From February 7 to February 28, 2014, value loss witnessed in money market funds impacted negative on the net asset value of Collective Investment Schemes (CIS) regulated by the Securities and Exchange Commission (SEC).
The net asset value of CIS managed by different fund managers dropped from N168.025 billion to N165.849 billion.
In the period under review, the net asset value of money market fund declined by about N2.29 billion from a high of N45.978 billion on February 7, to N43.681 billion on February 28.
The money market funds: Stanbic IBTC money market fund; FBN money market fund; UBA money market fund, and ARM money market fund.
Detailed report at SEC shows that the net asset value of Stanbic IBTC money market fund dropped to N21.755 billion from N21.899 billion; FBN money market fund dropped to N18.491 billion from N20.561 billion; UBA money market fund declined to N184.694 million from N184.776 million, while ARM money market fund dipped to N3.249 billion from N3.332 billion.
Also on the negative trend was the asset value of bond funds that dropped by N186 million, from N16.005 billion to N15.819 billion.
Funds under the bond fund are: Stanbic IBTC Bond Fund, UBA Bond Fund, Nigeria International Debt Fund, BGL Sapphire Fund, Coral Income Fund, Kakawa Guaranteed Income Fund, Zenith Income Fund, FBN Fixed Income Fund, and Stanbic IBTC Guaranteed Fund.
The net asset value of Exchange Traded Fund (ETF) declined by N75 million, from N319.5 million to N318.750 million. Meanwhile, in the same period, asset value of equities based funds rose by N7 million from a low of N43.196 billion to N43.203 billion.
Real Estate Fund recorded N82 million growth in its net asset value from N43.585 billion to N43.667 billion. Balanced based fund asset value rose by N131 million, from N9.9 billion to N10.031 billion.
Also, asset value of Ethical funds rose by N86 million, from N6.572 billion to N6.658 billion; Umbrella Fund recorded N1 million growth in net asset value, from N2.467 billion to N2.468 billion.
