NIGERIAN INTERNATIONAL DEBT FUND TO PAY N20M ITERIM COUPON

Afrinvest Asset Management Limited, Manager of the Nigerian International Debt Fund (NIDF), is set to pay the sum of N20, 761,656.59 as interim coupon to be distributed amongst note holders on the register of the Fund as at June 30, 2015. This amounts to N38.21 per note.

The interim distribution is in line with the structure of the NIDF, as the NSE-listed Mutual Fund, which invests in fixed income securities of Federal and State Governments, is designed to make distributions twice a year.

According to the Managing Director of the firm, Ola Belgore, “This payment will represent the 35th coupon in the life of the Fund, which started in 1997. Payment date for the coupon has been slated for August 13th, 2015.”

Belgore also noted, “Since the restructuring of the Fund in 2010, NIDF has had an Income Return of 16% and a Total return of 42%. As at December 31, 2014 the Fund closed at N1, 978.38, and as at June 30, 2015 it closed at N2, 036.35.”

NIDF offers investors safety, capital preservation, steady returns and investment diversification. The Fund is suitable 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 Fund/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.