By Chris Onuoha 

Cowry Treasurers Limited has announce the successful conclusion of its 1st Annual General Meeting (AGM) for the Cowry Fixed Income, Equity, and Balanced Funds for the year, 2023.

This was disclosed in the company’s AGM press release held in October 2024 and signed by the company’s Managing Director, Mr Charles Sanni, explaining how the company has recorded significant growth within one year of its inception. He also mentioned the company’s focus on enhancing the diversification of the Funds’ assets across style and sectors in an effort to give better return to unit holders.

Sanni noted that Cowry Treasurers Limited Funds assets was established in August 2022 and registered with the Securities and Exchange Commission (SEC) as an open-ended unit trust scheme and Funds have been governed by Trust Deeds, and have continued to meet their objective of providing investors with opportunities for capital preservation and enhanced returns.

Speaking further, he said the Funds target various investor classes, including High-Net-worth Individuals, Retail Investors, and Institutional Investors, who seek optimized returns on investment while mitigating risks, and by employing a diversified asset mix, the Funds balance returns from money market instruments, equities, and fixed income securities while effectively managing volatility. “The Funds are overseen by a highly skilled team of professionals, ensuring that unitholders benefit from collective investment opportunities, even if they lack the time or expertise to manage investments themselves,” remarked Sanni.

Explaining the company’s performance overview for the year 2023, he noted that the Cowry Balanced Fund, Cowry Equity Fund, and Fixed Income Fund, all demonstrated significant growth in 2023 that included a breakdown of Cowry Balanced Fund at 157.09% growth in Net Asset Value of ₦142,609,667.52 in year 2023 and ₦55,469,394.64 in year 2022.

Others are Cowry Equity Fund at 136.85% growth in Net Asset Value of ₦130,353,993.88 in year 2023 and ₦55,037,030.70 in year 2022, while Fixed Income Fund at 36.96% Growth in Net Asset Value of ₦72,157,230.59 in year 2023 and ₦52,686,146.00 in year 2022 respectively. 

In terms of return on investment (ROI), the Funds performed exceptionally well in 2023 bears Fixed Income Fund at ROI of 10.78%; Balanced Fund at  ROI of 28.16% and Equity Fund at ROI of 32.84%, respectively.

According to the statement, these returns are benchmarked against predefined metrics in the Trust Deeds, with assets securely and safely held by UBA GIS; and Coronation Trustee represents the Unitholders while First Registrar serves as the Registrar to the Funds.

“We continued to focus on enhancing the diversification of the Funds’ assets across style and sectors in an effort to give better return to unit holders. Broad positioning was skewed largely to take advantage of better returns on equities in both Balanced and Equity Funds based on sound fundamental analysis at the later part of the year based on the policy direction after the inauguration of the new Government of President Bola Ahmed Tinubu’ – said Mr Charles Sanni, MD, Cowry Treasurers Limited, on the fund strategy and performance.

In addition he disclosed that, “For the year ended December 31, 2023, Cowry Treasurers Limited is proposing the following dividend distribution: Cowry Equity Fund with Interim dividend of ₦6.44 per unit and final dividend of ₦6.68 per unit; Cowry Balanced Fund: Interim dividend of ₦5.24 per unit and final dividend of ₦6.18 per unit and Fixed Income Fund with Interim dividend of ₦3.23 per unit and final dividend of ₦2.77 per unit.”

According to him, this dividend proposal underscores the commitment of the Fund Manager to rewarding investors for their confidence and support.

On investors benefits, he outlined two major among other benefits that include Ease of Redemption: Cowry Treasurers prioritizes the ease of redemption for unitholders, ensuring a smooth withdrawal process and Convenience and Flexibility: The Funds offer investors flexibility and accessibility, making it easier to manage their investments.

“Additionally, Cowry Treasurers is in the process of developing a mobile app to further enhance investor convenience, supporting functions such as subscriptions, redemptions, and self-service investment monitoring. We can also be reached through our websites, www.cowrytreasurers.com,” Sanni added.

For new fund launches, he said, “Cowry Treasurers Limited is excited to announce the addition of two new products: Cowry Eurobond Fund and Cowry Dollar Note, which have been approved by the SEC. These products are designed to hedge against inflation and naira devaluation, offering investors an attractive avenue for wealth preservation and growth.

“To support ongoing investor education, we have also introduced monthly investment clinics, along with quarterly webinars hosted by our parent company, Cowry Asset Management Limited. These initiatives aim to keep investors informed on new opportunities and enhance their investment decision-making.

“Looking ahead, Cowry Treasurers Limited is actively working on the introduction of new Funds to expand its offerings, including Money Market Fund; Infrastructure Fund and Gender-Specialized Funds, aimed at empowering women through targeted investments. These new products are designed to cater to the evolving needs of investors, providing diverse opportunities for wealth creation and capital growth,” he added.