Afrivest West Africa is seeking new investors for its newly launched Dollar Fund. In emailed note to investors, Afrinvest West Africa Managing Director/CEO, Ike Chioke asked prospective investors to add the Afrinvest Dollar Fund (the “Fund”) in their investment portfolio.
“The Fund is an open-ended mutual fund which invests in dollar-denominated fixed income securities of the Nigerian government and corporate issuers.
The objective of the Fund is to achieve income generation and capital appreciation in the short to medium term (1-3 years),” he worte.
According to him, the Fund was targeted at both individual and institutional investors whether domiciled in Nigeria or overseas who desire exposure to dollar-denominated fixed income securities. In addition, investors with upcoming dollar obligations such as school fees, medical treatment, business and personal travel, training, etc, can use the Fund as a store of value.
“For investors with dollars liquidity sitting in the bank accounts, the Fund is designed to deliver significantly higher returns than what is presently obtainable from a commercial bank. Importantly, while the minimum amount required for access into the Eurobond market is $200,000, investors can now through the Fund enjoy most of the benefits of a thriving international fixed income market with as little as $1000”.
