Coremars Asset Management Limited, a Nigerian asset management firm, has introduced a ₦1 billion Money Market Fund, following regulatory approval from the Securities and Exchange Commission (SEC). This development signifies the company's entry into Nigeria's collective investment scheme market with its first major mutual fund. The fund aims to provide individuals, businesses, corporates, and institutional investors with access to a professionally managed portfolio of money market instruments.
The launch of the Coremars Money Market Fund represents a significant milestone in the firm's growth strategy, shifting its focus from building infrastructure to developing investment products and expanding client and institutional relationships. According to Olawale Adebayo, Managing Director of Coremars Asset Management Limited, the fund's introduction is a defining moment for the business, reflecting the company's investment in building the necessary foundation to bring this product to market.
The ₦1 billion initial offer serves as a starting point for Coremars as it seeks to establish the fund in Nigeria's competitive asset management industry. The company's growth strategy extends beyond expanding its product range to include investment discipline, institutional relationships, and client service. The fund is expected to strengthen Coremars' engagement with businesses and institutions seeking to manage surplus liquidity.
The Coremars Money Market Fund is designed to give investors access to a professionally managed portfolio of money market instruments, focusing on capital preservation, liquidity, and income. Adetutu Awojobi, Head of Institutional Sales at Coremars Asset Management Limited, emphasized that the institutional market represents a crucial part of the company's opportunity, with corporates and institutions increasingly seeking professionally managed solutions that are transparent and aligned with their investment requirements.
Awojobi noted that the ₦1 billion offer provides a starting point but is not the limit of the company's longer-term ambition. Coremars plans to build a broader investment management platform serving different investment objectives, strengthening its investment capabilities, expanding its range of solutions, and deepening relationships with individual, corporate, and institutional clients.
In the immediate term, Coremars' focus is on establishing the fund, attracting and retaining investors, and maintaining the investment and governance standards required to support sustainable growth. Adebayo emphasized that the company's long-term ambition is to build an asset management institution that investors can trust with increasingly significant pools of capital, requiring discipline, expertise, and an unwavering focus on clients' interests.
The launch of the Coremars Money Market Fund represents both a new investment option for investors seeking professionally managed exposure to money market instruments and a new phase in Coremars' development as an asset management business. The performance of the fund and the quality of its investment and governance processes will be central to the company's ability to build scale and investor confidence.
Key points
- Coremars Asset Management Limited has launched a ₦1 billion Money Market Fund, marking its entry into Nigeria's collective investment scheme market.
- The fund aims to provide individuals, businesses, corporates, and institutional investors with access to a professionally managed portfolio of money market instruments.
- The launch represents a significant milestone in Coremars' growth strategy, shifting its focus from building infrastructure to developing investment products and expanding client and institutional relationships.
