FCMB Asset Management Secures SEC Approval for Fund Name Changes, Lower Minimum Investment Units
By Aboki Forex —
FCMB Asset Management Limited (FCMBAM), the asset management arm of FCMB Group Plc, has received approval from the Securities and Exchange Commission (SEC) to rename its legacy mutual funds and reduce the minimum subscription units for some of its funds.
The changes follow successful unitholders’ meetings where investors voted in favour of the adjustments. According to the company, the move is part of its brand consolidation strategy to align its public-facing investment products with the FCMB Asset Management identity.
Under the revised structure, the minimum subscription for the FCMBAM Debt Fund dropped from 25,000 units to 1,000 units. The FCMBAM Equity Fund was lowered from 10,000 units to 1,000 units. The FCMBAM USD Bond Fund saw its minimum subscription fall from 1,000 units to 100 units. The FCMBAM Money Market Fund remains unchanged at 1,000 units.
James Ilori, Chief Executive Officer of FCMB Asset Management Limited, described the rebranding as a statement of intent. He said: “This rebranding is more than a name change; it is a statement of intent. It, once again, 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.”
He added that the company appreciates the confidence of unitholders throughout the process and remains committed to delivering stronger outcomes under its refreshed identity.
FCMBAM assured investors that all account records, investment positions and fund documentation will automatically reflect the new names. No action is required from unitholders. The company also stated that the changes will not affect the security of client investments.
FCMB Asset Management Limited was established in 1997. It offers portfolio management and investment advisory services to individual and institutional investors. The firm is a wholly owned subsidiary of CSL Stockbrokers Limited, part of FCMB Group Plc. FCMBAM manages several collective investment vehicles, including Nigeria’s first local-currency private debt fund.