Lead Fixed Income Fund reports N44m PAT on expand subscriber base

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Lead Fixed Income Fund, an open-ended fund managed by Lead Asset Management Limited, reported a 14.7 percent increase in its profit after tax (PAT) for the year ended December 31 2018, fuelled by the increase in new units of subscribers.

Data compiled from the company’s financials revealed that it grew PAT by N5.64 million, from N38.36 million reported in 2017 to N44 million in 2018.

In the review period, the Fund recorded 3.83 million units of new subscribers to the tune of N459.55 million in 2018, 32.37 percent increase when compared to the N347.16 million reported a year earlier.

“All expectation were met, the unit holders are actually happy- since the Fixed Income Fund was created, we have paid dividend twice in a year.I think we are doing very well, our current yields is about 13.6 percent, which is clearly above inflation rate and the indices are looking quite attractive even for Nigeria as a country,” Taiwo Olashore, Managing Director of Lead Asset Management Limited told BusinessDay at the company’s second Annual General Meeting (AGM).

Registered and authorized in Nigeria as a Unit Trust Scheme under Section 160 of the Investment & Securities Act, Lead Fixed Income Fund recorded a growth in revenue by 7.27 percent in the review year, from N47.99 million it generated in 2017 to N51.477 in 2018.

Thus, the Manager is proposing 25 percent dividend for full-year ended 31 December 2018 in line with the provisions of the Trust Deed. That is N2.08 dividend payment per unit to members whose name appears in the Register of the members as at close of book for the review year.

Commenting on her investment with the fund manager Oyekanmi Marian said “I am a subscriber with Lead Asset Management, I signed up with them … Read More...