By Rosemary Iwunze

Norrenberger, an integrated financial services group, has launched the Norrenberger Dollar Fund, designed to help investors hedge their savings from the effects of inflation and devaluation.

The Group Managing Director, Mr. Tony Edeh, made this known during the official launch of the Fund in Abuja.

The Norrenberger Dollar Fund, approved by the Securities and Exchange Commission (SEC) is an open-ended mutual fund designed to provide investors with capital appreciation and diversification.

The Fund invests in highly liquid investments that provide liquidity to investors and will invest in Eurobonds issued by governments and corporates and dollar denominated money market instruments and cash.

Also, the Fund which opened for subscription on December 19, 2022, has a minimum subscription amount of $500 and an additional subscription amount of $100 which means that investors can add to their investments at any time.

Speaking on the product, Ede said: “The launch of the Norrenberger Dollar Fund comes at the right time to help investors diversify their portfolio while also helping those with US Dollar obligations hedge against currency risk”.

Commenting also, Business Head, Asset Management, Mrs. Abigail Utomi, said that the objective of the Fund is to provide investors with the opportunity to invest in dollar-denominated instruments that help to mitigate the eroding effects on their investments due to the constant devaluation of the local currency, Naira.

“Investors can enjoy significantly higher returns than the average domiciliary account.

“The Fund is targeted at retail and high net worth individuals, corporates, institutional investors and Africans in diaspora who desire exposure to Dollar denominated Fixed Income Securities.”