New Money Market Fund Opens to Public from N10,000
A new money market fund offering two billion units at N1.00 each has opened for subscription, targeting retail and institutional investors seeking short-term, low-risk returns. The Berkshire Money Market Fund,
The Berkshire Money Market Fund, an open-ended unit trust registered with the Securities and Exchange Commission (SEC), has opened for subscription at N10,000, targeting both retail and institutional investors. The fund, managed by Berkshire Asset Management Limited, aims to provide capital preservation, liquidity, and competitive income returns, with its investments primarily directed towards short-term, investment-grade money market instruments.
The fund, which will be rated by DataPro Limited and audited by Ijewere & Co, will be benchmarked against the average yield of 91-day Nigerian Treasury Bills. Berkshire Asset Management Limited's Managing Director/CEO, Mr. Adetola Odusote, highlighted the significance of the launch in optimising capital allocation for economic development and democratising investment through technology.
Brief written by urgent.news from This Day's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
