Vetiva Money Market Fund (“VMMF” or “the Fund”) remains one of the top-rated funds in Nigeria as shown by the recently released Rating Report by Agusto & Co, a foremost Pan-African rating agency.
Agusto & Co indicated that the rating upgrade from A(f) to A+(f) was due to the Fund’s consistent conservative approach to credit risk, with sizeable investments in FGN securities despite the relatively challenging yield environment. In addition, the rating reflects the Fund’s low exposure to liquidity and interest rate risks.
Vetiva Money Market Fund (‘VMMF’ or ‘the Fund’) is an open-end collective investment scheme managed by Vetiva Fund Managers Limited (‘VFML’) – a subsidiary of Vetiva Capital Management Limited.
It is a convenient vehicle that pools monies from investors to invest in a portfolio of Money Market instruments like Government Treasury Bills, Commercial Papers, Fixed Deposit placement and other short-term instruments. The selection of securities for the Fund is driven by a detailed investment policy focused on achieving consistent income streams through investing and actively managing a diversified portfolio of money market securities. The upgraded rating of the VMMF indicates that the fund is liquid enough to easily pay out and receive funds to and from subscribers that would like to withdraw and make additions to the fund at any time.
Speaking on the upgraded rating, the Managing Director, Vetiva Fund Managers Limited, Mrs. Oyelade Eigbe said “this rating is a testament to the overall value the VMMF brings to investors. It reflects the painstaking efforts the team has put into the Fund to ensure investors reap commensurate returns on their investments”.
She noted that this rating will further boost investor confidence in VMMF, and by extension Vetiva. “We are quite optimistic that this rating will not only solidify the confidence our investors have in our products but also spur them into making more investment choices available in our bouquet. At Vetiva, we are committed to delivering only exceptional products that can stand the test of time, whilst also putting into consideration the diverse needs of our investors by proffering solutions that appeal to their investment needs”.
“This upgrade reflects our determination to meet the Fund’s objective of capital preservation, liquidity, and current income through investing in a well-diversified portfolio of quality money market instruments. It also demonstrates Vetiva’s aim of consistently delivering superior wealth and investment solutions tailored to meet investors’ objectives of safety and good return, in an efficient and seamless manner under diverse market conditions”, Eigbe further stated.
The Fund will continue to improve its financial profile and strengthen its management capabilities to improve its overall worthiness in the mutual funds market.
About Vetiva Fund Management Limited
Vetiva Fund Managers Limited is a subsidiary of Vetiva Capital Management Limited and is registered with the Securities & Exchange Commission to carry out business as Fund/Portfolio Manager. VFML also manages 5 Exchange Traded Funds (the Vetiva Griffin 30 ETF, Vetiva Banking ETF, Vetiva Consumer Goods ETF, Vetiva Industrial Goods ETF and the Vetiva S&P Sovereign Bond ETF) and provides multi-asset class, holistic wealth management services to individuals and institutions.
ABOUT US Vetiva Capital Management Limited
Vetiva Capital Management Limited (VCML or Vetiva) is a Pan-African Financial Services Company incorporated in Nigeria; duly regulated and registered by the Securities & Exchange Commission. Our wholly owned subsidiaries Vetiva Securities Limited; Vetiva Fund Managers Limited, and Vetiva Trustees Limited and Griffin Finance Limited act as Broker/Dealers, Fund/Portfolio Managers, Corporate Trustees and Finance House respectively.
VCML is a Group holding company and currently acts as the operating vehicle for the investment banking business. It is the understanding of the Brand & Communications desk that a subsidiary is being incorporated to warehouse the investment banking business.