Leading financial services firm, Cordros Capital Limited and a member of the Nigerian Stock Exchange, NSE, on Monday, June 18, opened the Cordros Milestone Fund, CMF, 2023 and 2028 at N100 per unit, the firm said in an emailed statement to InvestAdvocate
Cordros says the CMF 2023 and 2028 are target-date mutual funds which pursue a long-term investment strategy to manage the asset allocation (mix of asset classes) of the fund, to become more conservative as the target date (2023 & 2028) approaches.
According to Cordros the target date funds, which are also called lifecycle funds, are designed to offer a convenient way to invest through a portfolio of assets.The funds are open-ended funds constituted under a Trust Deed and the units shall be continuously offered.
The benefits of the fund include giving investors capital appreciation benefits, diversification across asset classes, automatic rebalancing, automatic adjustment for changing risk profile, annual income and professional portfolio management.
The issue price is N100 per unit, minimum initial investment for the offer is N2,500 (25 units) while additional investments shall be 10 units thereafter.
The offer for the Cordros Milestone Funds 2023 and 2028 opens today – 18th June 2018 and application list will remain open till 27th July 2018.
