- Advertisement -spot_img
34.3 C
Lagos
HomeTop NewsMutual Funds operators rise 34.2% to 102 in 2-year, with assets value...

Mutual Funds operators rise 34.2% to 102 in 2-year, with assets value of N1.43 trn ~NSE

- Advertisement -spot_img

By Samuel Bankole

 

The number of Mutual Funds registered with the capital market regulator, the Securities and Exchange Commission (SEC) jumped by 34.21 percent since 2019, reflecting the growing interest in the asset class, an official of the local bourse has said.

The Nigerian Stock Exchange (NSE) divisional head, listing Business Olumide Bolumole said number of registered Mutaul Funds has grown to 102 from 79 registered in 2019.

Bolumole said the Net Asset Value (NAV) of the Mutual Fund has also grown in excess of N600 billion to over N1.43 trillion within the same period.

He said 56 of the registered Mutual Fund are listed on the NSE with NAV of over N1.24 trillion, representing 88.3 percent of total NAV.

He said the growing number of listed Mutual Fund on the NSE confirms the Exchange as the preferred listing destination for this asset class.

READ ALSO: Boko Haram fighters attack Dikwa, retreat from town after abductions of aid workers

He said the Exchange will continue to strategically position itself to support the growth of fund managers and our stakeholders.

Last year, the Exchange admitted two mutual funds; N500 million ARM Fixed Income Fund and $1 million ARM Eurobond Fund on its memorandum listing platform.

Bolumole, who spoke at the NSE digital Closing Gong Ceremony to commemorate the election of Tope Omojokun as the President, Fund Managers Association of Nigeria (FMAN), commended the new FMAN president.

“I must also commend FMAN for its continuous collaboration in ensuring increased efficiency and investor participation in the Nigerian mutual funds market,” Bolumode said.

In her response, Omojokun expressed her gratitude to the NSE for the honour done to her.

She said FMAN was established to promote the operations of fund managers registered with the SEC and its objectives include self-regulation and supervision of its members; the enforcement of global best practices in its members’ operations, and most importantly, the education of the public on investments.

“Working with the NSE has brought about the trading of listed funds on The Exchange and are working towards the display of mutual funds prices on the ticker tape of the NSE.

“We are collaborating with the X-Academy to train our members and the public on adopting best investment practices and we look forward to other avenues to work together for the development of the capital market,” Omojokun said.

 

Join Our Mailing List!

* indicates required
- Advertisement -spot_img
- Advertisement -spot_img
Must Read
Related News
- Advertisement -spot_img