‘N160bn Mutual Funds Invested In Nigeria’

The Deputy Chief Ex
ecutive Officer, ARM Investment Managers, Mrs Jumoke Ogundare, has  said that about N160 billion mutual fund was invested in the country in the first quarter of 2014.
Ogundare made this known in Abuja while presenting a paper on “Collective Investment Scheme” at the 2014 SEC Journalists’ Academy organised by the Securities and Exchange Commission.
Citing data from the International Investment Funds Association comprising 45 countries.
She said that 30.8 trillion dollars was similarly invested globally in the first quarter of the year.
She explained that mutual fund “is money pooled from different investors and invested in such areas as stock, bond, and short-term money-market instruments.
”They are operated by money managers, who invest the funds and attempt to produce capital gains and income for the funds’ investors,” she said.
Ogundare stated that the funds could be bought either through a broker or directly from the company and were usually open-ended.
According to her, the funds are grouped according to their characteristics to make it easier for investors to make informed choices.

Engr. Ishaaq Yahaya, (left), with Ex-Officio, Nigeria Institute of Quantity Surveyors, Rivers State Chapter, Mr. Arinze Emedosi (middle) and Rivers State Chairman, NIQS, Mr. Abayomi I. Anifowose, during NIQS workshop in Port Harcourt recently. Photo: Egberi A. Sampson