The FBN Heritage Fund is an open ended mutual fund managed by FBN Capital Limited, a wholly owned subsidiary of First Bank Nigeria Plc.
The FBN Heritage Fund is a collective scheme for those who wish to invest in Nigerian blue chip companies.
With a minimum investment of N50,000.00, you can own the following investments
Blue Chip Equities/Private Equities
Money Market Instruments
Federal Government Bonds
Real Estate investment instruments
The Fund provides an avenue for spreading risk suitable for investors with medium to long term horizon
The Fund operates on a two way pricing quotes (offer and bid prices). Subscriptions are processed at the Fund’s offer price (buying price) while redemptions are valued at the bid price (selling price).
The FBN Heritage Fund is approved by the Securities and Exchange Commission (SEC) and listed on the daily official list of the Nigerian Stock Exchange (NSE) under the Memorandum listing segment
Benefits of the FBN Heritage Fund
Investors have access to variety of securities which they may not afford individually
The asset structure is well diversified thus enabling investors to widely spread their risk.
The investors will have access to professional advise that are usually available to institutional investors.
The Fund is very liquid. Redemptions are processed within 5 working days of submitting a redemption request.
The Fund is open ended mutual fund. It can be bought or sold on any business day.
The Fund will declare dividend and make distribution from net investment income annually based on performance.
Forward a Bank cheque/draft payable to FBN Heritage Fund along with the following
Standing order can be placed for continuous subscription with your bank or by issuing post dated cheques in favour of FBN Heritage Fund
Investors will be allocated units at the offer price of the day value is received for payment of subscription and will be notified of the units allocated via sms/email.
Investors will also be issued with Certificate/Purchase statement as an evidence of investment in the Fund. The Certificate/Purchase statement will be dispatched to stated addresses or investors can opt to hand – collect
Subscriptions can be made for the benefit of your children, societies and clubs etc
Redemption Procedure
Attestation of ownership of Unit Certificates by the First Bank Branch: (verification using Drivers License/National ID card/International Passport/First Bank Account No ID Card)
Complete a redemption form and send to the Fund Manager along with the Fund certificate (original) and photocopy of investor’s identification sighted by First Bank Branch e.g. Drivers Licence/National ID Card/international passport
The Fund Manager send the redemption request to the Registrars for verification
The Registrars verifies the investor’s signature
The redemption process will usually be completed within 5 working days
The holding is valued at the bid price on the day of receipt of redemption form
Fund Manager processes payment through the following modes:
Issuance of cheques in favour of the investor
Transfer to the investor ’s First Bank account
Transfer to the investor through a First Bank Branch upon confirmation of the identification of the investor
Early redemption within 6 months of investment attracts a 1% handling charges
Non receipt of certificate
Attestation of investment in the Fund by the First Bank Branch: using evidence of purchase e.g. photocopy of subscription form and deposit slip
Complete an indemnity form available at any of our office address, any First Bank branch (or website: www.fbnheritagefund.com). The indemnity form should be jointly signed by investor and investor’s Bank /insurance company/stock broker, affixing postage stamp where applicable
Send completed indemnity form to the Fund Manager along with photocopy of investor’s identification sighted by First Bank Branch e.g. Drivers Licence/National ID Card/international passport
The Fund Manager send the documents to the Registrars for verification and processing
Registrars check records and forwards the certificate to Fund Manager if found in the list of unclaimed certificates from the postal agency (List of unclaimed certificates available at any of our offices)
However if not found under the list of unclaimed certificates, a duplicate certificate will be printed for the investor
The duplicate certificate is signed and sealed by the Fund Manager and Trustees
Unclaimed/Duplicate certificate is dispatched to the investor ’s address or forwarded through the nearest First Bank Branch. Investors can also opt to hand collect certificate
How to value and monitor my investments
The value of your investment at any point in time is = No. of units held multiply by the current bid price.
The daily prices at which units of the Fund may be bought (Offer price) and sold (Bid price) are available in leading national newspapers (Thisday, Punch etc) on weekdays as well as on our websites: www.fbnheritagefund.com, www.fbncapital.com, www.firstbanknigeria.com
Where to locate us
FBN Capital Ltd Address: 16, Keffi Street,
Off Awolowo Road,
South West, Ikoyi
Lagos.
