Afrinvest Asset Management Limited, manager of the Nigerian International Debt Fund, says it will pay an interim coupon of N20.76m to note holders on the register of the fund as of June 30, 2015.
The figure, according to a statement by the fund manager, amounts to N38.21 per note. August 13, 2014 has been chosen as the payment date for the coupon.
“The interim distribution is in line with the structure of the NIDF, as the Nigerian Stock Exchange-listed mutual fund, which invests in fixed income securities of federal and state governments, is designed to make distributions twice a year,” the statement said.
It quoted the Managing Director, Afrinvest Asset Management, Mr. Ola Belgore, as saying that the payment represented the 35th coupon in the life of the Fund, which started in 1997.
He said, “Since the restructuring of the fund in 2010, the NIDF has had an income return of 16 per cent and a total return of 42 per cent. As of December 31, 2014, the fund closed at N1,978.38, and as of June 30, 2015 it closed at N2,036.35.”
According to the statement, the NIDF offers investors safety, capital preservation, steady returns and investment diversification.
The fund is suitable for both individual and institutional investors such as pension fund administrators, insurance companies, asset managers and gratuity funds.
Afrinvest Asset Management Limited is licensed by the Securities and Exchange Commission as a fund/portfolio manager.
It is a subsidiary of Afrinvest (West Africa) Limited, a wealth advisory firm involved in investment banking, securities trading, asset management and investment research with a focus on West Africa.
In August last year, the Managing Director, Afrinvest West Africa Limited, the parent company of the fund manager, Mr. Ike Chioke, had been quoted as saying, “Dividends have become an important factor for investors to consider and, at Afrinvest, we are committed to providing value for our clients, helping them achieve their investment objectives.”
The statement had explained that the NIDF “invests in the domestic and international debt instruments of the Federal Government of Nigeria as well as those of the 36 States”.
It added, “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, insurance companies, asset managers and gratuity funds.”
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