NOVAmbl Asset Management’s US Dollar Fixed Income Fund, a subsidiary of NOVA Merchant Bank, has been named the best-performing Dollar Fund in 2023 by Nairametrics, the leading financial information and content creation company, based on data provided by Nigeria’s Securities & Exchange Commission (SEC) last month.

The SEC (Nigeria) reported that a total of 21 dollar funds registered during the review period returned an average return of 8.5% for the period, and that all in the category achieved positive returns in 2023, led by NOVAmbl Asset Management’s Dollar Fixed Income Fund.

Reacting, NOVA Merchant Bank adduced the sterling performance to the dedication to excellence and its unwavering commitment to delivering consistent returns which have positioned NOVAmbl Asset Management at the forefront of the Asset management landscape in Nigeria.

The recognition, it said, affirms the bank’s expertise in navigating the complexities of the market and its ability to optimise investments for maximum returns.

Only recently, NOVA Merchant Bank Limited, the parent company of NOVAmbl Asset Management announced plans to begin its conversion to full Commercial Banking Business, following its recent requisition of the national commercial banking license from the relevant authorities.

Consequently, the bank  appointed Adebowale Oyedeji, as the new Managing Director and Chief Executive Officer to effectively stir its operations and deliver on its new mandate.

In another major development, NOVA Merchant Bank, not long ago, announced a substantial increase in staff salaries by up to 50% for all categories, another resounding indication of the bank’s commitment to its workforce.