Norrenberger group took the floor all of last week in Port Harcourt, showing well-heeled ladies and gentlemen how to invest. This week, its First Ally Asset Management Limited which for 10 years has been in Victoria Island, Lagos, and later to Wuse 11 in Abuja.
The firm headed by Biodun Arokodare as Chairman, and Olumayowa Ogunwemimo as Managing Director, is registered and regulated by the Securities and Exchange Commission, Nigeria. This is important because Port Harcourt people easily fall prey to Ponzi investment schemes.
FAAM is said to be the asset management subsidiary of First Ally Capital Limited, said to be an innovative, proactive, and client-centered firm licensed by the Securities & Exchange Commission (SEC) and rated A-(IM) by Agusto & Co.
To tease PH investors, the company waved its financial strength thus: “We currently manage assets in excess of ₦150 billion with over 10 years in Operation. FAAM offers a wide range of investment solutions across asset classes—including cash, fixed income, and equities—on both pooled and segregated bases. Our client base includes institutional investors as well as private clients (high-net-worth individuals).”
On product offerings, the firm in a newsletter made available to BusinessDay in PH said: “The Fixed Rate Note Naira and Dollars is targeted at institutional and private clients looking to lock in competitive rates for their investment. This is an instrument with a short-term investment maturity, usually between a fixed period of 90-365 days.”
The report said the FAAM HYIS is a pooled investment scheme that provides clients with attractive returns on their investment, due to the firm’s ability to buy instruments directly and negotiate favourable terms, based on the size of their AUM.
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“This product provides a higher rate of return compared to a savings account; Interest rate fluctuates based on market realities.
“There is also the Money Market Fund (MMF) which is a SEC-registered Collective Investment Scheme that offers a wide range of investors the opportunity to invest in a variety of short-term money market instruments.
“The Fund aims to generate income and preserve capital by investing only in instruments approved by the Securities & Exchange Commission.
“The product offers Low entry point, no holding period, zero fees – every Naira works for you, rated ‘A(f)’ by Agusto & Co, Open-Ended, listed on FMDQ, interest rate fluctuates based on market realities. The current indicative rate is 18%. Treasury Bills are government securities issued by the Central Bank of Nigeria.”
There are Federal Government Bonds which are issued and guaranteed by the FG of Nigeria while Corporate Bonds are issued by Large Corporates so investors can enjoy security. “These funds are suitable for institutional and corporate clients who are interested in easily trade able and tax-free investment options. The minimum investment is N50Million, Coupons are paid twice a year, and it can serve as collateral for borrowing.”
The group has Eurobonds, too. “Predominantly, we utilize bonds from Nigerian issuers (Sovereign and non-sovereign); and sometimes bonds from non-Nigerian issuers where the risk/return profile is favourable and the issuer is well known.”
