Afrinvest plans to pay note holders of the Nigerian International Debt Fund (NIDF) – an NSE listed mutual fund – a minimum of N40.00 per note holder as final coupon to investors for the year ending December 31, 2014. A total of N25,190,667.56 will be distributed amongst note holders on the register of the fund as at the closure date of February 5, 2015.
According to Ola Belgore, Managing Director of Afrinvest Asset Management Limited – the Fund Manager – this is the 34th coupon in the life of the Fund since its launch in 1997, and the final distribution is in line with the structure of the NIDF, as the Fund is designed to pay distributions twice a year.
In his words, “NIDF paid an interim coupon of N60.71 per note in August 2014 and, with an estimated N40.00 per note to be paid on February 11, 2015, the total payment for the 2014 Financial Year stands at N100.71.”
“The Fund closed the year at a price of N1, 978.31 per note achieving a N68.51 capital gain over the opening price for 2014. At the trading price of N1987.26 on Wednesday, January 21, 2015 the coupon yield was 5.1%”, Belgore added.
The Nigeria International Debt Fund invests in the domestic and international debt instruments of the Federal Government of Nigeria as well as those of the 36 States.
NIDF offers investors safety, capital preservation, steady returns, diversification and value, and has a consistent dividend history making it quite attractive for both individual and institutional investors such as Pension Fund Administrators (PFAs), insurance companies, asset managers and gratuity funds.
Only recently, the NIDF was rated “A-” by Global Credit Rating Company (GCR). This rating by one of the leading global rating agencies is among the best for mutual funds in the market today.
Afrinvest Asset Management Limited is a subsidiary of Afrinvest West Africa Limited, a wealth advisory firm involved in investment banking, securities trading, asset management and investment research with a focus on West Africa.
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