May 11, (THEWILL) — FCMB Asset Management Limited (FCMBAM), the asset management subsidiary of FCMB Group Plc, has secured approval from the Securities and Exchange Commission (SEC) to rebrand four of its mutual funds and revise minimum subscription thresholds for selected investment products.
The approval follows the successful conclusion of unitholders’ meetings, where investors voted in favour of the proposed changes captured in the supplemental Trust Deeds of the funds.
Under the approved restructuring, FCMBAM said the rebranding exercise is part of its broader strategy to consolidate its identity and align all investment products under the FCMBAM brand, which it described as a symbol of disciplined, transparent and globally benchmarked asset management services in Nigeria.
Effective immediately, the Legacy Money Market Fund will now operate as the FCMBAM Money Market Fund, while the Legacy Debt Fund, Legacy Equity Fund and Legacy USD Bond Fund have been renamed FCMBAM Debt Fund, FCMBAM Equity Fund and FCMBAM USD Bond Fund respectively.
In addition to the name changes, the company also announced a significant reduction in the minimum unit subscription requirements for three of the funds to improve retail investor participation and affordability.
The minimum subscription for the FCMBAM Debt Fund has been reduced from 25,000 units to 1,000 units, while the FCMBAM Equity Fund has also been lowered from 10,000 units to 1,000 units.
The FCMBAM USD Bond Fund now requires a minimum subscription of 100 units, down from 1,000 units. The FCMBAM Money Market Fund remains unchanged at 1,000 units.
Speaking on the development, the Chief Executive Officer of FCMB Asset Management Limited, James Ilori, described the rebranding as “more than a name change,” noting that it reinforces the company’s commitment to expanding access to professional investment management services and driving inclusive growth across Nigeria.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
