By Chioma Obinagwam
FMDQ Securities Exchange (‘FMDQ Exchange’ or ‘the Exchange’), through its Board Listings, Markets and Technology Committee, has approved the listing of 500,000,000 units of ₦1.00 each of SFS Fixed Income Fund (the SFS Fund) on its platform.
The Exchange disclosed in a statement issued to Confiance News on Tuesday.
According to the statement, the SFS Fund is structured as an open-ended fixed income investment scheme, duly authorised and registered in Nigeria as a Unit Trust Scheme under Section 160 of the Investment and Securities Act 2007.
FMDQ further explained that the Fund, which targets investors, including individuals and institutions with low risk appetite and who are averse to high fluctuation in investment returns, amongst others, will be invested in interest-bearing investments through any Central Bank of Nigeria (CBN)-approved Bank.
“In addition, the fund may also be invested in high quality short-term securities such as Commercial Papers and Bankers’ Acceptances.
“From global visibility to governance, the SFS Fund joins a host of other securities listed on the Exchange to benefit from the value-add and tailored service which an FMDQ Exchange listing avails,” FMDQ noted in the statement.
It also disclosed that a formal listing ceremony to commemorate the admittance of this Fund on FMDQ Exchange shall be held in due course.
“As a systemically important financial market infrastructure positioned to drive innovation, collaborative relationships and technology, FMDQ strives to foster development in the Nigerian financial market through its exchange, clearing and depository infrastructures, thereby providing a seamless process and value-chain for the markets to execute, clear and settle their transactions,” it stated.
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