NIMED Capital Ltd launches IPO for NIMED Lifetime Unit Trust
NIMED Capital Limited, a fund management company licensed by the Securities and Exchange Commission (SEC) and the National Pensions Regulatory Authority with specialty in investment banking and fund management, has announced the launch of its new unit trust – The NIMED Lifetime Unit Trust.
The scheme, which was launched virtually on Wednesday, March 3, will focus on investing in the fixed income market.
On a regional level, 100 percent of the fund will be invested in securities within Ghana.
The NIMED Lifetime Unit Trust is an open-ended unit trust with the aim of investing in investment-grade fixed income securities that will provide investors with capital preservation, income and growth in the medium to long-term.
This will enable investors to meet their objectives of retirement, education, buying a home and many more.
The initial public offering (IPO) proposes to raise an initial subscription between March 3, 2021, and March 23, 2021.
It also has a minimum subscription of GH¢300 and thereafter in multiples of GH¢ 50 for investors.
“As we expect to rollout our first unit trust over the next few weeks, we are targeting an AUM of GH¢10 million to GH¢20 million in the first 2 years as we advise clients to take hold of their future by investing in the fund,” said Abena Brigidi, the Chief Executive Officer (CEO) of NIMED Capital Limited.
“Our focus will be on the fixed income market to generate good returns for the fund,” she added.
The CEO has worked on putting NIMED Lifetime Unit Trust as a good investment vehicle for both retail and institutional clients.
This move will deepen the competition in Ghana’s mutual fund industry.
Fidelity Bank are the trustees of the fund and the fund has a holding period of two years.
NIMED Capital Limited currently has multiple business lines in the investment banking sector.
It engages in the management of pension funds, institutional funds, private wealth and mutual funds.
It also has a corporate finance department that advises clients on raising funds.
Though 2020 was a challenging year, this year has seen some degree of recovery from the negative effects of the pandemic.
Source: classfmonline.com
Trending News
Curfew imposed on Sampa amid chieftaincy dispute
19:29NDC outdoors Naana Opoku-Agyemang April 24
11:46I am deeply saddened by the destruction caused by the recent fire at Madina Market-Alan Kyerematen
02:29New train crashes on test run
20:35Judgment day for former MASLOC boss, others today
11:14UEW distance education students call for MoE’s intervention over graduation requirement dispute
02:40Bawumia visits Madina market Friday
15:23Sign Ghana National Service Authority Bill into law – NSS begs Akufo-Addo
10:53MoH receives first batch of donated medical supplies after a year-long port delay
02:51Man allegedly shoots wife in Adaklu
15:01