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RT Briscoe Launches New Money Market Fund
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RT Briscoe Nigeria Plc has finally launched the R.T. Briscoe Savings and Investment Fund. The launch followed the approval from the Securities and Exchange Commission (SEC).
The fund is the first to allow investors to save within a regulated vehicle towards investing in the capital of a target company.
It marks a significant step in RT Briscoe’s commitment to providing innovative opportunities to its existing and potential shareholders to invest in the company with a savings plan.
RT Briscoe Launches Money Market Fund
In a statement released by the company, the initiative ensures that investors can own a stake in R.T. Briscoe Nigeria Plc with very little initial capital. This makes it accessible to a broader range of investors and democratizes investment opportunities within the company.
The fund is managed by DLM Asset Management Limited who recently won the best Asset Management company of the year at the African Industrial and Development Conference and Awards.
This accolade underscores their commitment to ensuring expert oversight and strategic investment decisions.
Also, First City Monument Bank Limited serves as the custodian, while UTL Trust Management Services acts as the trustee, providing additional security and transparency.
RT Briscoe Launches Money Market Fund, To Achieve Investment Goals
The fund comprises 1,000,000 units available for subscription, providing many opportunities for investors.
Additionally, the fund offers liquidity, allowing easy access to investments and the final option to convert the investor’s holdings into equity ownership in R.T. Briscoe Nigeria PLC.
With a minimum subscription of 10 units at N1,000 per unit, the fund is accessible with a minimum investment of N10,000.
Conclusion
Seyi Onajide, Group Managing Director and Chief Executive of RT Briscoe Nigeria Plc, expressed his enthusiasm about the launch.
He said, “We are thrilled to introduce the R.T. Briscoe Savings and Investment Fund, demonstrating our dedication to providing reliable and accessible investment opportunities. These opportunities empower all investors to achieve their investment goals in our company with ease.
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“This launch underscores our commitment to innovation and growth, offering clients an opportunity to save to own a part of R.T. Briscoe Nigeria PLC.
“We believe this fund will not only ultimately enhance our capital position, but also reinforce our leadership across our diverse businesses, including Automobile, Industrial Air Compressor, Material Handling, Industrial Equipment, Power, and Real Estate.”
