FCMB Asset Management Limited (FCMBAM), the Asset Management arm of FCMB Group Plc, announced that it has received approval from the Securities and Exchange Commission (SEC) for the execution of the supplemental Trust Deeds of the FCMBAM’s mutual funds. The approval includes the change of name of its Legacy mutual funds and reduction in the minimum subscription units of the Funds and follows the successful conclusion of unitholders’ meetings at which investors in each of the affected mutual funds voted in favour of the proposed changes.

The changes mark a deliberate step in FCMBAM’s ongoing brand consolidation, aligning the company’s public-facing products with the FCMBAM identity that has become synonymous with disciplined, transparent, and internationally benchmarked asset management services in Nigeria.

Fund Name Changes

With effect from the date of SEC approval, the following name changes are in full legal force:

Former Name

New Name

Legacy Money Market Fund

FCMBAM Money Market Fund

Legacy Debt Fund

FCMBAM Debt Fund

Legacy Equity Fund

FCMBAM Equity Fund

Legacy USD Bond Fund

FCMBAM USD Bond Fund

Minimum Unit Subscription Revisions

Concurrent with the rebranding, FCMB Asset Management Limited (FCMBAM) has revised the minimum unit subscription thresholds for three of its mutual funds, as approved by the SEC and reflected in the supplemental Trust Deeds.

These changes are intended to make investing more affordable and accessible to a wider range of investors. The minimum subscription for the local-currency bond-based FCMBAM Debt Fund has been reduced from 25,000 units to 1,000 units, while the minimum subscription for the local-currency equity-based FCMBAM Equity Fund has been lowered from 10,000 units to 1,000 units, helping to reduce the barrier to entry for more retail investors. The revised threshold for the US Dollar bond-based FCMBAM USD Bond Fund has decreased from 1,000 units to 100 units and aligns with FCMBAM’s broader commitment to expanding access to dollar-denominated investment opportunities for retail investors. The FCMBAM Money Market Fund remains unchanged at a minimum subscription of 1,000 units.

“This rebranding is more than a name change; it is a statement of intent. It, once again, signals to the investment community that FCMBAM prioritises the democratisation of access to professional investment management services, in line with our Purpose of fostering inclusive and sustainable growth in the communities we serve. We thank our unitholders for their confidence in us all through this process and remain committed to delivering even stronger outcomes for our clients, under our refreshed identity.

James Ilori, Chief Executive Officer, FCMB Asset Management Limited

All existing investment positions, account records, and fund documentation will be updated to reflect the new names. Unitholders are not required to take any action. This change will have no impact on client investments, which will remain fully secure and unaffected. Further enquiries may be directed to FCMB Asset Management Limited through the contact details fcmbamenquiries@fcmb.com.

About FCMB Asset Management Limited

FCMB Asset Management Limited (FCMBAM) was established in 1997 to provide portfolio management and investment advisory services to individual and institutional clients.

The Company is a wholly-owned subsidiary of CSL Stockbrokers Limited, a member of FCMB Group Plc, one of Nigeria’s leading financial services holding companies. FCMBAM is licensed by the Securities and Exchange Commission (SEC), Nigeria, and is rated A(IM) by Agusto & Co and A2(NG) Short-term Issuer & A-(NG) Long-term Issuer by GCR. FCMBAM currently manages five Collective Investment Schemes, including Nigeria’s first local-currency Private Debt Fund, FCMB-TLG Private Debt Fund, and offers Discretionary and Non-discretionary Portfolio Management services.

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