This is a mutual/unit trust fund that represents a pool of funds from various individuals, joint and corporate investors with a long term investment objective, intended to spread their risk to realize a capital appreciation and appreciative returns on their investment in form of dividend.This is run by the Legacy-fund under the First city group.

Features:

The Legacy Fund seeks to provide investors who wish to realise an appreciable returns with minimum risk with income (dividends/rental income) as well as capital gains in the long-term, whilst simultaneously reducing the risk associated with pure equity investments.

The minimum initial investment is N10, 000 while the incremental/additional is N5, 000 minimum.

The Fund is being invested in a variety of ‘blue chip’ companies and industries with strong fundamentals, trading below their intrinsic values which offer the potential for accelerated earnings growth. Ultimately, the Fund’s assets will be distributed across a diversified universe of investments aimed at maximizing wealth creation.

Benefits:

The fund certificates can be used as collateral to secure credit facilities from any FCMB branches nationwide. Such facilities however should not exceed 50% of the client holdings.

The Education Investment Plan

This plan is a convenient and secure way to save for a child’s university education, in the USA,UK,SA, Ghana and Nigeria ,providing both educational and actuarial advice. The product aims to help parents and guardians build up a lump sum by investing periodically (monthly/quarterly/yearly) into an investment fund the bank will pay out when the plans end.

Features:

Education advice will be restricted to universities in the UK, US, South Africa, Ghana and Nigeria.

Projected benchmark return at prevailing MPR(Monetary Policy Rate)

Parents control assets until child reaches legal age

can be operated for an unborn child

Online application and online account access which enables investors to check their balance, review contribution history and investment performance online

Total amount contributed is guaranteed if investment is held for more than a year.

Investors are free to designate a different beneficiary at any time.

Funds are not frozen upon unlikely event of the demise of the investor if they take up a life insurance cover.

Initial minimum deposit is N250, 000 /N100,000.00 for Schools in the U.S., U.K., South Africa and N100, 000/N50,000.00 for Schools in Nigeria and Ghana

A charge of 5% of initial minimum deposit will apply in the event of early withdrawal from the plan

Benefits

• Convenience of contribution through direct debits
• Security of investment, professionally managed by leading asset managers
• Education advisory services
• Life insurance for investor (optional)
• Eligibility for tuition fee loans (subject to total amount contributed)
• Effective monitoring of the fund by independent Board of Trustees