By Chidiebere Ugwu
Norrenberger, an industry-leading, integrated investment management group, has announced that its recently launched Norrenberger Turbo Fund, which commenced on the 1st of November was oversubscribed by 156% (at 30 November).
The management, in a statement, described the development as in a show of investors’ confidence in the scheme in particular and the Norrenberger brand.
The Norrenberger Turbo Fund (“NTF” or “The Fund”) is an open-ended collective investment scheme registered by the Securities and Exchange Commission (SEC) specifically created to meet the investment and financial growth needs of Nigerians.
The Fund objective is income generation while maintaining liquidity, diversification, and competitive return by investing in a basket of short-, medium- and long-term fixed income instruments. NTF comes at a good market cycle when interest rates on fixed income instruments are near historic highs and presents a unique opportunity for investors to lock in these high yields for longer.
Speaking on the impressive subscription to the NTF, Tony Edeh, Group Managing Director/CEO, Norrenberger stated “Amidst the speculations and challenges in our operating environment, investors have come onboard the NTF, which demonstrates belief in Norrenberger’s products. We are deeply grateful for the enthusiastic support from the market and our stakeholders. Exceeding our target for The Fund subscription is a testament to the trust and confidence investors have in Norrenberger. We remain committed to continuing to deliver exceptional results and return on investments for our valued investors.”
“The overwhelming support from our investors and stakeholders demonstrates the strength of our products offering and also a commentary on the talented team that midwifed the process,” said Pabina Yinkere, Business Head, Asset Management, Norrenberger. “Our systematic approach to sourcing compelling investment opportunities, paired with the methodical application of our value creation strategy, has delivered attractive returns for our investors. With the Norrenberger Turbo Fund, we look forward to continuing to partner with both institutional and individual investors to achieve their financial dreams.”
According to Norrenberger, the Turbo Fund is still open for subscription to new investors.
“Norrenberger is an integrated investment management group that provides bespoke financial solutions that add value to our individual and institutional clients.
“With a team of experienced professionals, Norrenberger offers a comprehensive range of services, including asset management, private equity, development finance, investment banking, securities trading, pensions, insurance, fintech and digital banking.
“Our component companies are licensed, authorised, and regulated by either the Securities & Exchange Commission (SEC), Central Bank of Nigeria (CBN), Nigerian Exchange Limited (NGX), National Pension Commission (PenCom) or National Insurance Commission (NAICOM)”.
