By Peter Egwuatu
The Nigerian capital market has opened a new vista of opportunities with the launch of mutual fund by GTI Group, a leading finance and investment group for the development of Nigerian sports ecosystem.
The N5 billion Nigeria Football Fund (TNFF) is a collective investment scheme or mutual fund that combines the regular advantages of a mutual fund with unique propositions of a structured fund.
TNFF managed by GTI Asset Management & Trust Limited, is raising N5 billion through an initial public offering (IPO) of 5.0 billion units at a par value of N1 per unit. Minimum subscription to the fund is 100,000 or N100,000 and thereafter in multiples of N100,000. Application list for the offer opened last Tuesday, March 22, 2022. The TNFF is registered as an open-ended fund by Securities and Exchange Commission (SEC).
Speaking at the formal launch of the fund in Lagos, Former Deputy Governor of Lagos State, Otunba Femi Pedro, said the TNFF has come to fill the missing link in the development of Nigerian sports.
According to him, the TNFF provides a unique vehicle to mobilise private sector funding for sports development, thus enabling the sector to contribute significantly to national economic development.
He stated: “This is an historic occasion, a milestone in the development of Nigerian sports. I have no doubt that this will unlock the potential of the sports ecosystem. I personally endorsed this project. There is no shortage of investment assets in the sports industry and I’m sure investors will get good returns.”