FCMB Asset Management Rebrands Four Mutual Funds

FCMB Asset Management Limited, a subsidiary of FCMB Group Plc, has successfully rebranded four of its mutual funds following approval from the Securities and Exchange Commission (SEC). The rebranding includes changing the names of the funds to FCMBAM Money Market Fund, FCMBAM Debt Fund, FCMBAM Equity Fund, and FCMBAM USD Bond Fund, previously known as Legaci Money Market Fund, Legaci Debt Fund, Legaci Equity Fund, and Legaci USD Bond Fund.

Additionally, the minimum subscription units for these funds have been significantly reduced to make them more accessible to retail investors. The minimum subscription for the local currency-based FCMBAM Debt Fund has been decreased from 25,000 units to 1,000 units, while the FCMBAM Equity Fund's threshold has been lowered from 10,000 units to 1,000 units.

The minimum for the FCMBAM USD Bond Fund has also been reduced from 1,000 units to 100 units. The FCMBAM Money Market Fund remains unchanged at a minimum subscription of 1,000 units.

These changes aim to align the company's public face with its ongoing brand consolidation and to expand investment opportunities for a wider range of investors.