FCMB Asset Management Limited has secured approval from the Securities and Exchange Commission (SEC) for supplemental Trust Deeds covering its mutual funds, including the rebranding of legacy funds and reductions in minimum subscription requirements.
The company disclosed the development in a statement issued on Thursday.
According to the asset management subsidiary of FCMB Group Plc, the approval followed the successful completion of unitholders’ meetings where investors voted in favour of the proposed restructuring plans.
As part of the changes, the company announced the rebranding of its legacy mutual funds.
Legacy Money Market Fund has been renamed FCMBAM Money Market Fund, while Legacy Debt Fund, Legacy Equity Fund, and Legacy USD Bond Fund have been renamed FCMBAM Debt Fund, FCMBAM Equity Fund, and FCMBAM USD Bond Fund respectively.
The company said the name changes became effective from the date of SEC approval and are part of its broader brand consolidation strategy designed to align all investment products under the FCMBAM identity.
FCMB Asset Management also announced significant reductions in minimum subscription thresholds for some of its mutual funds following updates to the supplemental Trust Deeds.
Under the revised structure, the minimum subscription requirement for the FCMBAM Debt Fund was reduced from 25,000 units to 1,000 units.
Similarly, the FCMBAM Equity Fund minimum subscription threshold was lowered from 10,000 units to 1,000 units.
The company stated that the reductions are intended to lower investment entry barriers and encourage wider participation from retail investors.
In addition, the minimum subscription threshold for the FCMBAM USD Bond Fund was reduced from 1,000 units to 100 units in a move aimed at expanding access to dollar-denominated investment opportunities.
The minimum subscription requirement for the FCMBAM Money Market Fund remains unchanged at 1,000 units.
Commenting on the development, the Chief Executive Officer of FCMB Asset Management Limited, James Ilori, said the restructuring reflects the company’s focus on expanding financial inclusion and access to professional investment services.
“This rebranding is more than a name change; it is a statement of intent,” Ilori said.
“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.”
He also thanked investors for supporting the restructuring process and reaffirmed the company’s commitment to delivering stronger investment outcomes under its refreshed identity.
