Indigenous investment firm and fund manager, NIMED Capital Limited, has officially launched an Initial Public Offering( IPO) to raise funds for its Unit Trust.
The NIMED Lifetime Unit Trust is as an open-ended fund, established with the aim of investing in fixed-income securities that will provide investors with capital preservation, income and growth in the medium to long-term.
Addressing the virtual launch of the IPO on Wednesday via Zoom, officials of NIMED Capital Limited stated that the Fund was initially offering a minimum of 1,500,000 Units at an initial cost of GHS 0.20 per Unit. The minimum investment purchase of Units under the IPO is set at 1,500 Units (GHS300) and thereafter in multiples of 250 Units (GHS50).
The initial offering period for Units of the NIMED Lifetime Unit Trust commences from 8:00 am on March 3, and ends at 5:00 pm on March 23, 2021, with Fidelity Bank as the Trustee.
“As we expect to roll out our first unit trust over the next few weeks, we are targeting an Assets Under Management of GHS 10million to GHS 20million in the first 2 years as we advise clients to take hold of their future by investing in the fund. Our focus will be on the fixed income market to generate good returns for the fund,” said Madam Abena Brigid, Chief Executive Officer (CEO) of NIMED Capital Limited.
“Today, I am happy that we are launching NIMED Lifetime Unit Trust, the investment support for a lifetime. If you are looking to pay for the cost of your child’s education, build your primary home, purchase a vehicle, cater for the upkeep for your family, accumulate emergency funds, grow the surplus funds of your institution, then see NIMED as a strategic partner in achieving these goals” she added.
The Board Secretary of NIMED Capital Limited, Mr Justice Ayisi, in a speech before the launch, said the fund would invest primarily in fixed income securities which “seek total return, consisting of income and capital appreciation”. He was also confident that the IPO would be over-subscribed before the end of the period.
The Fund Administrator – NIMED Capital Limited, Madam Anita Bekoe, also added that the fund would allow investors to make regular contributions after the IPO.
She said, “the fund will be managed with high ethical standards and be invested in asset classes including, Government of Ghana Bonds, Corporate bonds and fixed deposits.”
She further disclosed that the fund was open to investment from all individuals, institutions, corporate bodies, pension funds, endowment funds, schools and churches.
NIMED Capital Limited is licensed by the Securities and Exchange Commission (SEC) and the National Pensions Regulatory Authority (NPRA).