Mutual Funds defy Covid-19 effect, as returns rise 50% to N1.5trn
On
By Peter Egwuatu
Despite the adverse impact of the Coronavirus, COVID-19 pandemic, on the Nigerian economy, fund managers have raised their investment in Collective Investment Scheme, CIS, otherwise known as mutual funds.
The Scheme itself has recorded a return of 50 per cent Year-to-Date, YtD, with the net Asset value, NAV, rising to N1.5 trillion in 2020 from N1.0 trillion in 2019.
However, financial analysts have asserted that the huge gains recorded in equities in 2020 may not be replicated this year as they project moderate returns across all against the backdof changing monetary policy environments.
Mutual Funds defy Covid-19 effect, as returns rise 50% to N1 5trn -
vanguardngr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vanguardngr.com Daily Mail and Mail on Sunday newspapers.
Fund Managers Association Of Nigeria, Nigerian Stock Exchange Highlight Growing Interest In Mutual Funds
mondovisione.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mondovisione.com Daily Mail and Mail on Sunday newspapers.
Diwa C. Guinigundo
In the last quarter of 2019, this column discussed in three parts the whys and wherefores of financial literacy. We were inspired by the earlier discussions during the first Asia Pacific Financial Education Institute organized by our friend Dave Fernandez, director of Singapore Management University’s Sim Kee Boon Institute for Financial Economics, where I serve as member of its Advisory Board.
The key takeaway from those discussions is that financial literacy is relevant in making economic growth more sustainable by addressing income inequality and poverty. Borrowing the analogy used by Annamaria Lusardi of Italy’s Financial Education Committee and George Washington University, financial literacy is the water in the ecosystem of the real economy and the financial system.