Risevest to Launch Mutual Funds, Other Investment Plans

Nigeria's leading digital investment platform, Risevest, plans to introduce three mutual funds and a product tailored for businesses with money management capabilities. At a recent event in Lagos, Risevest's Product Manager, Ebube Ilo, revealed that the firm has observed significant shifts in the Nigerian economy over the past two years, such as the stabilization of the exchange rate, decline in benchmark interest rates, and strong growth in NGX.

To adapt to these changes, Risevest is launching three funds catering to different investment goals. The Risevest Naira Equity Fund aims to achieve growth by actively managing investments in Nigeria's top-performing listed companies across six sectors: financial services, consumer goods, ICT, oil and gas, industrial goods, and agriculture.

The Risevest Dollar Fund will consist of professionally managed, low-risk investments in dollar-denominated instruments, including Nigerian government eurobonds, corporate eurobonds, and money market instruments. Meanwhile, the Risevest Money Market Fund, a money market fund, will invest in short-term, low-risk instruments like treasury bills, fixed deposits, commercial papers, and certificates of deposit.

These funds, upon launch, will be managed by RV Fund Management Limited, Rise's SEC-licensed fund manager. Rise Business, a multi-currency account designed for Nigerian companies operating across borders, will be introduced alongside the funds. Co-Founder and Chief Product Officer, Tony Odiba, emphasized that this move aligns with the company's mission to provide Africans with access to wealth-grade opportunities.