Lagos.

Coronation Asset Management a subsidiary of Coronation Merchant Bank Ltd, on Monday listed three mutual funds on the Nigerian Stock Exchange (NSE), thereby enriching its secondary market offerings as retail and institutional investors can enter and exit thereby driving market activities.
The three newly listed funds are: Coronation Money Market Fund; Coronation Fixed Income Fund and Coronation Balanced Fund.
Describing the listing as yet another milestone in the company’s history and validation of its expertise in asset management, Abubakar Jimoh, Chairman of Coronation Asset Management and Managing Director, Coronation Merchant Bank Group, said listing the N2.168bn raised from the three funds on the bourse, is a demonstration of a determination and commitment “to offer better prospects on their investments across all market conditions”.
Also commenting, Aigbovbioise Aig-Imoukhuede, Director at Coronation Asset Management said the “funds will guarantee investors’ competitive yields as the business has put together a strong investment management team who will be guided by an investment committee with over 50 years combined experience to ensure the funds deliver on the expectations of investors.”
He added that “while the Coronation Money Market Fund offers investors the opportunity to maximize return on their liquid savings, the Coronation Fixed Income and Balanced Funds provide the best opportunity to realize medium to long term investment goals.
The funds, the group said in a statement, are coming in the first year of CAM’s operation.
While 479 subscribers pooled N1.654bn through the Coronation Money Market fund, Coronation Fixed Income had 39 subscribers and yielded N315.205m; and Coronation Balanced Fund with 64 subscribers achieved N198.615m.
The funds, which opened from July 10 and 28, 2017 at N1.00 per unit, offered all categories of investors, three viable options in line with domestic economic and financial market conditions, an opportunity to diversify their investment portfolios while relying on the experience and performance track record of the Coronation Brand to ensure their investments attain its required financial outcome.