The good times are here for investors in the Nigerian International Debt Fund (NIDF) – an NSE listed mutual fund.
They stand to receive an interim dividend of N60.71 per note as the Fund Managers, Afrinvest Asset Management Limited, commenced payment on August 13, 2014. The N60.71 coupon per note is well above the initial estimated dividend payment of N36.00 per note.
The good news was contained in a statement released by the firm, “The number of qualified notes on the register of the NIDF as at the closure date of July 29, 2014 stood at 727,515.1892, and a total of N44, 167,447.1363 will be distributed to all note holders at N60.71 per note.”
“Dividends have become an important factor for investors to consider and, at Afrinvest, we are committed to providing value for our clients, helping them achieve their investment objectives”, said Ike Chioke, Managing Director of Afrinvest West Africa Limited, the parent company of the Fund Manager.
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.
Afrinvest Asset Management Limited is licensed by the Securities & Exchange Commission as a Portfolio Manager. It 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.