Investors have been advised to invest in the various funds in 2014 as the funds market is returning reasonable profits on investments. Modupe Mujota, CEO UBA Asset Management Limited , gave the advice at the 6th annual general meeting of various funds (Balance Funds, Mutual Funds, Equity funds and Money Market Funds) held in Lagos . She said the rising profitability in Funds investment is telling positively on the various funds she has managed. "Our shareholders are dividend on all our platforms. This year, two of our Mutual Funds are paying 15k per unit and the others are paying almost 12 kobo per unit which is almost better than some banks," she said. On profitability, she said the, "Equity Funds returned 39 percent, Balance Funds returned 36 percent, Bond Funds returned 14 percent and Money Market Funds returned 13 percent profits". "The growth was basically based on timely intervention from us. We saw opportunities in the market at some points and we cashed in on them. We are passionate about our customers and we always have our customers in mind who may want a steady income" she said. She noted: "Generally, the Mutual Fund market is still in its infancy. I believe there is much that can be done. The subscription is low but growing. There is a lot of support that we are also getting from the regulator - the Securities and Exchange Commission . The Director General, Aruma Oteh, is very keen on mutual fund and she has taken it to the market place. We are right behind her to deliver on the promises she has promised the market." On what the funds market should do to grow, she said she would love to see a situation where "people can electronically subscribe to the funds. If you can spend money using technology, you should be able to save money using technology. I believe that is the timely use of technology and we will get there soon and we are positioning for it," she added.
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