Investor Presentaiton

COLLECTIVE INVESTMENT SCHEMES An Overview There were forty six (46) operational & registered Unit Trust Schemes, three (3) Real Estate Investment Trust Schemes (REITS), and one (1) Exchange Traded Fund (ETF). The Unit Trust Schemes and REITS had a combined total Net Asset Value (NAV) of N 152.2 billion in 2013 compared to 44 operational Unit Trust Schemes and two REITs with a combined total NAV of N104.6 billion as at December 2012. This represents an increase of 45.5% which is attributed to the general growth of the market, authorization of new Schemes as well as the growth of existing schemes. The Market Capitalization of the Exchange Traded Fund was № 277.8 million as at December 2013, a decrease from N 1.013 billion as at December 2012, this represents a decline of about 73%. The decrease was attributed to the fall in the price of Gold (the underlying asset of the ETF) as well as the substantial redemption of units of the ETF by the issuer among other factors. Private Equity, Infrastructure and Venture Capital Funds also had a combined NAV of N80, 534,009,109.93 for the period. Initiatives regarding Collective Investment Schemes for the year include: collaboration with the Fund Managers Association of Nigeria (FMAN) with respect to the adoption and implementation of the proposed CIS Roadmap/Strategy Document, modalities to provide guidance on the tax liability of OCIS (as a forerunner to engaging the Federal Inland Revenue Services (FIRS)), discussion with FMAN and other stakeholders on the proposed implementation of the Global Investment Performance Standards (GIPS). The transfer of the Nigeria International Growth Fund from Fidelity Bank Plc. to Investment One Financial Services Ltd was concluded in the year. Cashcraft Asset Management relinquished management of the Anchor and Bedrock Funds further to a directive of the Commission, while a 'no objection' was issued for the merger of the Nigerian Global Investment Fund and the Chapel Hill Denham Millennium Fund. The new developments recorded Investment Schemes include: under Collective Annual Report and Accounts 2013 - Securities & Exchange Commission 47

View entire presentation