Lagos, Nigeria – The much awaited Cordros Dollar Fund was formally launched yesterday in Lagos.

The Purpose of the event was to formally present the Dollar Fund and enlighten investors about the features and benefits of having a dollar-denominated investment in one’s portfolio.

Giving the introductory speech, the Chairman of Cordros Asset Management Limited, Emeka Ndu chronicled the growth of Cordros saying, ‘Cordros started as a stockbroking business about 12 years ago and has grown into a financial service group that consistently provides investment solutions that suits various classes of investors. We now have a total of 4 mutual funds, Cordros Money Market Fund, Cordros Milestone Fund 2023, Cordros Milestone Fund 2028 and the new Cordros Dollar Fund and this is a testament of our sustained growth over the years’. He went on to speak on the relevance of the Fund saying, ‘Cordros Dollar Fund is highly beneficial to investors; especially at a time when investors need to protect their investments from the eroding effect of inflation.

According to the Managing Director of Cordros Asset Management Limited, Morenike Da-silva, ‘A good number of Nigerians have dollar obligations for academic and medical tourism. She stressed the importance of having dollar-based investment for individuals who have dollar obligations.

Cordros Dollar Fund was created to enable Nigerian investors who desire exposure to USD denominated investments to achieve capital appreciation in the medium to long term. The Fund has a minimum subscription amount of $500 and an additional subscription amount of $500. ‘Investors who have been discouraged by high entry levels for US-based investments can now invest their US Dollars conveniently’ said Adegbolahan Aina, the portfolio manager.

The event had an interactive question and answer segment where the fund manager was engaged by participants and the press. It was indeed a learning session as all features of the Cordros Dollar Fund were laid bare, benefits revealed and investment approach explained.

In his closing remarks, the Group Managing Director, Wale Agbeyangi said, ‘Cordros Asset Management Limited has consistently played in the top tier of Nigeria’s investment management space with an excellent track record of delivering exceptional value to clients. Being a customer-focused company, Cordros was one of the first Fund Managers to adopt a T+0 redemption period in the Money Market Mutual Fund space’.

The Cordros Dollar Fund is offering 20,000 units of $100 each and the application list opened on Monday, November 25 and will close on Friday, December 27, 2019. The minimum subscription amount is $500 (5 Units).