Cordros Milestone Fund .
The Cordros Milestone Fund (A Balanced Fund) is an actively managed unit trust scheme that seeks to strategically allocate investments in assets such as equities, bonds (including government, sovereign, and investment-grade corporate bonds), and high-quality money market securities.
The fundamental objective of the Fund is to provide convenience, diversification, and a competitive return.
The Fund is designed for retail, High Net worth individuals, and institutional investors (Firms, societies, religious bodies, employee schemes amongst several others) whose primary goal is to minimize the risk associated with saving via a diversified investment solution across different asset classes.
The Fund is an attractive investment option for investors that have certain future liabilities to meet. The Fund is a product of the successful merger of our Milestone Fund 2023 and Milestone Fund 2028.
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FAQs About CMF .
The CORDROS MILESTONE FUND 2023 and 2028 are target-date mutual funds that pursue a long-term investment strategy to manage the asset allocation (mix of asset classes) of the funds, to become more conservative as the target dates (2023 & 2028) approaches. The funds are open-ended funds constituted under a Trust Deed, and the units shall be continuously offered to a wide pool of target investors.
Target date funds, which are also called lifecycle funds, are designed to offer a convenient way to invest through a portfolio of assets as the target date approaches.
Although Cordros Milestone Funds can serve for retirement purposes, they are not solely Retirement Funds. As the name suggests, the Funds can serve as a target for any milestone project.
Target in this regard does not necessarily mean the date at which an investor should cash out the entire target date fund investment, but the dates (2023 and 2028) the funds will arrive at their most conservative asset allocation. In this respect, target-date funds are designed to be held beyond the presumed target date, to offer a continuing investment option for investors.
The glide path is the asset allocation path that the target date fund follows to become more conservative over time.
The fund will give investors capital appreciation benefits, diversification across asset classes, automatic rebalancing, automatic adjustment for changing risk profile, annual income, and professional portfolio management.
The Cordros Milestone Funds 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 N100 per unit.
The minimum initial investment for the offer is N2,500 (25 units), while additional investments shall be 10 units thereafter.
The minimum holding period is 180 days (6 months). However, units redeemed before the expiration of the minimum investment period (180 days) shall attract an Early Redemption fee of 1.50% of redemptive value.
Interested investors should carefully read the Prospectus. They are required to complete the subscription form specifying the number of units for the subscription. Also, interested investors can walk into any of Cordros’ designated bank branches across the country or the office of Cordros Asset Management Ltd. to complete subscription forms.
Every Unit-Holder is entitled to a Statement of Unit Holding in respect of the number of units held by him/her in the Fund.
Unit Holders can visit the Fund Manager’s website (www.assetmanagement.cordros.com) to monitor end-of-day market prices of the Fund. Also, you can track your investments using your r Cordros Portfolio Live account, which would be created for every investor.
The funds would invest its total assets in Equities, Fixed Income (Bonds), and Money Market as stated below:
Cordros Milestone Fund 2023
Proposed Asset Class AssetAsset Allocation RangeTarget Weighting (%)Year 1Year 2Year 3Year 4Year 5Equities5% – 65%55%50%45%20%5%Fixed Income (Bonds)10% – 60%35%30%25%20%10%Money Market10% – 85%10%20%30%60%85%Cash & Cash Equivalent0–5%Cordros Milestone Fund 2028Target Weighting (%)Proposed Asset Class AssetAsset Allocation RangeYear 1Year 2Year 3Year 4Year 5Equities10% – 70%60%60%55%55%50%Fixed Income (Bonds)10% – 40%30%30%25%25%20%Money Market10% – 40%10%10%20%20%30%Cash & Cash Equivalent0–5%
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