FAQs

The Money Market Fund is a secure, open ended mutual fund that invests in short term securities like Treasury Bills, Commercial Papers and Fixed Deposits. It aims to optimize returns on free cash flow offering returns that outperform regular savings accounts. It is regulated by securities and exchange commission.

The Fund offers investors a low entry opportunity to earn competitive returns from a mix of premium securities. Managed by professionals, the Fund will provide investors with a portfolio offering liquidity, diversification, and steady income.

FAAM MMF is rated ‘’A’’ by Agusto & Co based on the strength of the investment strategy and depth of experience of the Fund manager. FAAM boasts a highly qualified investment committee, strong corporate governance and an operational infrastructure well suited for a fund of this nature.

The FAAM Money Market Fund is an open-ended mutual fund that provides safety, liquidity, diversification and competitive returns compared to Savings accounts, Treasury bills, or Fixed deposit.

After an initial 90-day lock in period, the Fund can serve as a hybrid savings account or fixed deposit account without penalties for exceeding a set number of withdrawals and/or early termination. In addition, investors will not lose accrued interest as is the case with both Savings and Fixed deposit accounts.

The fund limits investors exposure to market risk, compared to treasury bills in the event of premature exit from investment.

First Ally Asset Management Limited acts as the Fund Manager, Radix Trustees Limited are the trustees to the fund, United Bank For Africa(Global Investor Services) serve as the Custodian, Ernst & Young are Auditors to the fund.

The return on the Fund is a function of prevailing interest rates in the Nigerian financial markets. The Fund Manager has no influence over changes in interest rate. Consequently, we cannot guarantee any particular rate of return on the investment. However, the Fund Manager will strive to generate competitive returns to unit-holders. The return on investment is benchmarked against the 91-day Treasury Bills

The Fund Manager plans to make distributions from the net income of the Fund on a quarterly basis to unit-holders. Unit-holders can elect to receive their dividend in cash or reinvest their dividends in new units at the Offer Price.

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

  At any point in time, the value of your investment is the product of the number of units you hold and the Bid Price per unit, which will be available on both the FMDQ and First Ally website.

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. A statement of Investment is sent via mail statutorily on monthly basis and upon request from client at any point in time.

Yes, you can.

Unit holders can sell their units in the fund after the initial 90-day holding period. Unit holders will be required to redeem units online or complete a redemption form and return the proof of investment to the fund manager. Once these documents have been verified, the redemption request will be processed within five (5) business days. Minimum permissible holding after partial redemption is N1,000 or such balance as advised by the Manager from time to time.

The Fund, like all mutual funds in Nigeria, is regulated by the SEC. In addition, a Trustee, Radix 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 Fund is ideal for investors with a low risk appetite and a desire for an income generating portfolio. This includes both Retail and Institutional investors.

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