UBA Mutual Funds Reward Unit Holders with Dividends

Source: huhuonline.com

Three Mutual Funds being managed by UBA Asset Management Limited posted appreciable returns to unit holders at the end of the year ended March 31, 2011, according to the fund mangers.

The United Bank of Africa Plc (UBA) mutual funds comprised of UBA Balanced Fund, UBA Money Market Fund, UBA Bond Fund and UBA Equity Fund.

 Specifically, unit holders present at the 4th Annual General Meeting (AGM) of the UBA Mutual Funds were delighted and unanimously approved the payment of 10k, 10k and 8k dividends for UBA Balanced Fund, UBA Bond Fund and UBA Money Market Fund proposed by the fund manager respectively.

 Speaking at the AGM, Managing Director, UBA Asset Management Limited , Mr. Haruna Jalo-Waziri, said that the UBA mutual funds would continue to provide shareholders with good returns on investments as the fund mangers were gearing up for the challenges posed by the present economic climate.  'We are optimistic that investors will have good reason to continue to put their funds in our portfolio given the fact that UBA Mutual Fund will always ensure good returns to investors,' he added. 

  Mr Jalo-waziri assured unit holders of better returns in the coming years adding that UBA Asset Management Limited possessed world class investment team with expertise in conducting research into the market with a view to ensure that investors' funds were invested in equities that guaranteed long-term returns to investors.

  The unit holders were delighted by the dividend payout and commended the Fund Managers for effective management of their Funds. 

In his comment, a unit holder, Mr Remi Olatubode representing Christ Crusade Investment Limited commended the proposed dividend payout, noting; 'It was a very good investment, especially in this time of economic downturn,' even as he thanked UBA Asset Management Limited for living up to its billings.

The well attended AGM had in attendance Union Trustees, (Trustees to the Funds); Akintola Williams Deloitte, (Auditors to the Funds); representatives of the Nigerian Stock Exchange (NSE), and Securities and Exchange Commission (SEC) among other stakeholders.