MUTUAL FUNDS PART 6: EXAMPLES OF MONEY MARKET FUNDS
Dear Investors. As we continue our series on mutual funds, we have explored various types over the past 5 weeks. This week, in Part 6, we will focus on examples of money market funds. These funds are known for their stability and liquidity, making them a popular choice for conservative investors. Shall We?
1. AIICO Money Market Fund
- Managed by: AIICO Capital Limited
- Custodian: UBA
- Rating: A+(NG)f by GCR Ratings
- Fund Size: N4.71 billion (as of December 22, 2023)
- Yield: 14.24%
- Portfolio: 37% fixed deposits, 25% treasury bills, 24% commercial papers
- Minimum Investment: N10,000
2. Stanbic IBTC Money Market Fund
- Managed by: Stanbic IBTC Asset Management Limited
- Rating: Aa-(f) by Agusto & Co.
- Fund Size: N375.7 billion (as of December 22, 2023)
- Yield: 13.25%
- Portfolio: 27.98% bonds, 3.77% equity, 67.74% money market, 0.51% cash
- Minimum Investment: N5,000
- Income Distribution: Quarterly
3. Meristem Money Market Fund
- Managed by: Meristem Wealth Management Limited
- Custodian: Standard Chartered Bank
- Rating: A(f) by Agusto & Co.
- Fund Size: N3.63 billion (as of December 22, 2023)
- Yield: 12.73%
- Portfolio: 48.3% treasury bills, 17.14% commercial papers, 32.7% fixed deposits, 1.8% cash
- Minimum Investment: N10,000
4. Norrenberger Money Market Fund
- Managed by: Norrenberger Investment and Capital Management Limited
- Custodian: UBA
- Rating: Bbb+(f) by Agusto & Co.
- Fund Size: N4.71 billion (as of December 22, 2023)
- Yield: 12.54%
- Minimum Investment: N5,000
- Subsequent Contributions: N1,000
5. FBN Money Market Fund
- Managed by: FBNQuest Asset Management
- Rating: Aa-(f) by Agusto & Co.
- Fund Size: N195.78 billion (as of December 22, 2023)
- Yield: 12.15% (as of January 4, 2024)
- Portfolio: 7% commercial papers, 15% treasury bills, 78% bank placements
6. AXA Mansard Money Market Fund
- Managed by: AXA Mansard Investments Limited
- Custodian: RMB Nominees
- Rating: A+(f) by Agusto & Co.
- Fund Size: N43.71 billion (as of January 8, 2024)
- Yield: 11.66%
- Portfolio: 67.18% fixed deposits, 25.59% treasury bills, 6.65% commercial paper
- Minimum Investment: N2,000
7. ARM Money Market Fund
- Managed by: ARM Investment Managers
- Custodian: Citibank Nigeria Limited
- Rating: A+(f) by Agusto & Co.
- Fund Size: N79.94 billion (as of January 7, 2024)
- Yield: 10.52%
- Portfolio: Government securities and money market instruments
- Minimum Investment: N1,000
CONCLUSION:
If you are looking to invest in money market funds, you may consider any of these. Next week, we will look at examples of mutual funds in general, providing a broader perspective on the variety of options available to investors. Stay tuned!
Dear Investors. As we continue our series on mutual funds, we have explored various types over the past 5 weeks. This week, in Part 6, we will focus on examples of money market funds. These funds are known for their stability and liquidity, making them a popular choice for conservative investors. Shall We?
1. AIICO Money Market Fund
- Managed by: AIICO Capital Limited
- Custodian: UBA
- Rating: A+(NG)f by GCR Ratings
- Fund Size: N4.71 billion (as of December 22, 2023)
- Yield: 14.24%
- Portfolio: 37% fixed deposits, 25% treasury bills, 24% commercial papers
- Minimum Investment: N10,000
2. Stanbic IBTC Money Market Fund
- Managed by: Stanbic IBTC Asset Management Limited
- Rating: Aa-(f) by Agusto & Co.
- Fund Size: N375.7 billion (as of December 22, 2023)
- Yield: 13.25%
- Portfolio: 27.98% bonds, 3.77% equity, 67.74% money market, 0.51% cash
- Minimum Investment: N5,000
- Income Distribution: Quarterly
3. Meristem Money Market Fund
- Managed by: Meristem Wealth Management Limited
- Custodian: Standard Chartered Bank
- Rating: A(f) by Agusto & Co.
- Fund Size: N3.63 billion (as of December 22, 2023)
- Yield: 12.73%
- Portfolio: 48.3% treasury bills, 17.14% commercial papers, 32.7% fixed deposits, 1.8% cash
- Minimum Investment: N10,000
4. Norrenberger Money Market Fund
- Managed by: Norrenberger Investment and Capital Management Limited
- Custodian: UBA
- Rating: Bbb+(f) by Agusto & Co.
- Fund Size: N4.71 billion (as of December 22, 2023)
- Yield: 12.54%
- Minimum Investment: N5,000
- Subsequent Contributions: N1,000
5. FBN Money Market Fund
- Managed by: FBNQuest Asset Management
- Rating: Aa-(f) by Agusto & Co.
- Fund Size: N195.78 billion (as of December 22, 2023)
- Yield: 12.15% (as of January 4, 2024)
- Portfolio: 7% commercial papers, 15% treasury bills, 78% bank placements
6. AXA Mansard Money Market Fund
- Managed by: AXA Mansard Investments Limited
- Custodian: RMB Nominees
- Rating: A+(f) by Agusto & Co.
- Fund Size: N43.71 billion (as of January 8, 2024)
- Yield: 11.66%
- Portfolio: 67.18% fixed deposits, 25.59% treasury bills, 6.65% commercial paper
- Minimum Investment: N2,000
7. ARM Money Market Fund
- Managed by: ARM Investment Managers
- Custodian: Citibank Nigeria Limited
- Rating: A+(f) by Agusto & Co.
- Fund Size: N79.94 billion (as of January 7, 2024)
- Yield: 10.52%
- Portfolio: Government securities and money market instruments
- Minimum Investment: N1,000
CONCLUSION:
If you are looking to invest in money market funds, you may consider any of these. Next week, we will look at examples of mutual funds in general, providing a broader perspective on the variety of options available to investors. Stay tuned!
