7.5% Interest on $1,000: Afrinvest Launches Dollar Asset for Nigerian Investors
Nigerians looking to diversify their portfolio and protect their wealth against the repeated depreciation of the naira through investment in dollar-denominated assets now have an easy route to invest as Afrinvest Asset Management Limited launches an open-ended mutual dollar fund which pays as much as 7.5% interest per annum. The fund provides a significantly higher return compared to funds kept in a domiciliary account in Nigeria or current bank account in Europe or America.
Speaking during a live video conference session on the 5th of May, the Managing Director, Afrinvest Asset Management Limited, Ola Belgore said, “The Afrinvest Dollar Fund was created to help investors achieve income generation, capital preservation and portfolio diversification in the short to medium term. It is designed to deliver significantly higher returns and dividend will be paid twice a year.” Nigerians will be able to invest in the fund with as little as $ 1,000.
Another major benefit of the Afrinvest Dollar Fund is its flexibility. With a lock-in period of only 180 days, investors can exit after six months. Investors can also withdraw their funds even before the 180 days, albeit subject to a charge of 20% on the accrued interests on their investment. After the lock-in period, investors can withdraw their funds with the accrued interest completely or reinvest everything or a portion.
The Afrinvest Dollar Fund is a particularly good asset for Nigerians who have make payments abroad, such as school fees and mortgages or those planning to holiday abroad. It protects the value of their Nigerian incomes against inflation or devaluation. It is open to both Nigeria-based investors and clients based outside Nigeria with an interest in investing in the country while avoiding the political, legal and economic risks associated with forex trading.
The Afrinvest Dollar Fund invests in the Eurobonds of the Nigerian Government and those issued by Nigerian companies. It provides Nigerians with any opportunity to preserve and grow their capital without leaving Nigeria by having investing in dollar-denominated assets.
For details on how to sign up for the fund, you can contact the Afrinvest team here.
