Guaranty Trust Fund Managers Limited Launches Guaranty Trust Investment Fund 724
Guaranty Trust Fund Managers Limited (“GTFML” or the “Fund Manager”), the asset management subsidiary of Guaranty Trust Holding Company Plc, today announced the launch of the Guaranty Trust Investment Fund 724 (“Fund 724”), an open-ended, naira-denominated Unit Trust Scheme duly authorised and registered by the Securities and Exchange Commission, Nigeria (SEC).
The Scheme lists 10,000,000 Units of ₦100.00 each in the Fund by way of Offer for Subscription and aims to distribute the capital growth it generates from a diversified portfolio of money market instruments, including fixed deposits, commercial papers, Nigerian Treasury Bills, and other short-term instruments to subscribers of the scheme. With a minimum subscription of ₦1,000.00 (one thousand naira only), Fund 724 offers every Nigerian an opportunity to earn more on their savings along with the flexibility of easy access and withdrawals. The scheme will track 91-day average Nigerian Treasury Bills’ yield of the preceding month.
Speaking on the launch of the Fund, Josephine Essien, Executive Director and Chief Investment Officer of GTFM Limited, said: “We are very excited to bring a retail product that empowers the every day Nigerian to compound the growth of their savings, whilst retaining the flexibility of withdrawals to meet their everyday needs. When most people think about asset management, they think of it as something that is reserved for a privileged few who already have significant financial resources. Guaranty Trust Fund Managers hopes to change this narrative with the launch of this retail product, Fund 724, that is designed to provide access to long term capital growth for the everyday Nigerian, who has as little as ₦1,000 to save.”
She also added, “We understand that financial independence is built over time, and our goal is to provide a flexible and transparent platform for wealth creation. Fund 724 offers retail customers competitive returns and combines ease of subscription with the flexibility of withdrawals, making it a practical solution for individuals at every stage of their financial journey.”
Guaranty Trust Investment Fund 724 will open for applications from September 30, 2024. Minimum subscription amount is ₦1,000.00, with additional units available in multiples of 10 lots.
