Legacy USD Bond Fund, a dollar mutual fund managed by FCMB Asset Management Limited (FCMBAM), has been ranked as the top United States Dollar (USD) mutual fund in Nigeria in the first half of 2020, by Nairametrics, a leading business and financial analysis company.
This impressive ranking, published in a research report by Nairametrics, was based on an assessment of the prices of USD mutual funds in Nigeria over a 6 months period, from January to June 2020.
This development is a recognition of the investment expertise and professionalism of the Fund Manager, FCMB Asset Management Ltd., a member of FCMB Group Plc.
Legacy USD Bond Fund, which is registered with the Securities and Exchange Commission ((SEC), gives investors the opportunity to invest in US Dollar denominated fixed income securities on a continuous basis and aids currency diversification. It seeks to generate stable income for investors by investing primarily in a portfolio of high quality, registered, and tradeable US Dollar fixed income securities.
Explaining the rationale behind the rating, Nairametrics stated that, "the Legacy USD Bond Fund is the best performing mutual fund if you are looking for dollar-denominated fixed-income debt securities like Eurobonds. At 24.4%, they seem to be holding bonds with good yields and market values respectively. Apart from the Bond Fund, managers of the Legacy USD Bond Fund also manage a Fixed Income Fund, a Money Market Fund and an Equity Fund. If you are looking to invest in Eurobonds then this mutual fund is the best performing".
Commenting on the feat, Chief Executive Officer of FCMB Asset Management, Mr. James Ilori, said, "we are delighted to, once again, be recognised for our commitment to assisting investors to achieve their investment goals. The increased interest in efficient currency diversification and portfolio risk minimisation among investors, makes the Legacy USD Bond Fund a necessary part of any portfolio construction strategy. We will continue to apply our wealth of local and international investment management expertise in creating value for our numerous clients”.
Legacy USD Bond Fund is easily accessible to the investing public both in Nigeria and the diaspora. In 2018, the Fund won the NSE CEO Award for "Fund Manager with the Largest Listed Fund Size". This followed an impressive 244.44 percent subscription in the Initial Public Offering (IPO) of the Fund.
FCMB Asset Management Limited also manages three other mutual funds – Legacy Money Market Fund, Legacy Debt Fund and Legacy Equity Fund. In addition to the four collective investment schemes, FCMB Asset Management offers clients discretionary and non-discretionary portfolio services, as well as execution-only mandates.
FCMB Asset Management Limited has consistently focused on delivering international standard investment management services, aimed at meeting investors’ investment objectives, in terms of capital protection, income generation, and capital growth.