The Nigeria International Debt Fund (“NIDF”), a mutual fund listed on the Nigerian Stock Exchange (NSE) that invests in fixed income securities of Federal and State Governments, has been rated “A-” by Global Credit Rating Company (GCR).
This rating by one of the leading global rating agencies is among the best for mutual funds in the market today.
In rating the NIDF, GCR took cognisance of the management quality of the Asset Manager, Afrinvest Asset Management Limited, as well as the consistency of the team of individuals managing the fund, says a report prepared by GCR.
According to the report, “The fund’s 3-year performance track record (in terms of return on investment) to 31 December 2013 is considered satisfactory, averaging 12 percent annualised, which compared favourably with the minimum return expectation of 10 percent.”
The report also noted that the accorded rating reflects the credit quality of the fund’s assets, comprising mainly high investment grade rated sovereign and municipal bonds as at FYE13.
Ola Belgore, managing director, Afrinvest Asset Management Limited, said that the high rating of the NIDF by GCR is testament to the firm’s professionalism and adherence to global best practices, as well as its commitment to providing value for clients’ investments.
Belgore also reiterated, “NIDF offers investors safety, capital preservation, steady returns, diversification and value, and has a consistent dividend history making it quite attractive for both individual and institutional investors such as Pension Fund Administrators (PFAs), insurance companies, asset managers and gratuity funds.”
The Nigerian International Debt Fund (NIDF) is a privately managed, collective investment scheme, mandated to invest in a collection of domestic (federal or state government issued) fixed interest securities.
Source : BusinessDay