By Peter Egwuatu
UNITED Capital Asset Management has blamed the lull in the stock market experienced in the first quarter of this year to the economic challenges being faced by the country.
Speaking during the listing of the two billion units of United Capital Wealth for women bond and 100,000 units of United Capital Nigeria Euro bond fund on the Nigerian Stock Exchange (NSE) in Lagos, the Managing Director, Mr. Jude Chiemeka, said “we designed these new products specifically to suit the changing needs of our clients. The two products will help in deepening the market and increase choice of investing in the Nigerian capital market.” He stressed that the listing followed the successful completion of the bonds’ initial public offering, which achieved subscription level of 52.67 per cent, with over 111 units holds and it remains open for subscription due to the open-ended structure of the fund.
He further stated that the Funds aim to meet the diversified investment portfolio needs of indigenous and global clients. Chiemeka added that the other newly launched Fund, the United Capital Wealth for Women Fund, aims to encourage women to imbibe a savings culture, provide an avenue for women to be financially independent and to create a sustainable foundation for women’s financial empowerment and development in Nigeria.