Vetiva Fund Managers Limited has launched the DV Balanced Fund via an initial public offering (IPO) of 20,000,000 units at N100 each.
The application list opened on April 14, 2014, and will close on May 26, 2014. The DV Balanced Fund is an open-ended Unit Trust Scheme that seeks to invest in a range of securities, including quoted equities and fixed income securities. The Fund will employ a strategy which achieves consistent growth primarily from a well-diversified portfolio of stocks. The asset mix will also seek to mitigate volatility associated with equity investments by allocating a portion of the Fund’s assets to Money Market and Fixed Income Instruments.
Following the completion board meeting in respect of the IPO, Damilola Ajayi, managing director, Vetiva Fund Managers (Fund Manager to the DV Balanced Fund), commented that “the Fund is targeted at prudent investors with medium risk appetite who wish to achieve capital appreciation over the medium to long term.”
Chuka Eseka, chairman, Vetiva Fund Managers, also commented that “the DV Balanced Fund provides an opportunity for Investors to take advantage of investments in Nigerian equities whilst managing their risk exposure.”
Vetiva Fund Managers recently listed the first Equity-Based Exchange Traded Fund in Nigeria, The Vetiva Griffin 30 ETF (www.vetiva.com/funds), on the Nigerian Stock Exchange. Vetiva Fund Managers Limited is a wholly owned subsidiary of Vetiva Capital Management Limited and is registered with the Securities and Exchange Commission as a Fund/Portfolio Manager
