Unit holders in all UBA Plc Mutual Funds were yesterday, at the annual general meeting (AGM) of the fund, rewarded with a 10 kobo dividend on each funds, with the management promising enhanced returns in the years ahead.
Speaking with newsmen at the meeting in
She said the company was able to achieve the feat because of its expertise in deploying funds into assets classes that it is sure will give adequate return to stakeholders.
While calling on Nigerian to embrace collective investment schemes and subscribe to UBA funds, she said doing so will ensure that their investment is in the hands of professionals with experience in funds management.
She disclosed that the fund manager plans to introduce new funds that are dedicated to dynamic assets classes with potential to consistently reward subscribers.
Reviewing the performance of the funds, she said all its four exiting funds which include,
According to her, "We are very pleased with the performance in the year under review. All our funds have done well.
"The balanced fund outperformed its peers and benchmark for balanced funds, due largely to the fund's exposure to equities in the financial year. The high exposure to equities was deliberate, given our conviction in the attractive returns and upside of the equities market earlier in the year. While the low return on the bond exposure marginally weighed down the return, the money market instruments delivered appreciable returns."
The performance of the equities fund, she added, was impacted by the lower return on fixed income assets.
"Whilst we were conservative in our allocation in line with the investment policy objectives, our selection within the equities market and investment in high yield, quarterly grade money market notes ensured appreciable performance of the fund," she said.
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