Assets management firm, Utica Capital Limited, on Thursday, unveiled its new collective investment scheme which combines both investment and insurance features.

At the launch of the product called Utica Custodian Assured Fixed Income Fund, which held at its head office in Lagos, the firm explained that the product is aimed at deepening the capital market as well as boosting insurance penetration which is less than one per cent in Nigeria.

The Chairman of Utica, Dr Adesegun Akin-Olugbade, said, “UCAF is customised for the Nigerian market. It deepens the capital market on one hand, it also adds to insurance penetration on the other hand. We are a company that is devoted to the capital market.

“In our industry where the dynamics are ever evolving and the challenges are relentless, it is our duty to provide the investing public with the opportunities needed to achieve their financial goals. We understand that every investor has unique aspirations and investment needs, and that is why we have meticulously crafted this new product, the Utica Custodian Assured Fixed Income Fund.”

Speaking on the product, Managing Director of Utica Capital, Ola Belgore, said, “Utica Custodian Assured Fixed Income Fund is the perfect blend of returns and protection. UCAF as an investment and insurance collective investment scheme embodies the very essence of our mission which is to become the most sought after brand in asset and fund management in Nigeria and Africa within the first 10 years of our existence. In the ever evolving world of investment, the need for innovative, reliable and adaptable investment solutions has never been more crucial. UCAF is about meeting the needs of would-be investors and Utica’s unwavering commitment to the financial wellbeing of the investing public.

“We have partnered with other capital market operators on the fund. As you know, this is a collective investment scheme which is popularly called mutual funds; there are other capital market parties,”

In her presentation, Utica Portfolio Manager, Aderonke Osho, revealed that UCAF will be heavy on FGN BONDS at about 70 to 80 per cent with provision made for liquidity too.

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