As of January 31, 2104, out of about N155.642 billion recorded as Net Asset Value (NAV) for Collective Investment Schemes (CIS), the NAV of 16 equity based -funds regulated by the Securities and Exchange Commission (SEC) were valued at N46.144 billion.
This was a decline from N47.214billion recorded in the preceding week of January 24, 2014. While NAV of some funds are growing in line with market sentiments, most of them report slim earnings per unit. For instance, there are 16 equity based funds under different fund managers. These are: Stanbic IBTC Nigerian Equity Fund (with NAV of N14.568bn).
Details of the report on CISs at the SEC show that as of January 31, 2014, the unit price of Stanbic IBTC Nigerian Equity Fund was N11, 793.53. The Fund’s total net profit as of December 31, 2013, was N3.672 billion.
The number of units of the equity fund as of December 31, stood at 1,252,393; earnings per unit was N2, 932.48, while net asset value per unit was N11, 632.27
ARM Discovery Fund recorded NAV of N5.835 billion. Its unit price was N329.14 in the review period. Total net profit as at end of last year was N171.046 million, while the number of units stood at 18,338,147. Earning per unit as at December 31, 2013, was N9.33; while NAV per unit stood at N318.20.
Coral Growth Fund which recorded a NAV of N4.274billion had its unit price at N2, 631.56. Total net profit as at December 31 was N83.571million with number of units at 1,637,463. Earning per unit was N51.04 while net asset value per unit was N2, 610.62.
Nigeria International Growth Fund recorded an NAV of N2.557billion. Its unit price was N1.81. Total net profit as at December 31 2013 was N28.657million. Number of units as at end of December was 1,137,957,711. Earning per unit was N0.03, while NAV per unit of the fund was N2.25.
As at January 31, 2014, Legacy Fund recorded NAV of N933.116million. The unit price of Legacy Fund was N1.46. Total net profit as at December 31 was N204, 076.97; the apex regulator put the fund’s number of units at 597,874,753. The fund recorded zero earnings per unit while NAV per unit was put at N1.56.
The NAV of IMB Energy Master Fund was N597.353million. The unit price of the fund was N2.56 as at January 31.
Its total net profit at the end of December 2013 was N23.096million; while number of units of the Fund was put at 237,808,415. Earning per unit as at end of December 2013 was N0.10; while its NAV per unit was N2.51.
Looking at the Frontier Fund managed by Sterling Capital Market Limited recorded an NAV of N168.776million as at the end of January 2014. Its unit price was N113.41. Total net profit as at December 31, 2013 was N245,590.93. The fund’s number of units was put at 1,525,572; its earning per unit as at end of December 2013 was N0.16; while NAV per unit was N110.63.
Denham Management Millennium Fund recorded N30.229million NAV as at January 31, 2014. The fund’s unit price was N4.99 as at the review period; while total net profit as at end of last year was N30, 325.59. The number of units was put at 6,055,107. Earning per unit was N0.01; while NAV per unit was N4.99.
The NAV of Paramount Equity Fund stood at N247.701million. The unit price was N13.83. The report at SEC shows that the fund reported a loss of N426,086.18 as at December 31, 2013. The report put the number of units of the fund at 17,896,354; while it recorded negative earnings per share of N0.02kobo; while N13.84.
Others are: UBA Equity Fund with NAV of N1.758billion. Its unit price was N1.06 as at January 31, 2014. The fund reported a loss of N9.435million in the period ended December 31, 2013. The number of units of the fund was put at 1,663,186,833. It recorded negative earnings of N0.01 as at December 2013. While NAV per unit was N1.06.
ARM Aggressive Growth Fund recorded N4.175billion in NAV. Its unit price was N16.58, while total net profit as at end of December 2013 was N137.288million. The fund’s number of units was put at 257,172,243. Its earning per unit as at December 2013 was N0.53; while Net Asset Value per unit stood at N16.24.
With unit price at N0.70 as at end of January, ACAP Canary Growth Fund recorded N1.428billion in NAV. The fund’s total net profit as at December 31, 2013 was N5.848million. The number of units as at December was 1,944,124,769. With zero earnings per unit, the fund’s NAV per unit stood at N0.73.
The NAV of Zenith Equity Fund was put at N4.310billion with unit price at N15.74. The fund’s total net loss as at December 31, 2013 was N280.968million. The number of units was put at 283,034,414. It recorded negative earnings per unit of N0.99; while NAV per unit was N15.23.
Afrinvest Equity Fund recorded NAV of N538.597million. Its unit price was N166.21; while total net profit was N564,989.84. The number of units of the fund is put at 3,263,325. As at December, its earning per unit was N0.17; while NAV per unit was N165.05.
Looking further, the NAV of BGL Nubian Fund stood at N262.634million. Its unit price was N1.09. The fund reported total net loss of N4.971million as at end of December 2013. The number of units was put at 238,110,652. It reported negative earnings per unit of N0.02; while its NAV per unit was N1.10.
Also, SIM Capital Alliance Fund recorded a NAV of N4.457billion. Its unit price was N103.50. As at December 31, 2013, the fund’s total net profit was valued at N152.146million; while its number of units was put at 32,096,786. Earning per unit was N4.74; while NAV per unit was N138.88.
Iheanyi Nwachukwu
