FCMB asset management rebrands funds, cuts investment entry thresholds

By Abubakar Yunusa

FCMB Asset Management Limited has secured approval from the Securities and Exchange Commission to execute supplemental Trust Deeds for its mutual funds, paving the way for the rebranding of its legacy funds and a reduction in minimum subscription units.
The company disclosed that the approval followed the successful conclusion of unitholders’ meetings, where investors voted in favour of the proposed changes affecting the mutual funds.
FCMBAM said the development formed part of its ongoing brand consolidation strategy aimed at aligning its investment products with the FCMB Asset Management identity.
The firm noted that the move reflected its commitment to disciplined, transparent and internationally benchmarked asset management services in Nigeria.
As part of the changes, the company also reviewed the minimum subscription thresholds for three of its mutual funds to make investments more affordable for retail investors.
The minimum subscription for the local currency bond-based FCMBAM Debt Fund was reduced from 25,000 units to 1,000 units.
Similarly, the minimum subscription for the FCMBAM Equity Fund dropped from 10,000 units to 1,000 units.
For the dollar-denominated FCMBAM USD Bond Fund, the threshold was cut from 1,000 units to 100 units.
However, the FCMBAM Money Market Fund retained its minimum subscription requirement of 1,000 units.
Commenting on the development, the company said the rebranding represented more than a change of name.
It stated, “This rebranding is more than a name change; it is a statement of intent.
“It signals to the investment community that FCMBAM prioritises the democratisation of access to professional investment management services, in line with our purpose of fostering inclusive and sustainable growth in the communities we serve.”
The company also appreciated unitholders for their support throughout the process and pledged to deliver stronger outcomes under its refreshed identity.