SFS Capital Nigeria Limited (a member of the Skye Financial Services Group) recently introduced into the market an investment product called SFS Fixed Income Fund.
The investment product is a collective investment scheme registered by the Securities and Exchange Commission and has a top rating of AA (Double A).
According to the prospectus, the Fund has a target to give all investors a minimum return of 12 percent per annum, irrespective of the time of entry and exit. Provided funds remain with the fund manager for at least one month. Exit from the investment takes maximum of five days after a request is made.
The investment product invests exclusively in Fixed Income Products such as Federal Government Bonds and CBN Treasury Bills (with ‘AAA’ rating) and Blue Chip corporate Bonds and commercial papers with a minimum of ‘A’ rating. Other parties to the fund include: Skye Trustees (Trustees), Skye Bank plc (receiving bank), Securities Africa Financial Services (Stockbroker) and Stanbic IBTC plc (Custodian).
It is the first investment product to utilise the NIBSS standing instruction platform, which enables both local and international investors participate in the investment process through standing instructions from any Nigerian bank with as low as N10,000.00, by completing a simple form. It is also eligible for institutional investment by Trustees, insurance companies, cooperative societies and Pension Funds due to its ‘AA’ rating and SEC registration. The Fund Manager: SFS Capital Nigeria Limited is a member of the Skye Financial Services Group.
