MUTUAL FUNDS VALUE RISES BY N1.26BN IN APRIL

BY MICHAEL EBOH
The Net Asset Value, NAV, of mutual funds listed on the Memorandum Quotation segment of the Nigerian Stock Exchange, NSE, appreciated by N1.264 billion in one month, between March and April 2012.

Specifically, the mutual funds' value rose by 1.46 per cent to close at N88.1 billion for the month of April 2012, from N86.836 billion at which it ended the month of March.

The funds also appreciated by N525 million in one week, rising by 0.6 per cent from N87.575 billion at which it closed for the week ended, April 20, 2012.

Equity based funds, with a total NAV of N40.618 billion, recorded the highest valuation in April, followed by Real estate funds with a NAV of N16.334 billion and balance based funds recorded a NAV of N12.356 billion.

Money market funds' NAV stands at N7.01 billion, Ethical funds recorded NAV of N5.741 billion while Bond funds trailed with a total NAV of N5.428 billion.

Union Homes Real Estate Investment Trust Scheme, managed by Union Homes Savings and Loans Plc, recorded the highest NAV of N14.108 billion, followed by Stanbic IBTC Nigerian Equity Fund, managed by Stanbic IBTC Asset Management Limited with a NAV of N12.464 billion and Stanbic IBTC Money Market Fund also managed by Stanbic IBTC Asset, with a NAV of N6.79 billion.

ARM Discovery Fund, managed by Asset and Resources Management, ARM, Company Limited recorded a NAV of N4.637 billion; FBN Heritage Fund, managed by First Bank of Nigeria Plc, recorded NAV of N4.122 billion; SIM Capital Alliance Fund, managed by SIM Capital Alliance Limited's NAV stood at N3.453 billion and Zenith Equity Fund, managed by Zenith Bank Plc posted NAV of N3.448 billion.

Others are: Coral Growth Fund, managed by FSDH Asset Management Limited - N3.282 billion; Kakawa Guaranteed Income Fund, managed by Kakawa Asset Management Company Limited - N2.936 billion and Stanbic Ethical Fund, managed by Stanbic IBTC Asset - N2.849 billion among others.