The Cordros Fixed Income Fund is an open-ended fund authorized and registered in Nigeria as a Unit Trust Scheme under Section 160 of the Investment and Securities Act. The Fund is governed by a Trust deed with STL Trustees Limited as Trustees to the Fund. 5,000,000 Units of each Fund are being offered for subscription at the launch of the Fund at N100.00 per unit. Due to their open-ended structure, the Units will be continuously offered to investors and the Fund Manager will be ready to redeem the Units at all times throughout the duration of the trust constituting the Funds. The fund would be invested in Federal Government bonds, Sub-national bonds, corporate bonds and high-quality money market instruments such as Treasury Bills, Commercial Papers, Bankers Acceptances and Certificate of Deposits with rated banks in Nigeria.

The investment objective of the Fund is income generation and competitive investment return with moderate risk.

The Cordros Fixed Income Fund will be managed by Cordros Asset Management Limited, a wholly owned subsidiary of Cordros Capital Limited, currently licensed by the Securities & Exchange Commission as a fund/portfolio management company. Since incorporation, The Fund Manager has demonstrated competence in managing clients’ investment needs with its range of products and services.

The issue price is ₦100 per unit.

The minimum initial investment for the offer is 25 units of the fund while additional/subsequent investments will be issued in multiples of 10 units and payable in full upon subscription.

The minimum holding period for an investment in the Fund is 90 calendar days from the allotment date. This period
commences from the Allotment Date for subscribers under the IPO of the Fund. However, an early redemption fee of 1.5% on the redemptive value of the units to be redeemed before the expiration of the minimum investment period.

Investors can subscribe to Units of the Fund after the initial offering period from the Fund Manager or any of its designated agents/representatives or through any medium that may be approved and provided by the Fund Manager from time to time. Payment for Units of the Fund shall be made to into the designated account opened by the Custodian

Every unit holder shall be entitled to a statement of unit holding, which shall be evidence of their title to the number of units specified on such documents. Joint unit holders shall be entitled to one statement in respect of the units held jointly by them which shall be delivered to the joint holder whose name first appears on the Register.

Unit Holders can visit the Fund Manager’s website (www.cordros.com/assetmanagement) to monitor end-of-day market prices of the Fund. Also, you can track your investments from our Cordros Portfolio Live account which would be created for every investor.

The fund would invest its total assets in Sovereign Bonds, Subnational Bonds, Corporate Bonds, Money Market and Cash

Determination of returns of the Fund is dependent upon key macro-economic indicators, interest rates of the financial markets and comparable investment returns in the market. The Fund Manager does not have influence on these factors. Accordingly, it is impossible to guarantee any particular rate of return on the investment. However, the Fund Manager will strive to maximize competitive returns to unit-holders.

Unit Holders can sell or redeem all or part of their investments when there is a price appreciation. In addition, the Fund Manager intends to Distribute income (less expense) as dividend to Unit Holders on a semi-annual basis. The Unit-Holders shall have the option to elect to be paid dividends or to reinvest their dividends in new Units at the Offer Price. Unit-Holders who elect to have their dividends reinvested in new Units shall be entitled to an issue of Units that shall be equal in value to the amount they otherwise would have received in cash as dividend.

Unit-holders shall be able to redeem all or part of the Units held by them at the Bid NAV Price on any Business Day, provided redemption documents are received in accordance with the instructions specified by the Fund Manager from time to time. Redemptions shall be paid within 3 – 5 working days following the receipt of the redemption notice by the Fund manager. Investors may redeem all or some of the Units held at any time after allotment. Units redeemed before the expiration of the minimum investment period (90 days) shall attract an early redemption fee of 1.5% of the accrued income on the redemption amount. After these first 3 months, there is no redemption charges.

Yes, periodic contributions can be made. The Fund is open-ended and there is no minimum period of participation or closing date.

The Fund, like all Unit Trust Scheme in Nigeria, will be regulated by the SEC. In addition, a Trustee,
STL Trustees Limited has been appointed to act on the behalf of unit-holders, legally ensuring that the Fund is managed in the best interests of unit-holders and in accordance with the provisions of the Trust Deed.

The trustee of the fund is STL Trustees Limited. The trustees have a legal duty to protect the interest of the unit-holders. Their activities would include ongoing supervision of compliance with the investment policies of the fund.

The fund is targeted at retail, High Net Worth Individuals, Africans in Diaspora, and Institutional Investors who desire to meet future medium to long term liabilities. The fund is structured to pay dividends semi-annually and is suitable for investors that have a medium to long term investment horizon.

An investment in the Fund can be made by completing a subscription form and making payment into any of the account details below. Completed subscription forms, with KYC documentation (means of identification, utility bills and passport photograph) and evidence of payment are required to be sent to Cordros Asset Management Limited or by mail to [email protected].

Bank: UBA Plc

Account Name: Cordros Fixed Income Fund/STL Trustees

Account Number: 1024393772