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Unit holders in FBN Heritage Fund are smiling to the bank as the fund yesterday paid its first dividend for the year ended March 31, 2013.
The heritage fund, which offer investors superior medium-to-long term earnings by investing in a diversified portfolio of equities, bonds and treasury bills, was created in April 2008 and FBN Capital Asset Management, a subsidiary of FBN Capital Ltd, the Investment Banking and Asset Management subsidiary of FBN Holding Plc will on Tuesday, December 10, 2013 pay its first dividend to its various unit holders.
The heritage fund, which offers investors superior medium-to-long term earnings by investing in a diversified portfolio of equities, bonds and treasury bills, was created in April 2008. It is managed by FBN Asset Management Limited, a subsidiary of FBN Capital Limited.
While the fund was floated in 2008, it did not record impressive performance as expected due to the downturn the market witnessed in 2008.
However, things have started looking up for the fund, a situation that has led to the payment of N10 dividend per unit.
Speaking at the annual general meeting of the unit holders in Lagos, Managing Director of FBN Asset Management Limited, Mr. Michael Oyebola, thanked the unit holders for their faith in the brand and entrusting their wealth with the company.
Oyebola said: “We would like to thank all our loyal unit holders who have put their faith in the FBN brand and entrusted our investment team with managing their money through the FBN Heritage Fund. Besides the consistently strong growth that investors should continue to expect, they can now also expect a reward of N10.00 per unit dividend.”
He disclosed that as at October 31, 2013, FBN Capital Asset Management has successfully turned around the N5.3 billion FBN Heritage Fund returning 28 per cent in 2012 and 15 per cent YTD in 2013.
“Our strong positive returns are as a result of our strategic positioning in the fund throughout the year and our ability to accurately anticipate and respond quickly to changes in debt and equity markets,” he said.
According to Oyebola, the FBN Heritage Fund is good for investors looking to build wealth through a single diversified portfolio and seeking long-term capital growth and competitive returns contact.