CORONATION MONEY MARKET UND · PDF fileCoronation Money Market Fund ... This Abridged...

Page | 1 Coronation Money Market Fund | Initial Public Offering

This document is important and you are advised to carefully read and understand its contents Before subscribing please consult your

Stockbroker Solicitor Banker or an Independent Investment Adviser registered by the Securities and Exchange Commission This

Prospectus has been seen and approved by the Directors of Coronation Asset Management Limited and they jointly and individually

accept full responsibility for the accuracy of all information given and confirm that after having made all inquiries which are reasonable

in the circumstances and to the best of their knowledge and belief there are no other facts the omission of which would make any

statement herein misleading

FOR INFORMATION CONCERNING CERTAIN RISK FACTORS WHICH SHOULD BE CONSIDERED BY PROSPECTIVE

INVESTORS PLEASE SEE RISK FACTORS ON PAGES 13 amp 14

INITIAL PUBLIC OFFERING

OF

1500000000 UNITS OF N100 EACH

AT PAR

IN THE

CORONATION MONEY MARKET FUND (AUTHORIZED AND REGISTERED IN NIGERIA AS A UNIT TRUST SCHEME)

PAYABLE IN FULL ON APPLICATION

FUND MANAGER

ISSUING HOUSE

APPLICATION LIST OPENS Monday 10 July 2017

APPLICATION LIST CLOSES Friday 28 July 2017

This Abridged Prospectus and the Units which it offers have been registered by the Securities and Exchange Commission The

Investments and Securities Act 2007 provides for civil and criminal liabilities for the issue of a Prospectus which contains false or

misleading information Registration of this Abridged Prospectus and the Units which it offers does not relieve the parties of any liability

arising under the Act for false or misleading statements contained or for any omission of a material fact in any Prospectus

This Abridged Prospectus is dated Thursday 15 June 2017

RC 1290392

RC 207138


ABRIDGED TIMETABLE

The dates given above are indicative only The timetable has been prepared on the assumption that certain

key activities including but not limited to the receipt of regulatory approvals from the SEC for the Offer will

be achieved as stated if not then dates surrounding key events in the timetable may be subject to adjustments

without prior notice

Date Activity Responsibility

10-07-2017 Application List opens Issuing House

28-07-2017 Application List closes Issuing House

02-08-2017 Receiving Agents make returns Registrar

09-08-2017 Forward Basis of Allotment Proposal to SEC Issuing House

18-08-2017 Obtain SECrsquos clearance of the Basis of Allotment Proposal Issuing House

25-08-2017 Disburse Net Proceeds to Custodian Receiving Bank

28-08-2017 Return ExcessRejected Application Monies Registrar

29-08-2017 Publish Allotment Announcement in two national daily newspapers

Fund ManagerIssuing House

29-08-2017 Distribution of Statements of Unit-holdings Registrar

05-09-2017 List on the Nigerian Stock Exchange Stockbroker

08-09-2017 Forward Offer Summary Report to the SEC Fund ManagerIssuing House


SUMMARY OF THE OFFER

The following is a summary of the terms and conditions of an investment in the Coronation Money Market Fund This

summary draws attention to information contained elsewhere in the Abridged Prospectus it does not contain all the

information a prospective investor in the Fund should consider in making an investment decision This summary should

be read together with the entire Abridged Prospectus Investors are advised to seek information on the applicable fees

and charges before investing in the Fund

FUND MANAGER Coronation Asset Management Limited

ISSUING HOUSE Coronation Merchant Bank Limited

TRUSTEE TO THE FUND United Capital Trustees Limited

CUSTODIAN Citibank Nigeria Limited

THE OFFER 1500000000 Units of N100 each in the Fund

METHOD OF OFFER Offer for Subscription

NATURE OF THE FUND The Fund seeks to deliver capital preservation liquidity and diversification while providing a competitive return to fund investors The Fund will invest in attractive and high yield short term money market securities unsubordinated short term debt instruments such as Bankersrsquo Acceptances Certificates of Deposit Commercial Papers Collateralized Repurchase Agreements Deposits (FixedTenored) with eligible financial institutions and other instrument introduced and approved by the Central Bank of Nigeria (CBN) from time to time as permissible under SEC Rule 470 These eligible securities must have received an investment grade rating from a SEC-registered rating agency

UNIQUE FEATURE The Fund offers an added benefit of a group personal accident policy to retail

investors with a minimum balance of N100000 in the Fund The Fund would provide

a ldquopersonal accident onlyrdquo insurance policy whereby Unit-Holdersinvestors will be

entitled to a scale of compensation for death and permanent disability following an

accident to the tune of a 100 of sum invested as stated in schedule of benefits on

pages 11 to 13 of this Abridged Prospectus

TARGET INVESTORSINVESTOR

The Coronation Money Market Fund is tailored for Retail High net-worth individuals and investors that seek capital preservation and regular stream of income through low risk investments These investors are looking to optimize return on investment in short dated money market assets

SUITABILITY In view of the fundrsquos competitive return it is particularly suitable for investors who seek

A short term investment horizon Safety and preservation of capital Liquidity and regular stream of income as the fund is structured to pay

dividend on a quarterly basis FUND SIZE N150000000000

UNIT PRICE N100 per Unit

UNITS OF SALE 10000 Units and multiples of 5000 units thereafter

PAYMENT TERMS In full on application

INDICATIVE FUND RATING

TO BE CONFIRMED SUBJECT TO THE

SUCCESSFUL LAUNCH OF THE FUND

A- (NG)(f)

MANDATORY SUBSCRIPTION In compliance with the rules and regulations of the SEC which states that promoters

of Unit Trust Schemes in Nigeria must subscribe to a minimum of 5 of the initial

issue of such schemes the Fund Manager shall subscribe to 5 of the Offer

OPENING DATE 10 July 2017

CLOSING DATE 28 July 2017

USE OF PROCEEDS

The Offer proceeds will be utilized in accordance with the Fundrsquos investment

objectives and policies The Offer costs and expenses amounting to N34387500

(Thirty-Four Million Three Hundred and Eighty-Seven Thousand Five Hundred



Naira) representing 229 of the Offer size shall be borne by the Fund These

costs shall be defrayed from the Offer proceeds

DISTRIBUTIONS The following Distribution options are available to Unit-holders

- Reinvestment Option Under this option distributions are to be automatically

reinvested in additional Units of the Fund at the Offer Price on the day of distribution

- Cash Option Distributions are paid only via electronic transfer to Unit-holderrsquos

account

MINIMUM INVESTMENT PERIOD The minimum holding period for an investment in the Fund is ninety (90) calendar

days from the date of subscription This period commences from the allotment date

for subscribers under the Offer for Subscription of the Fund

For subsequent subscribers the period commences from the date of the respective

subscription

REDEMPTION Every unit holder shall redeem all or part of the Units held by them based on right

at the Bid price on any Business Day provided that the Statements of Unit-holdings

redemption notice(s) and other redemption documents are forwarded to the Fund

Manager on the valuation Day or in accordance with the instructions prescribed

from time to time by the Fund Manager

Minimum permissible holding after partial redemption is 5000 Units or such

balance as advised by the Manager from time to time The Fund will make

redemption payments within five (5) Business Days of receipt of the redemption

Notice No additional charges will be made on redemption However units

redeemed before the expiration of Minimum Investment Period (90 days) will attract

a handling fee charge of 15 of the income accrued on such investment

QUALIFICATION The Units qualify as securities in which Trustees may invest under the Trustee

Investment Act Cap T22 LFN 2004

QUOTATION An application of the fund will be made to Council of the NSE for the listing of the

Fund by Memorandum

STATUS The Units being offered for subscription shall rank pari-passu in all respects with

other future Units to be issued in the Fund

SUBSCRIPTION TO THE FUND Investors can subscribe to Units of the Fund during this initial public offering by

a Filling and returning the Application Form attached to this Abridged

Prospectus Care must be taken to fill the Application Form in accordance

with the instructions set out at the back of the Application Form attached

hereto

b Filling out an Electronic Application Form on the Fund Managerrsquos website

(wwwcoronationamcom)

Investors can also subscribe to Units of the Fund after the initial offering period from

the Fund Manager or any of its designated agentsrepresentatives or through any

medium that may be approved and provided by the Fund Manager from time to

time Payment for Units of the Fund can be made by a personal or managerrsquos

cheque or via a wire transfer made in accordance with instructions on the Form

ELIGIBILITY OF SECURITIES High quality money market instruments unsubordinated short term debt securities

such as Bankersrsquo Acceptances Commercial Papers Deposits (FixedTenored) with

eligible financial institutions and other instruments introduced and approved by the

CBN from time to time and as permissible under SEC Rules These eligible

securities will have received an investment grade rating from a SEC-registered

rating agency

SPONSOR The Fund is sponsored by Coronation Asset Management Limited Coronation

Asset Management is duly registered with the SEC to carry out portfoliofund

management services



PROFIT OR LOSS AND COMPREHENSIVE INCOME PROJECTIONS (Extracted from the Reporting Accountantsrsquo Report)

3 months ending 31 Dec 2017

12 months ending 31 Dec

2018


2019

Nrsquo000 Nrsquo000 Nrsquo000

Revenue Bank Placements 17115 139957 260882

Government Treasuries (AFS) 21942 155508 289868

Banker Acceptances and Commercial Paper 11703 89716 169090

Total Revenue 50760 385181 719840

Operating Expenses Management Fees 5486 44858 90584

Other Operating Expenses 17554 35886 72467

Total Operating expenses 23040 80744 163051

Profit for the year 27720 304437 556789

NET ASSET VALUE PROJECTION (Extracted from the Reporting Accountantsrsquo Report)

3 months ending 31

Dec 2017


2018

12 months ending 31Dec

2019


Net Asset Value at beginning of year 1465613 1493333 3041722

Additions during the year 1500000 3000000

Net Asset Value at end of year 1465613 2993333 6041722


1493333 3297770 6598511

Less Distribution to Unit Holders - (256048) (493701)

Net Asset at year end 1493333 3041722 6104810

INVESTMENT RISKS The risks associated with an investment in the Fund are set out in the section

titled ldquoRisk factorsrdquo on pages 20 and 21 of this Prospectus

SELLING RESTRICTIONS Under no circumstances shall this Prospectus constitute an offer to sell or the

solicitation of an offer to buy or shall there be any sale of these Units in any

jurisdiction in which such offer solicitation or sale would be unlawful

GOVERNING LAW The Offer Documents will be governed by and construed in accordance with the

laws of the Federal Republic of Nigeria


DIRECTORS OF THE FUND MANAGER AND OTHER CORPORATE INFORMATION

CHAIRMAN

MR ABUBAKAR JIMOH CFA

10 AMODU OJIKUTU STREET

VICTORIA ISLAND

LAGOS NIGERIA

DIRECTOR MR AIGBOVBIOSE AIG -IMOUKHUEDE


VICTORIA ISLAND

LAGOS NIGERIA

DIRECTOR (COMPANY SECRETARY) MRS CORNELIA UTUK


VICTORIA ISLAND

LAGOS NIGERIA

DIRECTOR MR EMEKA OKOLO CFA


VICTORIA ISLAND

LAGOS NIGERIA

DIRECTOR MR ABIODUN SANUSI CFA


VICTORIA ISLAND

LAGOS NIGERIA

DIRECTOR MR IVIE OMOROGBE


VICTORIA ISLAND

LAGOS NIGERIA

CORPORATE DIRECTORY OF THE FUND MANAGER CORONATION ASSET MANAGEMENT LIMITED


VICTORIA ISLAND

LAGOS NIGERIA

Telephone +234-01-904 9986

Email investmentcoronationamcom

Website wwwcoronationamcom

PRINCIPAL OFFICERS OF THE FUND MANAGER MR IVIE OMOROGBE (MANAGING DIRECTOR)

MR AKINYEMI OLUWADARE (GROUP HEAD OF OPERATIONS)

MR ADEKUNLE ADELAJA (CHIEF COMPLIANCE OFFICER)

MR TAMUNOIRINAOMI STEVE-TAMUNO (ASSET MANAGEMENT OFFICER)

MS FLORENCE OMONIYI (ASSET MANAGEMENT OFFICER)

MEMBERS OF THE FUND INVESTMENT COMMITTEE MR ABUBAKAR JIMOH CFA

MR AIGBOVBIOISE AIG-IMOUKHUEDE

MR ABIODUN SANUSI CFA

MR EMEKA OKOLO CFA

MR IBRAHIM BELLO

DR OLUBUNMI BAJOMO

MS TOKUNBO AJAYI (REPRESENTATIVE OF THE TRUSTEE)

MR AUSTIN AKPE (REPRESENTATIVE OF THE TRUSTEE)

MR SEGUN OGBONNEWO (INDEPENDENT MEMBER)

FINANCIAL SUMMARY The Audited statement of the fund manager provided on page 24 of this document


PROFESSIONAL PARTIES TO THE OFFER

ISSUING HOUSE CORONATION MERCHANT BANK LIMITED


VICTORIA ISLAND

LAGOS NIGERIA

TRUSTEE TO THE FUND UNITED CAPITAL TRUSTEES LIMITED

12TH FLOOR UBA HOUSE

57 MARINA

LAGOS STATE

CUSTODIAN TO THE FUND CITIBANK NIGERIA LIMITED

27 KOFO ABAYOMI STREET

VICTORIA ISLAND

LAGOS NIGERIA

SOLICITOR TO THE OFFER AKANBI amp WIGWE

2A OBAFEMI ANIBABA STREET

LEKKI PHASE 1

LAGOS

REPORTING ACCOUNTANTS ERNST ampYOUNG

UBA HOUSE

10TH amp 13TH FLOORS 57 MARINA

LAGOS NIGERIA

REGISTRAR UNITED SECURITIES LIMITED


VICTORIA ISLAND

LAGOS STATE

RATING AGENCY AGUSTO amp CO LIMITED

UBA HOUSE 5TH FLOOR

57 MARINA

LAGOS ISLAND

STOCKBROKER CORONATION SECURITIES LIMITED


VICTORIA ISLAND

LAGOS STATE

RECEIVING BANK ACCESS BANK PLC

PLOT 999C DANMOLE STREET

OFF ADEOLA ODEKUIDEJO STREET

VICTORIA ISLAND LAGOS


PARTICULARS OF THE FUND

A BRIEF ON THE FUND

The Coronation Money Market Fund is an open-ended fund authorized and registered in Nigeria as a Unit Trust Scheme

under Section 160 of the ISA The Fund is governed by a Trust deed with United Capital Trustees Limited as Trustees

to the Fund 1500000000 Units are being offered for subscription at the launch of the Fund at N100 per unit of the

Fund

The Fund is structured as an open-ended fund and thus the registered Units will be continuously offered to investors

and the Fund Manager will be ready to redeem the Units at all times throughout the duration of the Trust constituting

the Fund The Fund will invest in government securities fixed deposit commercial paper bankerrsquos acceptance and

other highly liquid and low-risk securities with a maturity not greater than 365 days

CMMFrsquos unique selling point is the bundling of an insurance risk protection plan into the investment The Fund offers

an added benefit of a group personal accident policy to retail investors with a minimum balance of N100000 in the

Fund The Fund would provide a ldquopersonal accident onlyrdquo insurance policy whereby Unit-Holdersinvestors will be

entitled to a scale of compensation for death and permanent disability following an accident to the tune of a 100 of

sum invested as stated in schedule of benefits on page 13 of this Abridged Prospectus

PROSPECT OF THE FUND

The Coronation Money Market Fund offers investors the opportunity to preserve their capital and earn returns from

investments in short term money market securities such as treasury bills commercial papers bankerrsquos acceptance

certificate of deposits and other eligible money market instruments with financial institutions in Nigeria recognized by

the Securities amp Exchange Commission

INVESTMENT OBJECTIVE AND POLICY

The Fund seeks to provide safety liquidity diversification and competitive return The Fund will invest in high quality

short term money market securities unsubordinated short term debt securities such as Bankersrsquo Acceptances

Certificated of Deposits Commercial Papers Collateralised Repurchase Agreements Deposits (FixedTenored) with

eligible financial institutions and other instrument introduced and approved by the Central Bank of Nigeria (CBN)

from time to time as permissible under SEC Rule 470 These eligible securities must have received an investment

grade rating from a SEC-registered agency

Material changes to the fundrsquos investment objective would only be made subject to the prior approval of unitholders

CORPORATE GOVERNANCE

The Fund shall have an Investment Committee (ldquoCommitteerdquo) which shall be primarily responsible for the establishment

of investment and risk management policies of the Fund The Committee will also have oversight over all investment

activities of the Fund consistent with the provisions of the Trust Deed and in accordance with the SEC Rules and

Regulations The membership of the Committee shall include nine (9) members being representatives of the Fund

Manager the Trustee and a member who is independent of the Manager Trustee and Custodian

The Committee shall be responsible for setting guidelines and risk limits for investment of Fund assets which are

supplemental to the related provisions of the Trust Deed and any regulatory constraints to which the Fund is subject

In the event of differences amongst the respective provisions of the Committeersquos guidelines the Trust Deed and any

applicable regulatory requirements the most restrictive provision will apply The Committee will receive and consider

periodic reports including compliance and risk reports relating to the Fundrsquos activities

The Committee will meet at least quarterly to set investment policies determine overall investment strategy and to

consider asset allocation and portfolio reporting The Committee will also set and monitor investment guidelines

including investment concentration and risk limits In addition the annual reports and accounts of the Fund will be

reviewed by the Committee The audited accounts of the Fund will be published and distributed to all Unitholders

annually Monthly and other periodic reports on the activities of the Fund will be filed with the Commission and the

Trustee in accordance with the SEC Rules and Regulations Please see pages 29 amp 30 for the members of the Fund

Investment Committee

ASSET ALLOCATION

The Fund shall invest a maximum of 100 in quality money market instruments with a minimum tenor of 30 days and

a maximum tenor of 365 days a minimum of 25 in short term debt instruments of the Nigerian government a minimum

of 20 of the Fundrsquos asset in Fixed or Tenored instruments including call placements and a maximum of 30 in other

money market securities which include other money market fund

Proposed Asset Class Asset Asset Allocation Range ()

Target Weighting ()

Deposits (FixedTenured) Fixed Deposits 20 ndash 75 40



Short Term Government Securities

Treasury Bills 25 ndash 80 40

Other Money Market Instruments

Commercial Paper Bankersrsquo Acceptance Other Money Market Funds

0 ndash 30 15

Cash Call Placement 0 ndash 5 5

Other money market instrument includes unsubordinated short term debt securities such as Bankersrsquo Acceptances

and Commercial Papers of companies other Money Market Funds and other instruments introduced and approved by

the Central Bank of Nigeria from time to time and as permissible under Securities and Exchange Commission Rules amp

Regulations

INVESTMENT STRATEGY

The Fund Managerrsquos investment philosophy focuses on long-term value creation and wealth protection The Fund will

invest only in eligible securities including high quality money market instruments unsubordinated short term debt

securities such as Bankers Acceptances Commercial Papers Deposits (FixedTenured) with eligible financial

institutions and other instruments introduced and approved by the CBN from time to time and as permissible under

SEC Rules

The Managerrsquos primary goal is to achieve an overall positive total return that is consistent with Unit-Holdersrsquo investment

goals objectives and risk profile Investment decisions will be based on in-depth research analysis thorough due

diligence and continuous assessment of specific investments that offer the best prospects in the short term

The long-term interests of fund investors are central to the way in which the Manager approaches its business and

invest for income and growth The Fundrsquos income strategy seeks to maximize current income while its growth strategy

seeks to maximize capital gains At the core of the investment process and in every investment decision is the risk

management two-step process which are determining what risks exist in an investment and then handling those risks

in a way best-suited to the Fundrsquos investment objectives

TARGET INVESTORS

While the primary target is the retail sector because of their scale and their investment need gap the competitive return

of the Fund will make CMMF an attractive investment option to institutions and high net worth individuals who are

interested in term deposit placement or hybrid current accounts and are looking to achieve higher returns from such

investments than are ordinarily obtainable

The Fund is particularly suitable for investors who seek

Safety and preservation of capital

To reduce concentration risk by diversifying their investments

A short term investment horizon

Require liquidity

To benefit from wholesale deposit return and

A fund in the low risk spectrum and do not want any exposure to equities

INVESTMENT INCENTIVES

The Fund will utilise the market bargaining power obtained from pooling of funds to enable investors enjoy

competitive returns at minimal risk The fund will also give investors access to liquidity diversification tax incentives

and professional portfolio management

INVESTMENT DISCRETION

The Fund Manager will exercise its discretion on investment of the Fund pursuant to the Trust Deed policies instituted

by the Investment Committee and in accordance with the Investment and Securities Act 2007 and Rules and

Regulations of the SEC as prescribed from time to time Within these bounds the Fund Manager will be responsible

for all the decisions as to the investment strategies assets size and timing of the investment the Fund seeks to make

INVESTMENT GUIDELINES AND RESTRICTIONS

The Fund Manager shall strictly adhere to the investment objective of the Fund and shall invest only in such instruments

that are permissible in accordance with SEC Rule 470 allowable under the Trust Deed and authorised by the

Investment Committee The Fund Manager is guided by certain restrictions as stated in the Trust Deed the main

provisions of which are summarised from pages 39 to 49 of the Offer Prospectus



SUBSCRIPTION TO THE FUND

Investors can subscribe to Units of the Fund during this initial public offering by

a Filling and returning the Application Form attached to this Abridged Prospectus Care must be taken to fill the

Application Form in accordance with the instructions set out at the back of the Application Form attached

hereto

b Filling out an Electronic Application Form on the Fund Managerrsquos website (wwwcoronationamcom)

Investors can also subscribe to Units of the Fund after the initial offering period from the Fund Manager or any of its

designated agentsrepresentatives or through any medium that may be approved and provided by the Fund Manager

from time to time Payment for Units of the Fund can be made by a personal or managerrsquos cheque or via a wire

transfer made in accordance with instructions on the Form

FOREIGN CURRENCY INVESTORS

Non-resident subscribers and subscriptions in foreign currency are permissible Subscription monies in foreign

currency shall be converted to Naira determined at the prevailing exchange rate at the time of subscription Foreign

currency subscribers are to also complete the application form and adhere to the instructions at the back of the

application form

CCIs shall be issued by the Receiving Bank to this category of Subscribers within 24 hours of confirmation of receipt

of the subscription amount CCIs are needed to facilitate the subsequent repatriation in a freely convertible currency

of proceeds arising from the sale of Units or from any Distribution of the Fundrsquos income that the Fund Manager may

undertake

INVESTMENT THRESHOLD

The initial minimum investment will be 10000 units of the Fund and additional units will be issued in multiples of 5000

units and payable in full upon subscription

MEETING OF UNIT HOLDERS AND VOTING RIGHTS

As the need arises or at the request in writing of Unit-holders holding not less than 25 (twenty five per cent) in value

of the Units for the time being outstanding (other than Units of which the Fund Manager is beneficial owner) the Fund

Manager shall call a General Meeting of Unit-holders with the consent of the Trustee Any resolution put to vote shall

be decided on a show of hands Each Unit-holder shall have one vote Where a Poll is demanded each Unit-holders

shall have one vote for every unit held

INCOME AND DISTRIBUTION

The Manager intends to distribute income (less expense) as dividend to Unit-Holders on a quarterly basis

DISTRIBUTION OPTIONS AND PAYMENT

The following Distribution options are available to Unit-holders

Reinvestment Option Under this option distributions are to be automatically reinvested in additional Units

of the Fund at the Offer Price on the day of distribution Where an investor reinvested in additional units a

new statement shall be issue to reflect hisher new holding

Cash Option Distributions are paid only via electronic transfer to a Unit-holderrsquos account

TAX CONSIDERATIONS

Distributions of income to unitholders shall be tax exempt Also any capital gains derived by the unitholders from the

redemption of units in the Fund shall be tax exempt Foreign investors should contact their respective tax authorities

for the tax treatment of income earned in Nigeria

Please note that taxation-related issues are subject to changes in legislation Investors are therefore advised to seek

tax advice regarding an investment in the Fund from their professional tax advisers

STATEMENTS OF UNIT-HOLDINGS

Every unit holder shall be entitled to a Statement of Unit-holdings which shall be evidence of their title to the number

of units specified on such documents Joint unit holders shall be entitled to one Statement of Unit-holdings in respect

of the units held jointly by them which shall be delivered to the joint holder whose name first appears on the Register



REDEMPTION OF UNITS

Investors shall have the right to redeem all or part of the Units held by them on any Business Day provided redemption

documents are received in accordance with the instructions specified by the Fund Manager from time to time

Minimum permissible holding after partial redemption is 5000 Units or such balance as advised by the Manager from

time to time The Fund will make redemption payments within five (5) Business Days of receipt of the Redemption

Notice No additional charges will be made on redemption However Units redeemed before the expiration of the

Minimum Investment Period (90 days) will attract a handling fee charge of 15 of the income accrued on such

investment

TRANSFER AND TRANSMISSION OF UNITS

Every Unit-holder shall be entitled to transfer the Units or any of the Units held by him through the Fund Manager in

accordance with the provisions of the Trust Deed The Fund Manager will not transfer or redeem Units without the

submission of a Fund Statement of Unit-holding relating to such Units which must be surrendered before any transfer

or redemption whether for the whole or any part thereof can be processed

VALUATION OF UNITS OF THE FUND

The NAV of the Fund shall be determine on the basis of amortized cost method in line with the rules of SEC The cost

is the price the Fund pays for an instrument or security adjusted for accrual of discount and amortization of premium

QUOTATION

In order to improve visibility of Units of the Fund the Fund Manager shall make all necessary efforts to obtain an

approval of the listing of Units of the Fund on The Exchange To this end a formal application will be made to The NSE

for the admission of the Units to its Memorandum List

FEES CHARGES amp EXPENSES OF THE FUND

INSURANCE POLICY COVER

Group Personal Accident Insurance Policy

The Coronation Money Market Fund offers an added benefit of a group accident policy to Unit holders of the Fund

(applicable only to retail investors with a minimum balance of N100000) The Fund would provide a ldquopersonal accident

onlyrdquo insurance policy whereby unit holdersinvestors will have access to some level of compensation for death and

permanent disability suffered in an accident

In order to maximize unit holderrsquos return the Fund Manager will bear the insurance premium cost for the Group Personal

Accident Policy

Details of the policy are as follows

Conditions

1 No compensation shall be payable in respect of any one Unit-Holder

a Unless the death takes place within 3 calendar months after the date of the accidentinjury

b Unless the permanent disability takes place within twelve calendar months after the date of the accidentinjury

Offer Expenses All charges and fees (including VAT where relevant) for establishing the Fund

including regulatory fees payable to the SEC professional fees to transaction

parties brokerage commission and administrative expenses amounting to and

estimated at N34387500 (Thirty-Four Million Three Hundred and Eighty-Seven

Thousand Five Hundred Naira) representing 229 of the Offer size shall be borne

by the Fund These costs shall be defrayed from the Offer proceeds

Management Fee An annual management fee of 150 of the NAV of the Fund shall be paid to the

Fund Manager This fee will be paid quarterly in arrears and represents the

remuneration due to the Fund Manager for the management and advisory roles

involved in the day-to-day management of the Fund

Operating Expenses All operating expenses including charges and expenses incurred in connection with

the management of the Fund plus annual fees payable to the Trustee Auditors

Custodian and Rating Agency shall not exceed 5 of the NAV of the Fund



2 The insured shall not be entitled to compensation under more than one item in respect of the same injury to one

Unit-Holder

3 Payment of claim as compensation shall be made as stated in the schedule of benefit (See page 13)

4 In the event of a Unit-Holder being accepted for insurance whilst already suffering from a permanent disablement

or if the insurance be continued after such disablement in accordance with the terms of provision 3 above it is

hereby understood that should such Unit-Holder sustain any further disablement compensation as provided by this

policy for such further disablement under item 1(b) shall be calculated as that which would have been payable had

the previous disability not existed

Exclusions

This policy does not apply to bodily injury whether fatal or non-fatal or blindness directly or indirectly by or resulting

from or traceable to

i An accident happening when the Unit-holder is under the influence of intoxicating liquor or of a drug (unless

administered under the orders of a hospital or a qualified medical practitioner) or is in a state of insanity

ii The Unit-Holder being affected (Temporarily or otherwise) by alcohol drugs or insanity

iii Suicide or attempted suicide war invasion act of foreign enemy hostilities (whether war be declared or not)

civil-war rebellion riot civil commotion revolution insurrection or military or usurped power and terrorism

iv The Unit-Holder playing football for or against professional clubs polo or motorcycling (whether as driver or

passenger) or mountaineering (with the use of ropes or guides) skiing skijoring tobogganing bob-sleighing

hunting or participating in speed or duration test or races of any kind (other than athletics)

v Child bearing or other physical or natural causes peculiar to the female sex

vi Air travel (other than as a fare-paying passenger by a regular schedule Air-line Service)

vii Any Unit-Holder involved in any form of military exercises

viii Any Unit-Holder riding on motorcycle whether as a passenger or rider and

ix Any Unit-Holder dying of natural causes or sickness

Description of Benefits

Definitions

ldquoTotally Disabled and Total Disabledrdquo means the insured person is unable to engage in any occupation or employment

for compensation or profit for which the insured person is reasonably qualified by education training or experience and

is under the continuous care and treatment of a physician

ldquoTotally and Permanently Disabledrdquo means the insured person is unable to engage in any substantially gainful

occupation or employment for the remainder of the insured personrsquos life

ldquoElimination Periodrdquo means the number of consecutive days as stated in the Schedule of Benefits Commencing with

the first day the insured person is Totally Disabled for which no benefits are payable

ldquoPhysicianrdquo means a person legally licensed to practice medicine andor surgery other than the insured person or a

member of the insured personrsquos immediate family

ldquoHospitalrdquo means an establishment which meets all of the following requirements

i holds a license as a hospital if licensing is required in the country or government jurisdiction

ii operates primarily lsquofor the reception care and treatment of sick ailing or injured persons as inpatientsrsquo

iii provides 24-hours a day nursing service by registered or graduate nurses

iv has a staff of one or more physicians available at all times

v provides organized facilities for diagnosis and major surgical procedures

vi is not primarily a clinic nursing rest or convalescent home or similar establishment and is not other than

incidentally a place for alcoholics or drug addicts and

vii maintains X-ray equipment and operating room facilities

Benefit A Accident Death and Permanent Disablement

If such injury results in loss of life of an insured person within three (3) months after the date of the accident the Fund

Manager will pay the principal sum applicable to the stated beneficiary in accordance with the Classification of insured

persons and Schedule of Benefits

If such injury does not result in loss of life of the insured person but does result within three hundred and sixty-five (365)

days in any one of the specific losses shown in the Schedule below the Fund Manager will pay the Schedule

percentage of the principal sum applicable to such Insured Person in accordance with the classification of Insured

Persons and Schedules of Benefits



However under no circumstances will payment be made for more than one such loss the greatest sustained by any

one insured person as a result of any one accident

ACCIDENTINJURY COMPENSATION ACCIDENTINJURY COMPENSATION

Loss of both hands 100 Loss of whole little finger 4

Loss of arm at shoulder 60 Loss of sight of both eyes 100

Loss of arm between shoulder and elbow

50 Loss of one eye 50

Loss of arm below elbow 45 Deafness one ear 50

Loss of arm between elbow and wrist

45 Loss of one ear to deafness

10

Loss of hand below wrist 45 Loss of both feet 100

Loss of four fingers and thumb

40 Loss of leg at hip 70

Loss of four fingers 35 Loss of leg between knee and hip

50

Loss of whole thumb 25 Loss of leg below knee 35

Loss of whole index finger 10 Loss of all toes 15

Loss of whole middle finger

6 Loss of big toe 5

Loss of whole ring finger 5 Loss of other toes 1

The complete and irrecoverable loss of use of any part of the body specified above shall be deemed to be the loss of

such part In the event of partial loss of any part of the body specified above a proportionately lower percentage of the

principal sum shall be payable such percentage to be determined solely by the insurance company

Benefit B Permanent Total Disability

If as the result of such injury and within three hundred and sixty-five (365) days after the date of the accident an insured

person becomes Totally Disabled and such disability has continued for a period of twelve (12) consecutive months

and if the Insured Person is Totally and Permanently Disabled at the end of this period the Fund Manager will pay the

principal sum to such insured person in accordance with the Classification of Insured Persons and Schedule of Benefits

(See page 13) less any amount paid or payable as a result of the same accident under other sections of Benefit A at

the rate of one (1) percent per month if the Insured Person remains Totally and Permanently Disabled to a maximum

of one hundred (100) months

RISK FACTORS

Whilst there are a number of factors that may affect the performance of any asset class a summary of the major risks that can significantly affect the Fundrsquos performance and should therefore be considered when investing in the Fund are listed below

Money Market Fund Risk

Although the Fund seeks to maintain the value of your investment there is no assurance that it will be able to do so

and it is possible to lose money by investing in the Fund

The market value of the Fund would fluctuate due to changes in interest rates A rise in interest rates would result in

a decline in the market value of the Fund while a fall in interest rates would increase the market value of the Fund

Income Risk

Short-term funds as money market funds do not generate a level of income as high as funds that invest in longer-

term instruments Because the Fund will invest in short-term instruments the Fundrsquos dividend yields will fluctuate

based on changes in short-term market interest rates

The decline in interest rates will result in a decline in the yield of the Fund

Credit Risk

Credit risk is the risk that a borrowerissuer of fixed income securities in which the Fund Manager may invest will be

unable to make payment or interest as and when due While the Fund Manager would only invest in investment

grade rated securities there is no guarantee that the ratings of the issuer will remain the same throughout the tenor

of the investment In addition investment rating are not a guarantee that an issuer will always honour its maturing

obligations



FGN Obligations Risk

FGN obligations are subject to low but varying degrees of credit risks and are still subject to interest rate and market

risk While Treasury Bills and Debt Management Office-issued obligations are backed by the ldquofull faith and creditrdquo of

the FGN securities issued by the government agencies or government-sponsored entities may not be backed by the

full faith and credit of the FGN If a government-sponsored entity is unable to meet its obligations or its

creditworthiness declines the performance of the Fund that holds securities issued or guaranteed by the entity will

be adversely impacted

Reinvestment Risk

This is the risk that future money market investments might be at a lower interest rate in comparison to the prevailing

rate or that there may be no viable investment opportunity to re-invest in This is possible in a declining interest rate

environment due to the short term maturity of the investible assets

Foreign Currency Risk

This is the risk that exchange rates may significantly fluctuate (including changes due to devaluation of Naira being

the specified currency for the Fund or the revaluation of an investorrsquos currency) and the risk that authorities with

jurisdictions over the investorrsquos currency may impose or modify exchange controls

Inflation Risk

Inflation risk is the risk that an increase in price levels will undermine the purchasing power of the Fundrsquos value of

investment and returns

RISK MANAGEMENT STRATEGY

Whilst it is important to note that not all investment risks can be predicted the Fund Manager will ensure that a robust

risk management framework is established and integrated into every aspect of the Fundrsquos investment process The risk

management framework will primarily focus on the risks discussed above

The under-listed elements of the Risk Management Framework shall be put in place by the Fund Manager

The Fund Manager shall from time to time stress test the portfolio using various simulation scenarios to

show any potential risk that could impact the Fund The result of the test shall be reported to the investment

committee

In accordance to SEC rule 472 on portfolio maturity for money market investments the Fund Manager shall

ensure that the weighted average maturity of the Fund shall not exceed 90 days This will limit the impact

that changes in market rates have on the money market instruments

The Fund Manager shall ensure that the Fundrsquos assets are adequately diversified among the approved

issuers and money market instruments The credit ratings of approved Issuers will also be monitored on an

ongoing basis


FINANCIAL PROJECTIONS

LETTER FROM THE REPORTING ACCOUNTANTS

The following is a copy of the letter on the Profit Forecast by Ernst amp Young the Reporting Accountants to the Offer



MEMORANDUM ON THE PROFIT FORECAST

The Fund Manager has projected the profit for the 3 months ending December 31 2017 and the years ending December

31 2018 and 2019 respectively and is of the opinion that subject to unforeseen circumstances and based on the

assumptions stated below the profits before distribution of Coronation Money Market Fund for the period ending

December 31 2017 and the years ending December 31 2018 and 2019 will be in the order of N27720 million

N304437 million and N556789 million respectively

UNDERLYING ASSUMPTIONS FOR THE PROFIT FORECAST

1 Introduction

This memorandum has been prepared to summarize the information available to the Fund Manager and their basic

assumptions at the time of preparing the forecast of the profits for the 3 months ending 31 December 2017 and

the years ending 31 December 2018 and 2019 respectively

2 Forecast

The Fund Manager is of the opinion that subject to unforeseen circumstances and based on the assumptions stated below the net income before distribution for the 3 months ending 31 December 2017 and the years ending 31 December 2018 and 2019 respectively will be in order of N27720 million N304437 million and N556789 million respectively

The Fund Manager has based the profit forecast for 2017 on 3 months from October 2017 to December 2017 while

the profit forecast for 2018 and 2019 would run for 12 months each The investment and income distribution for

2017 will consequently run from 1st October 2017 to 31st December 2017

3 Basis of Assumptions

The prospective financial information has been arrived at on the following bases and assumptions

A Basis

The prospective financial information for the 3 months period ending 31 December 2017 and the years ending

31 December 2018 and 2019 have been prepared in compliance with the requirements of International

Financial Reporting Standards

B Assumptions

These assumptions are based on the prevailing monetary policies that govern the operations of operators in

the money market

i Based on the projected level of operations the Net Income of the Fund for the 3 months ending 31 December 2017 and the years ending 31 December 2018 and 2019 respectively will be approximately N27720 million N 304437 million and N 556789 million respectively

ii The Fund will be set up in 2017 with a fund size of one billion five hundred million Naira (N1500000000) and is expected to be fully subscribed within the initial subscription period

iii Investment is expected to commence at the start of the fourth quarter in 2017

iv Additional investments in the fund are estimated to be 0 100 amp 200 of the opening balance of year 2017 in years 2017 2018 and 2019 respectively

v All charges and fees for establishing the Fund are estimated at 229 of the offer proceeds and this amount to N34388 million This amount is payable by the Fund and will be deducted from the initial N15 billion to be raised from the Offer

vi Other operating expenses are estimated at 095 of the Net Asset Value (ldquoNAVrdquo) of the Fund

vii It is estimated that annual management fees of 150 of the Net Asset Value (ldquoNAVrdquo) will be payable to the Fund Manager

viii The Fund would provide an lsquoaccident onlyrsquo insurance policy whereby Unit-Holdersinvestors with a minimum balance of N100000 will be entitled to a scale of compensation for death and permanent disability following an accident to the tune of a 100 of sum invested

ix The net offer proceed will be invested in money market instruments and the income earned from these investments is not taxable

x Distributions to unit holders are estimated at 100 of the Net Income of the Fund in any year and Interest income distributable to unit holders will be on quarterly basis

STATEMENT OF ACCOUNTING POLICIES

The following is a summary of the significant accounting policies adopted in the preparation of the prospective financial

information of the Fund and have been consistently applied throughout the forecast period



1 Basis of Preparation

a Statement of compliance

The prospective financial information of the Fund for the 3 months ending 31 December 2017 and the years

ending 31 December 2018 and 2019 have been prepared in accordance with International Financial Reporting

Standards (IFRSs)

b Basis of measurement

The prospective financial information has been prepared on certain assumptions as described in the notes

c Functional and presentation currency

This prospective financial information is presented in Naira which is the Fundrsquos functional currency All financial

information presented in Naira has been rounded to the nearest thousand

d Use of estimates and judgments

The preparation of the prospective financial information in conformity with IFRSs requires management to make

judgements estimates and assumptions that affect the application of accounting policies and the reported

amounts of assets liabilities income and expenses Actual results may differ from these estimates

Estimates and underlying assumptions are reviewed on an ongoing basis Revisions to accounting estimates

are recognised in the period in which the estimates are revised and in any future periods affected

2 Revenue Recognition

Interest Income and Expense

Interest income and expense are recognised in profit or loss using the effective interest method

The effective interest rate is the rate that exactly discounts the estimated future cash payments and receipts

through the expected life of the financial instruments (or when appropriate a shorter period) to the carrying amount

of the financial instrument When calculating the effective interest rate the Fund estimates future cash flows

considering all contractual terms of the financial instrument but not future credit losses Interest received or

receivable and interest paid or payable are recognised in profit or loss as interest income and interest expense

respectively

3 Net Gains on Investment Securities

Net gains on investment securities comprises gains and losses related to assets and liabilities and includes all

realised and unrealised fair value changes interest and dividends

4 Dividend Expense

Distributions to unit holders are estimated at 100 of the Net Income of the Fund in any year and Interest income

distributable to unit holders will be on quarterly basis

5 Taxation

Income from discounted money market instruments are tax free and such incomes are not subjected to any form

of tax

6 Cash and Cash Equivalents

Cash and cash equivalents include cash in hand fundrsquos deposits with banks in Nigeria in highly liquid financial

assets with original maturities of less than three months from the acquisition date which are subject to

insignificant risk of changes in their fair value and are used by the Fund in the management of its short-term

commitments

Cash and cash equivalents are carried at amortised cost in the statement of financial position These include

fundrsquos deposits with banks in Nigeria and cash in hand at the end of each reporting date

7 Government securities and other money market securities

These instruments are designated as financial instrument and are accounted for in line with the provision of IAS

39 as financial assets available for sale (AFS)

8 Time deposit

Time deposits with banks are classified as loans and receivables in accordance with IAS 39 Loans and receivables

are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market



Recognition

All financial assets and liabilities are initially recognized when and only when the Fund becomes a party to the

contractual provisions of the instrument Purchases or sales of financial assets that require delivery of assets within

the time frame generally established by regulation or convention in the market place are recognized on the

settlement date ie the date that the assets are delivered to the Fund

Subsequent measurement

Loans and receivables are carried at amortized cost using the effective interest method less any allowance for

impairment Gains and losses are recognized in profit or loss when the loans and receivables are derecognized or

impaired as well as through the amortization process Interest earned on such instruments is recorded in Interest

income in the statement of comprehensive income

Initial measurement

Loans and receivables are measured initially at their fair value plus any directly attributable incremental costs of

acquisition

The effective interest method is a method of calculating the amortised cost of a financial asset or a financial liability

and of allocating the interest income or interest expense over the relevant period The effective interest rate is the

rate that exactly discounts estimated future cash payments or receipts through the expected life of the financial

instrument or when appropriate a shorter period to the carrying amount of the financial asset or financial liability

When calculating the effective interest rate the Fund estimates cash flows considering all contractual terms of the

financial instruments but does not consider future credit losses The calculation includes all fees paid or received

between parties to the contract that are an integral part of the effective interest rate transaction costs and all other

premiums or discounts

Derecognition

A financial asset (or where applicable a part of a financial asset or part of a group of similar financial assets) is

derecognised when

the rights to receive cash flows from the asset have expired or

the Fund has transferred its rights to receive cash flows from the asset or has assumed an obligation to pay

the received cash flows in full without material delay to a third party under a `pass-through arrangement

and

either

a the Fund has transferred substantially all the risks and rewards of the asset or

b the Fund has neither transferred nor retained substantially all the risks and rewards of the asset but

has transferred control of the asset

When the Fund has transferred its rights to receive cash flows from an asset or has entered into a pass-through

arrangement and has neither transferred nor retained substantially all of the risks and rewards of the asset nor

transferred control of the asset the asset is recognised to the extent of the Funds continuing involvement in the

asset In that case the Fund also recognizes an associated liability The transferred asset and the associated

liability are measured on a basis that reflects rights and obligations that the Fund has retained

A financial liability is derecognised when the obligation under the liability is discharged or cancelled or expired

Impairment of financial assets

The Fund assesses at each reporting date whether a financial asset or a group of financial assets classified as

loans and receivables is impaired A financial asset or group of financial assets is deemed to be impaired if and

only if there is objective evidence of impairment as a result of one or more events that have occurred after initial

recognition of the asset (an incurred loss event) and that loss event has an impact on the estimated future cash

flows of the financial asset or group of financial assets that can be reliably measured

Evidence of impairment may include indications that the debtor or a group of debtors is experiencing significant

financial difficulty the probability that they will enter bankruptcy or other financial reorganization default or

delinquency in interest or principal payments and where observable data indicates that there is a measurable

decrease in the estimated future cash flows such as changes in arrears or economic conditions that correlate with

defaults



If there is objective evidence that an impairment loss has been incurred the amount of loss is measured as the

difference between the assets carrying amount and the present value of estimated future cash flows (excluding

future expected credit losses that have not yet been incurred) discounted using the assets original effective interest

rate The carrying amount of the asset is reduced through the use of an allowance account and the amount of the

loss is recognized in profit or loss as a Credit loss expense

Impaired debts together with the associated allowance are written off when there is no realistic prospect of future

recovery and all collateral has been realized or has been transferred to the Fund If in a subsequent period the

amount of the estimated impairment loss increases or decreases because of an event occurring after the

impairment was recognized the previously recognized impairment loss is increased or reduced by adjusting the

allowance account If a previous write-off is later recovered the recovery is credited to the Credit loss expense

Interest revenue on impaired financial assets is recognized using the rate of interest used to discount the future

cash flows for the purpose of measuring the impairment loss

Offsetting financial instruments

Financial assets and financial liabilities are offset and the net amount reported in the statement of financial position

if and only if there is a currently enforceable legal right to offset the recognized amounts and there is an intention

to settle on a net basis or to realize the asset and settle the liability simultaneously

9 Equity

Equity is the residual interest in the assets of the Fund after deducting all its liabilities

10 Liabilities

A liability is a present obligation of the fund arising from past events the settlement of which is expected to result

in an outflow from the fund of resources embodying economic benefit The liability refers to dividend payable to

unit holders

11 Standards issued but not yet effective

Standards issued but not yet effective up to the date of issuance of the Funds financial statements are listed below

The Fund intends to adopt applicable standards when they become effective

IFRS 7 Disclosures mdash Offsetting Financial Assets and Financial Liabilities mdash Amendments to IFRS 7

These amendments require an entity to disclose information about rights to set-off and related arrangements (eg

collateral agreements) The disclosures would provide users with information that is useful in evaluating the effect

of netting arrangements on an entitys financial position The new disclosures are required for all recognised

financial instruments that are set off in accordance with IAS 32 Financial Instruments Presentation The

disclosures also apply to recognised financial instruments that are subject to an enforceable master netting

arrangement or similar agreement irrespective of whether they are set off in accordance with IAS 32

IFRS 9 Financial Instruments Classification and Measurement

IFRS 9 as issued reflects the first phase of the IASBs work on the replacement of IAS 39 and applies to

classification and measurement of financial assets and financial liabilities as defined in IAS 39 The standard is

effective for annual periods beginning on or after 1 January 2015 In subsequent phases the IASB will address

hedge accounting and impairment of financial asset The adoption of the first phase of IFRS 9 will have an effect

on the classification and measurement of the Funds financial assets but will potentially have no impact on

classification and measurements of financial liabilities The Fund will quantify the effect in conjunction with the

other phases when issued to present a comprehensive picture











IFRS 13 Fair Value Measurement

IFRS 13 establishes a single source of guidance under IFRS for all fair value measurements IFRS 13 does not

change when an entity is required to use fair value but rather provides guidance on how to measure fair value

under IFRS when fair value is required or permitted The Fund would assess the impact that this standard will have

on the financial position and performance

IAS 32 Offsetting Financial Assets and Financial Liabilities mdash Amendments to 1AS 32

These amendments clarify the meaning of currently has a legally enforceable right to set-off The amendments

also clarify the application of the IAS 32 offsetting criteria to settlement systems (such as central clearing house

systems) which apply gross settlement mechanisms that are not simultaneous



STATEMENT OF COMPREHENSIVE INCOME




2018


2019





Total Revenue 50760 385181 719840





STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2017 2018 AND 2019

Notes Dec 2017 Dec 2018 Dec 2019


Assets

Cash amp Bank Balances 27720 76109 139197

Investment Securities

Bank Placements 585127 1196215 2415571

Government Treasuries 585127 1196215 2415571

Non-Government Discount Securities

Banker Acceptances and Commercial Paper

292564 598108

1207785

Total Assets 1490538 3066647 6178124

Liabilities

Interest Payable - - -

Net Asset 1490538 3066647 6178124

Equity

Unit holdersrsquo Account 1462818 2990538 6038927

Retained Earnings 27720 76109 139197

1490538 3066647 6178124



STATEMENT OF CASH FLOWS

3 months ending 31

Dec 2017


2018


2019


Cash flows from operating activities

Income 50760 385181 719840

Management Fees (5486) (44858) (90584)

Other Operating expenses (17554) (35886) (72467)

Cash Flow from Operations 27720 304437 556789

Cash flows from investing activities

Purchase of Money Market Instruments (1462818) (1500000) (3000000)

Net cash used in Investing Activities (1462818) (1500000) (3000000)

Cash flows from financing activities

Proceeds from issue 1462818 1500000 3000000

Distributions (256048) (493701)

Net cash used in financing activities 1462818 1243952 2506299

Net increase in cash and cash equivalents 27720 48389 63088

Opening cash and cash equivalents - 27720 76109

Closing cash and cash equivalents 27720 76109 139197

NET ASSET VALUE PROJECTION


3 months ending 31

Dec 2017


2018


2019






1493333 3297770 6598511





NOTES TO THE PROFIT FORECAST

1 Reporting Entity

Coronation Money Market Fund (the lsquoFundrsquo) is a Fund domiciled in Nigeria The Fund is an open-ended investment

fund primarily involved in investing in a diversified portfolio of money market instruments with the objective of

providing unit holders with competitive returns while safeguarding original investment

The investment activities of the Fund are managed by Coronation Asset Management Limited (the investment

manager) a subsidiary of Coronation Merchant Bank Limited currently registered by the Securities amp Exchange

Commission to carry out portfoliofund management services The investment manager was set up in line with

Coronation Merchant Bank Limitedrsquos objective to be a one-stop financial institution as well as the identified need

to optimize its fund under management and booster its revenue base


The balance in this account represents cash available for distribution to unit holders at the balance date

3 Money Market Securities

2017 2018 2019 Nrsquo000 Nrsquo000 Nrsquo000

Balance at the beginning of the year 1500000 1491098 3045819 Issue Cost (34388) - - Addition during the year - 1500000 3000000

Balance at the end of the year 1491098 3045819 6110429

4 Investment Management Fees

An annual investment management fee of 150 of the Net Assets Value is payable to the fund manager out of

which the fund manager will pay the premium to cover a group accident policy for each of the fund unit holder

5 Other Operating Expenses

Other operational expenses are made up of Trustees fees solicitorrsquos fees custodian fees auditorsrsquo fees annual

rating fee and other administrative charges This is estimated at 095 of the Net Assets Value

6 Interest Payable

Interest payable is the interest distributable to unit holders in the fund Interest income distributable to unit holders

will be on quarterly basis The balance in interest payable account is the interest accrued at balance sheet date

and becomes payable at the beginning of the following quarter

7 Unit holdersrsquo Account


Balance at the beginning of the year 1500000 1491098 3045819

Issue Cost (34388) - - Addition during the year - 1500000 3000000



HISTORICAL FINANCIAL INFORMATION OF CORONATION ASSET MANAGEMENT LIMITED

AUDITED STATEMENT OF FINANCIAL POSITION OF CORONATION ASSET MANAGEMENT LIMITED AS AT

31ST DECEMBER 2016

31 December 2016 31 December 2015

Nrsquo000 Nrsquo000

Assets

Cash amp Short Term Fund 301556 -

Financial Assets

Available for Sale 1070720 -

Loans amp Other Receivables 16243 -

Other Assets 1682 -

Investment Properties 686865 -

Investment in subsidiaries 300000 -

Property and equipment 14322 -

Deferred tax asset 9432 -

Total Assets 2400820 -

Liabilities

Accruals and other liabilities 357679 -

Tax payable - -

Total Liabilities 357679 -

Equity

Share capital 2000000 -

Share Premium - -

Retained earnings 30187 -

Available for sale reserve 12955 -

Total equity 2043142 -

Total Liabilities amp Equity 2400821 -

AUDITED STATEMENT OF COMPREHENSIVE INCOME OF CORONATION ASSET MANAGEMENT LIMITED FOR

THE PERIOD ENDED 31ST DECEMBER 2016


Nrsquo000 Nrsquo000

Fees and commission 9958 -

Interest income 70162 -

Other income 220 -

80340 -

Operating expenses 59586 -

Profit(Loss) Before Tax 20755 -

Taxation 9432 -

Profit(Loss) After Tax 30187 -

Other comprehensive income(loss)

Items that may be subsequently reclassified to profit or loss

Fair value (loss)income on available for sale assets

12955 -

Total Comprehensive Income for the Year 43142 -


INFORMATION ON THE FUND MANAGER THE TRUSTEE AND THE CUSTODIAN

BRIEF PROFILE OF THE FUND MANAGER

Coronation Asset Management Limited (ldquoCAML) was incorporated on October 2nd 2015 with an authorized and fully

paid up share capital of N2 billion CAML is a wholly owned subsidiary of Coronation Merchant Bank Limited and is

registered by the Nigerian Securities amp Exchange Commission to carry out portfoliofund management services

CAML is committed to delivering insightful investment solutions which are tailored to meet the investment objectives of

its diverse client base The Company believes in developing strategic partnerships with its clients which involves a

thorough understanding of all their financial needs all through their investment lifecycle To achieve this CAML

develops products and services aimed at delivering optimal returns for its clients while ensuring the adoption of a broad

risk management practice

CAML possesses integrity excellence and result oriented team We are committed to value investing with the focus on

realising optimal returns over the long term from the investments we make by adopting a combination of top-down and

bottom-up approach to asset selection

This process is supported by diligent and robust research However our approach remains dynamic to ensure short-

term risk is adequately managed and clientrsquos values are preserved

CAML offers the following products to its clientele

Portfolio Management Services

This product is tailored for institutions and high net worth individuals It involves discretionary and non-

discretionary portfolio management and financial planning services to this select group CAML offers advice

to clients on investment mix and policy matching investments to objectives asset allocation and balancing

risk against performance

Mutual Funds

Given the understanding that some investment procedures and financial requirement could act as stumbling

blocks especially to the retail segments CAML will pool funds from various investors in the retail segment and

professionally manage it to generate income and capital gains The simplicity affordability and professional

management of this product helps cater for the needs of the retail segment In addition as an added value

the Fund would provide retail investors with a minimum balance of N100000 with an insurance risk protection

(group personal accident policy)

DIRECTORS OF THE FUND MANAGER

Abubakar Jimoh CFA ndash Chairman

Mr Abubakar Jimoh has over 24 yearsrsquo experience in various capacities covering client relationship management treasury market risk credit risk management operational risk management project management portfolio management SOX and Basel II and ICAAP implementations and amongst others Mr Jimoh was a pioneer staff of Express Discount Limited where he rose to the level of Head of Trading before relocating to Canada in 1998 He held various positions at RBC Financial Group (Royal Bank of Canada) between 1999 and 2005 After his stint at RBC Financial Group Mr Jimoh worked at African Development Bank (AfDB) where he rose to the position of Divisional Chief in charge of Private Sector Portfolio Management Prior to his employment in ADHL as the MDCEO he was a General Manager and Divisional Head UBA Group Balance Sheet Management Market Risk and Investor Relations

Aigbovbioise Aig-Imoukhuede - Director

Mr Aig-Imoukhuede holds a Bachelorrsquos degree in Business Studies from the University of Buckingham UK and has over 18 yearsrsquo experience in financial services spanning Corporate and Investment Banking Commercial Banking Private Banking Treasury Funds Management and Securities Trading Mr Aig-Imoukhuede started his banking career with Fidelity Bank in 1997 where he worked in various capacities in Retail Banking Private Banking Commercial Banking Public Sector and Treasury and Funds Management Also he has worked with MBC Securities and First Bank Plc where he worked in various capacities in Commercial and Corporate Banking as well as Head Construction and Real Estate Prior to joining Coronation Merchant Bank he was a director of Wealth Management in charge of relationship management and business development at Marina Securities Limited (MSL)



Emeka Okolo CFA - Director

Mr Emeka Okolo has 16 yearsrsquo experience in asset management and treasury providing wealth and

investment management solutions to individual and institutional clients as well as managing mutual and

pension funds

He was an Assistant Vice PresidentSenior Portfolio Manager with Asset Resources Management Company

(ARM) prior to joining Coronation Merchant Bank At ARM he led the investment management teams in both

the Pension and Non-Pension businesses overseeing US$2billion in Funds Under Management

Also he has worked as a fund manager with Investment One Financial Services and Fidelity Bank where he

managed a balanced mutual fund Mr Okolo has a BSc in Applied Mathematics from the University of Benin

and has an MBA from Imperial College London He is a CFA charter holder

Abiodun Sanusi CFA - Director

Mr Abiodun Sanusi has over 13 years of Investment Banking experience advising on transactions with a

cumulative value of over US$5 billion

He was the deputy head of investment banking at Vetiva Capital Management Limited and later joined

Renaissance Capital as Vice President of Investment banking in August 2011 where he rose to the position

of a Director in December 2014 and was responsible for the origination structuring and execution of equity

and debt primary offerings M amp A and project finance deals

He is a First Class Accounting graduate from the University of Lagos and has an MBA from Wharton Business

School Pennsylvania University USA He is also a Fellow of the Institute of Chartered Accountants of Nigeria

and a CFA charter holder

Cornelia Utuk - Director

Mrs Utuk began her career at UBA (formerly Standard Trust bank) where she worked in the credit office from

1999 to 2007

She then left UBA in December 2007 to join Marina Securities Limited (ldquoMSLrdquo) as the Company Secretary and

Head of Corporate Services

Mrs Utuk joined Coronation MB in September 2014 and currently serves as an Executive Vice President and

Company SecretaryLegal Adviser

Ivie Omorogbe ndash Managing Director

Mr Ivie Omorogbe has over 9 yearsrsquo experience in wealth and portfolio management providing investment

management solutions to individual and institutional clients as well as managing mutual funds He started his

career in Afrinvest as an investment analyst His core expertise is in equities and money market investments

He joined Diamond Securities as an Associate investment and portfolio manager in 2011 He worked as Fund

manager at AIICO Capital and managed in excess of N45 billion Asset Under Management were he launched

AIICO money market fund a flagship fund in 2014 Ivie holds a Bachelor of Science degree in Business

Administration and Management studies from Igbinedion University Okada Edo State He has also attended

several courses relating to the Nigerian Capital Market

PRINCIPAL OFFICERS OF THE FUND MANAGER

Ivie Omorogbe (Managing Director)

Please see profile above

Akinyemi Oluwadare (Group Head of Operations)

Mr Oluwadare has over 11 yearsrsquo experience in core banking operations

He began his career with Access Bank Plc where he rose to Team Lead Account Reconciliation of Treasury

Operations department He later joined Standard Chartered Bank (Nigeria) Limited where he was in charge

of Operational Risk Management of Financial Market Operations of the Bank in Nigeria and some West African

Countries

He joined the Coronation Group in 2015 as Group Head of Operations where he is responsible for the

Centralized Operations of the Group which covers Customer Service functions Core Operations of the Group

as well as Reconciliation of Accounts



Mr Akinyemi is an Accounting graduate of Obafemi Awolowo University (2005)

Adekunle Adelaja (Chief Compliance Officer)

Mr Adekunle Adelaja is a Chartered Banker with over 12 yearsrsquo experience He started his banking career in

January 2002 with Union Bank Plc where he worked in banking operations and thereafter moved to Capital

Bank International (Credit Lyonnais) in July 2003 before joining the Audit Investigation and Compliance Unit

of Access Bank Plc in 2005 as an Internal Auditor

In October 2007 he joined Intercontinental Bank Plc where he worked in various departments from

Compliance Credit Control and Monitoring Credit Analysis Internal Audit amp Control before moving back to

Access Bank Plc in February 2012 to work in the Enterprise Risk Management (ERM) Division of the Bank

He joined the Management Team of AIICO Capital in July 2013 where he held various functions and

responsibilities ranging from Financial Reporting amp Control Operations Management before he was

appointed to oversee the Companyrsquos Compliance Department Prior to joining Coronation Asset Management

he had a stint at Resonate Capital amp Consulting Limited as Manager Operations amp Compliance

Adekunle joined Coronation Asset Management Limited in August 2016 as the Chief Compliance Officer

Tamunoirinaomi Steve-Tamuno (Asset Management Officer)

Steve-Tamuno Tamunoirinaomi started his working career with Access Bank Plc in 2006 before joining the

Calvary Group where he worked as a Business Solutions Manager for 7 years At the group he provided an

effective front middle and back office integration expertise that ensured high quality data support for improved

management decision making The grouprsquos interest spanned across Oil amp Gas Real Estate and Investment

Management

He holds a BSc degree in Business Administration from the University of Lagos and an MBA from the

University of Chester UK

Tamuno joined Coronation Asset Management Limited in January 2017 as an Asset Management Officer

Florence Omoniyi (Asset Management Officer)

Florence Omoniyi has over 8 yearsrsquo experience in Customerrsquos Service Relationship Management and Stock

Broking Operations

She started her career with Marina Securities Limited in 2008 as a Client Services Officer In addition to her

strong skills and experience in Customer Service and Relationship Management she is an Associate member

of Chartered Institute of Personnel Management (CIPM) and the Nigerian Institute of Management (NIM)

She has bachelorrsquos degree in Guidance and Counselling from the University of Ilorin Florence joined

Coronation Asset Management Limited in September 2016 as an Asset Management Officer

BRIEF PROFILE OF THE TRUSTEE

United Capital Trustees Limited (ldquoUCTrdquo) commenced business over five (5) decades ago and is a leading Nigerian

trustee company UCTrsquos sole business is trusteeship and the company plays a key role in major financing transactions

charged with protecting the interests of lenders and investors keeping custody of assets documents rights shares

funds and other holdings in financial transactions

UCT is a renowned name and a foremost player in the Nigerian trust services industry UCT is one of the leading

companies in each sub-segment of the Trust services market across capital market business types Corporate amp

Government Bonds Debenture Trusts Mutual Funds and Real Estate Investment Trusts (REITs)

UCT possesses quality depth and extensive experience in a wide range of money capital market and real estate

transactions with Trust mandates well in excess of N60 Trillion

UCT possess superior skills having on our team the most experienced industry experts including the Vice President

and one of the Pioneer Trustees of the Association of Corporate Trustees We are also represented on key industry

Committee ie the Capital Market Committee

UCT operate solely as a Trust company which avails the company the benefit of-

Focus and specialization

Absence of conflicts with clientsrsquo interests

Non-competition with clients

UCT is a member of United Capital Plc



UCT is a wholly owned subsidiary of United Capital Plc with five (5) decades of experience in Trust Services UCT has

a distinguished track record in Public amp Corporate Trust Services in Nigeria with a vast client base including leading

multinationals and corporates as well as Federal amp State Governments and their Agencies

MANAGEMENT PROFILE OF TRUSTEES

Tokunbo Ajayi (Managing Director)

Tokunbo qualified as a Barrister amp Solicitor of the Supreme Court of Nigeria in 1986 after a Bachelor of Law Degree

from University of Ife Ile-Ife in 1985 Prior to joining the UBA group in 1989 she was in private Legal Practice She is

a very experienced trustee and a member of the Nigerian Bar Association FIDA Nigerian Institute of Management

the Business Recovery amp Insolvency Practitioners Association of Nigeria and the British Council She recently got

2014 Business Excellence Award as Africa Corporate Trustees Leadership by the African International Business

Forum in United Kingdom She is an Alumnus of Phillips Consulting South Africa Senior Management Programme

She is both a Trustee and the President of the Association of Corporate Trustees

Shuaibu Kasandubu (Head Northern Region)

Shuaib holds a Bachelor of Agriculture Degree from Ahmadu Bello University Zaria and Masters Degree in Public

Administration (MPA) from University of Ilorin Prior to joining United Capital Trustees he had worked with Union

Trustees Limited where he served as the Head Northern Region Office in Abuja He is a member of the Institute of

Personnel Management

Austin Akpe (Head South East Bonds amp CIS)

Austin holds a Bachelor of Arts degree in English and Masters in International Law amp Diplomacy from the University

of Lagos and Masters in Industrial amp Labour Relations from the University of Maiduguri He has over seventeen years

banking experience Prior to joining United Capital Group he had several yearsrsquo experience in branch development

and relationship marketing in Diamond Bank and Access Bank He is an Associate Member of the Nigerian Institute

of Management

Olubusayo Adeniyi (Head South WestCorporate Bonds)

lsquoBusayo holds a Bachelor Degree in Accounting from Ambrose Alli University and a Masterrsquos Degree in Finance from

Manchester Business School He is also an Associate of both the Chartered Institute of Accountants of Nigeria (ACA)

and Chartered Institute of Taxation of Nigeria (ACIT) with over 20 years varied experience in Finance Money Capital

Market relationship and back office management He worked with Stanbic Bank Limited (now Stanbic IBTC) between

2002 and 2009 AGM Operations and Finance He worked with Metro Mega Consulting limited in 2010 before joining

Springboard Trust and Investment Limited in March 2011 as the Chief Finance Officer Busayo joined United Capital

Trustees in April 2012 as the Chief Operating Officer

Christopher Ohuonu (Head Debenture Unit)

Christopher commenced his work career in Wapic Insurance Plc as an Officer in the Corporate Services Unit He

was part of the technical team that developed the Corporate branding of Wapic Insurance from where he joined

United Capital Trustees He has worked in various departments of United Capital Trustees and currently heads the

Debenture Unit Chris is very vast in Corporate Governance and Ethics He holds an HND in Accountancy and is a

Chartered Secretary London

Adaku Ijara (Head Private Trust)

Adaku holds a law degree from the University of Nigeria an LLM in Corporate Governance from the University of

Manchester United Kingdom and was called to the Nigerian Bar in 2003 She possesses over 12 years of corporate

experience having worked at Citizens Bank Limited Fidelity Bank Plc and Standard Chartered Bank Nigeria Limited

where she held roles in Treasury Operations Treasury Marketing Consumer Banking and Private Banking with

robust experience in wealth creation Succession Planning and Generational Wealth Management

She is a member of the Nigerian Bar Association the Institute of Public Diplomacy and Management and Women in

Business Management amp Public Service She Joined United Capital Trustees in 2014

BRIEF PROFILE OF THE CUSTODIAN

Citibank is acting as a Custodian to the Fund and has been doing business in Nigeria since 1984 Citibank is a

subsidiary of Citibank Overseas Investment Corporation an American multinational financial services corporation

headquarter in New York United States of America Citibank formerly operated under the name Nigeria International



Bank Limited but was renamed to Citibank Nigeria Limited in 2008 to fully align with its parent companyrsquos global brand

and identity

Citibank offers a broad range of services including treasury amp trade solutions agency amp trust sales and trading

corporate finance and investment banking services to corporate and commercial customers financial institutions

(including other banks) and public sector organisations In August 2008 Citibank launched its Direct Custody and

Clearing (ldquoDCCrdquo) Services in Nigeria the 53rd custody market on Citigrouprsquos proprietary network at that time Citi now

offers direct custody in 60 markets The DCC business facilitates business transactions for clients and investors looking

to do business in Nigeria Citibank continues to develop innovative products and services for its customers in and

around strategic locations in the country

FUND INVESTMENT COMMITTEE

The Investment Committee will advise and guide the Fund Manager on its investment strategies and policies in order

to ensure that its activities conform with the Fundrsquos established investment objectives and in the overall interests of the

Unit-Holders In addition the Investment Committee will pay special regard to the SEC guidelines regarding restriction

on investments as prescribed from time to time The Investment Committee will also review the portfolio periodically in

order to assess liquidity positions and evaluate the risk parameters and will from time to time rebalance the portfolio

The membership of the Investment Committee is as follows

Abubakar Jimoh


Aigbovbioise Aig-Imokhuede


Abiodun Sanusi


Emeka Okolo


Ibrahim Bello

Mr Ibrahim has gained over a decadersquos experience in financial control relationship management compliance

and risk management

He commenced his career at Saro Agro Sciences Limited in 2004 as an Accountant and then progressed to

the role of Financial Controller at Stanbic IBTC Pension Managers Ltd gaining a mass of expertise in risk

and compliance stockbroking and fund management in a variety of positions

As Head of Compliance at Coronation Merchant Bank Mr Bello is responsible for establishing strong

compliance standards in accordance with industry and global best practice and acting as liaison officer

between the bank and regulatory bodies

He is a graduate of Accounting Ahmadu Bello University (2002) an associate member of ICAN (2006) and

an associate Certified Anti-Money Laundering Specialist (2014)

Dr Olubunmi Bajomo

Dr Bajomo has over two (2) decades banking experience cutting across Trade Finance Corporate Banking

Private Banking Portfolio Management and Investment Management

At Citi Bank Nigeria she accompanied the establishment of Local Corporate Bank and was directly

responsible for the day-to-day operations of the business unit Prior to joining Citi Bank Nigeria she served as

a Senior Relationship Manager at IBTC Asset Management

As Divisional Head of Corporate Banking Dr Bunmi is responsible for development and execution of business

strategies for the division as well as originating and managing institutional clients

Ms Tokunbo Ajayi


Mr Austin Akpe




Segun Ogbonnewo

Segun Ogbonnewo has garnered over 26 yearsrsquo experience in the Financial Services industry His wide

ranging experience broadly covers Micro Finance and non-structured banking Human Resources

management Banking Operations ( branch domestic and International) Commercial banking Payment

systems Process optimisation (design documentation and re-engineering) Treasury amp Capital market

operations and Risk management

Segun joined Guaranty Trust Bank in January 1993 after a stint in the public service and rose to the position

of Assistant General Manager (AGM) before joining Access Bank plc in 2006 At different times he held

leadership positions in Transaction Services Domestic and International Settlements and pioneered the

establishment of off shore subsidiaries for the bank He was the pioneer GM Operations and IT GTBank

Gambia the first subsidiary of GTBank plc

In his 10 years in Access Bank where he resigned early in 2016 as General Manager (GM) and Group Head

Channel Services he was essentially the arrowhead of the transformation of the banks Operations processes

and electronic channel platforms to an enviable level of robustness and versatility to support a large diversified

tier 1 bank He also served in 2012 as ED Operations amp IT of Intercontinental Bank as a subsidiary of Access

Bank

Segun holds a Bachelors degree and a Master of Public Administration (MPA) from the University of Ilorin

and a Master of Business Administration (MBA) degree from Lagos Business School IESE Barcelona

He attended executive management development programs in several IVY league institutions amongst which

are Harvard Business School INSEAD and IMD


STATUTORY amp GENERAL INFORMATION

AUTHORISATION

The establishment of the Fund and the issuance of the Units pursuant to the Offer for Subscription are duly and properly

authorised by a resolution passed on January 9 2017 by the Board of Directors of the Fund Manager

The Fund is also authorised and registered in Nigeria as a Unit Trust Scheme by the SEC in accordance with Section

160 of the ISA

CLAIMS amp LITIGATION

As at the date of this circular the company is not involved in any litigation The solicitor to the company is not aware of

any pending claim or litigation against Coronation Asset Management Limited which may be material to the offering

COSTS AND EXPENSES

The costs charges and expenses of and incidental to the Offer including fees payable to the SEC professional parties

brokerage printing and distribution expenses are estimated at about N34387500 (Thirty-Four Million Three Hundred

and Eighty-Seven Thousand Five Hundred Naira) representing 229 of the gross Offer proceeds and are payable by

the Fund and deductible from the proceeds of the Offer

MATERIAL CONTRACTS

The following agreements have been entered and are considered material to this Offer

1 A Trust Deed dated 15 June 2017 between Coronation Asset Management Limited and United Capital

Trustees Limited under which the Fund is constituted

2 A Vending Agreement dated 15 June 2017 between Coronation Asset Management Limited and Coronation

Merchant Bank Limited under the terms of which Coronation Merchant Bank Limited has agreed to offer

1500000000 Units of N100 each in the Fund to the general public and

3 A Custody Agreement dated 15 June 2017 between Coronation Asset Management Limited Citibank

Nigeria Limited and United Capital Trustees Limited pursuant to which the Fund Manager has appointed the

Custodians to act as custodian of the Fundrsquos investments cash and other assets and to accept responsibility

for the safe custody of the Deposited Property which is delivered to and accepted by the Custodian

4 A Service Level Agreement with the Registrar dated 15 June 2017 between Coronation Asset Management

Limited and United Securities Limited

Other than as stated above the Fund Manager has not entered into any material contracts except in the ordinary course

of business

CONSENTS

The following have given and not withdrawn their written consents to the issue of this Abridged Prospectus with their

names and reports (where applicable) included in the form and context in which they appear

DIRECTORS OF THE FUND MANAGER Mr Abubakar Jimoh

Mr Aigbiviose Aig Imoukhuede

Mrs Cornelia Utuk (Company Secretary)

Mr Emeka Okolo

Mr Abiodun Sanusi

Mr Ivie Omorogbe



CUSTODIAN TO THE FUND Citibank Nigeria Limited

SOLICITOR TO THE OFFER Akanbi amp Wigwe

REPORTING ACCOUNTANTS Ernst amp Young

REGISTRARS United Securities Limited

RATING AGENCY Agusto amp Co Limited

STOCKBROKER Coronation Securities Limited

RECEIVING BANK Access Bank Plc



RELATIONSHIP BETWEEN THE FUND MANAGER AND THE TRUSTEE

The Fund Manager and the Trustee do not have any common shareholder and neither one is a subsidiary or holding

company of the other They do not have common Directors

RELATIONSHIP BETWEEN THE FUND MANAGER AND THE CUSTODIAN

The Fund Manager and the Custodian do not have any common shareholder and neither one is a subsidiary or holding


RELATIONSHIP BETWEEN THE FUND MANAGER AND THE STOCKBROKER

The Fund Manager is affiliated to the Stockbroker Both companies are subsidiaries of the Issuing House

RELATIONSHIP BETWEEN THE FUND MANAGER AND THE ISSUING HOUSE

The Fund Manager is a subsidiary of the Issuing House

DOCUMENTS AVAILABLE FOR INSPECTION

Copies of the following documents may be inspected at the offices of the Issuing House at its business address at

normal working hours on any Business Day during the Offer Period

Certificates of Incorporation of the Fund Manager the Custodian and the Trustee

Memoranda and Articles of Association of the Fund Manager the Custodian and the Trustee

The resolution of the Board of Directors of the Fund Manager authorising the creation of the Fund and the

issuance of 15 billion Units of the Fund

The duly executed Prospectus issued and Abridged Prospectus in respect of the Offer

The Report of Ernst amp Young reporting accountants on the Financial Forecast of the Fund for the 2 years

and 3 months ending December 31 2019

Fund Risk Rating report from the Rating Agency Agusto amp Co

The material contracts referred to above

The written consents referred to above and

The SEC letter authorising the Fund and registering the Units being offered2


PROCEDURE FOR APPLICATION AND ALLOTMENT

1 Application

11 The general investing public is hereby invited to apply for Units of the Fund through any of the Receiving

Agents listed in this Abridged Prospectus

12 Applications for Units must be made in accordance with the instructions set out at the back of the Application

Form attached hereto Care must be taken to follow these instructions as applications which do not comply

will be rejected

13 The Application List for the Units now being offered will open on 10 July 2017 and close on 28 July 2017

Applications must be for a minimum of 10000 Units and in multiples of 5000 Units thereafter The number of

Units for which an application is made and the value of the cheque or bank draft attached should be entered

in the boxes provided on the Application Form

14 A single applicant should sign the declaration and write hisher full names address daytime telephone number

and mobile telephone number in the appropriate space on the Application Form Where the application is

being made on behalf of a minor the full names of the applicant and the minor as well as the date of birth of

the minor should be provided Item ldquo2rdquo should be used by joint applicants A corporate applicant should affix

its seal in the box provided and state its Incorporation Registration (RC) Number

15 Applications in Naira below N10 million should be forwarded together with a bank draft for the full amount of

the purchase price made payable to any of the Receiving Agents listed in this Abridged Prospectus or via

NEFT or NIBBS to the issue proceeds account indicated below The cheque or draft must be drawn on a bank

in the same town or city in which the Receiving Agent is located and crossed ldquoCORONATION MONEY

MARKET FUNDrdquo with the name address and daytime telephone number of the applicant written on the back

All bank commissions and transfer charges must be prepaid by the applicant All cheques and drafts will be

presented upon receipt and all applications in respect of which cheques are returned unpaid will be rejected

and returned through the post at the applicantrsquos risk

16 Applications in Naira above N10 million should be transferred via RTGS into the issue proceeds account

indicated below

Bank Name ACCESS BANK PLC

Account Name Coronation Money Market Fund

Account Number 0725401487

ApplicantSender Please complete as appropriate

17 Foreign currency subscribers are advised to contact the Receiving Bank for the applicable exchange rate on

the day the payment for the subscription is being effected Payments can be made in US Dollars to the

Receiving Bank through the correspondent bank detailed below

Intermediary Bankrsquos Name Citibank New York

Intermediary Bankrsquos SWIFT Code CITIUS33

Beneficiary Bankrsquos Name Access Bank Plc

Beneficiary Bankrsquos SWIFT Code ABNGNGLA

Beneficiary Bankrsquos Account Number 36145842

Routing Number 021000089

For Further Credit to Coronation Merchant Bank


2 Allotment

The Issuing House and the Directors of the Fund Manager reserve the right to accept or reject any application in

whole or in part for not meeting the conditions of the Offer In the event of an over subscription additional Units of

the Fund will be allotted subject to the Commissionrsquos approval

3 Application Monies

All application monies will be retained in a separate bank account by the Receiving Bank pending allotment If any

application is not accepted or is accepted for fewer Units than the number applied for a crossed cheque for the

full amount paid or the balance of the amount paid (as the case may be) will be returned by registered post within

five (5) Business Days of allotment or through a bank transfer within 48 hours of allotment

Statements of Unit-holding will be sent by registered post to the physical address provided by the subscriber on

the attached Application Form andor by electronic mail to the email address provided on the attached Application

Form not later than 15 Business Days from the date of allotment


RECEIVING AGENTS

All capital market operators with current SEC registration as at the date of this Abridged Prospectus are eligible

to act as Receiving Agents to the Issue A brokerage commission of 075 will be paid on the value of allotted Units

in respect of applications bearing their official stamps

Evidence of lodgement of funds with any Receiving Agent in the absence of corresponding evidence of receipt by the Issuing House Receiving Bank cannot give rise to a liability on the part of the Issuing HouseReceiving Bank under any circumstances

Afrinvest Securities Ltd Apt Securities And Funds Ltd Arm Securities Ltd Capital Bancorp Plc Cardinalstone Securities Ltd Cashcraft Securities Ltd Chapelhill Denham Securities Ltd Cordros Capital Ltd Coronation Securities Ltd Cowry Securities Ltd Csl Stockbrokers Ltd Dunn Loren Merrifield Securities Ltd Elixir Securities Ltd

Fbn Securities Ltd

Fsdh Securities Ltd

Futureview Securities Ltd Greenwich Securities Ltd Gti Securities Ltd

Investment One Financial Services Ltd

Investment One Funds Management Ltd

Investment One Stockbrokers Intl Ltd Lead Securities amp Investment Ltd Mainstreet Bank Securities Ltd Mbc Securities Ltd

Meristem Securities Ltd

Meristem Stockbrokers Ltd

Rencap (Securities) Nigeria Ltd

Stanbic Ibtc Stockbrokers Ltd

Trw Stockbrokers Ltd United Capital Securities Ltd Valueline Securities amp Investment Ltd Vetiva Securities Ltd Wstc Financial Services Ltd Zenith Securities Ltd


APPLICATION FORM

Applications must be made in accordance with the instructions set out in the back of this application form Care must be taken to follow these instructions as applications that do not comply may be rejected If you are in any doubt please consult your Stockbroker Accountant Banker Solicitor or any other professional adviser for guidance

For Registrars Use Only

No of Units Applied for

No of Units Allotted

Amount Paid

Value of Units Allotted

Amount to be Returned

Cheque Number

Control No

Registrars

Guide to Application Number of units applied for Amount payable Minimum 10000 units N10000 Subsequent multiple of 5000 N5000

Date (ddmmyyyy)

Number of units applied for Value of units applied foramount (Naira)

PLEASE COMPLETE IN BLOCK LETTERS

1 INDIVIDUALCORPORATE APPLICANT

Title Mr Mrs Miss Other

SurnameCompany Name

Other Names (for individual applicants only)

Full Postal Address

City State

Land Phone Number Mobile (GSM) Phone

E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names

3 INCOME DISTRIBUTION

Please tick in the box to indicate preferred option ndash CASH REINVESTMENT

4 BANK DETAILS (FOR E-DIVIDEND)

BVN

Branch Name

Account Number

Signature or thumbprint Signature or thumbprint

Company Seal amp Incorporation Number (Corporate Applicant)

Receiving Agentrsquos Stamp

ISSUING HOUSE

RC 207138 RC 1290392

OFFER FOR SUBSCRIPTION OF 1500000000 UNITS AT N1 PER UNIT

IN THE

CORONATION MONEY MARKET FUND


APPLICATION LIST OPENS

10 JULY 2017

APPLICATION LIST CLOSES

28 JULY 2017

FUND MANAGER

Declaration a I amWe are 18 years of age or over b IWe authorize you to send a unit statement by email andor cheque for any amount overpaid

via registered post to the address given below and to procure registration in myour name as the holder(s) of such number of units of such smaller number as aforesaid

c IWe attached the amount payable in full on application for the number of units indicated in the Coronation Money Market Fund at N100 per unit

d IWe agree to accept the same or any smaller number of units in respect of which allotment may be made upon the terms of the Prospectus dated 15 June 2017 and subject to the Trust Deed of the Coronation Money Market Fund

e IWe declare that Iwe have read a copy of the Prospectus for the Fund dated 15 June 2017 issued by Coronation Merchant Bank Limited on behalf of Coronation Asset Management Limited


INSTRUCTIONS FOR COMPLETING THE APPLICATION FORM

1 Applications must be made only on this Application Form or photocopy downloaded or scanned copy of the

Application Form

2 The Application List for the Units will be open to prospective investors for the duration specified in the Prospectus

3 Application must be for a minimum of 10000 Units at the first instance and multiples of 5000 Units thereafter

The number of Units for which an application is made and the applicable value should be entered in the boxes

provided

4 An application for a minor must include the full names and date of birth of the minor as well as the full names and

address of the adult (Parent or Guardian) making the application on such minorrsquos behalf

5 Joint applicants must all sign the Application Form

6 An application from a corporate body must bear the corporate bodyrsquos common seal and be completed under the

hand of a duly authorized official

7 An application by an illiterate should bear his right thumbprint on the Application Form and be witnessed by an

official of the Receiving Agent at which the application is lodged whom us to have first explained the meaning

and effect of the Application Form to the illiterate in his own language Above the thumbprint of the illiterate the

witness must record in writing that he has given this explanation to the illiterate in a language understandable to

him and that the illiterate appeared to have understood same before affixing his thumb impression

8 An applicant should not print this signature If he is unable to sign in the normal manner he should be treated

for the purpose of this Offer as an illiterate and his right thumbprint should be clearly impressed on the Application

Form


the purchase price made payable to any of the Receiving Agent listed in this Abridged Prospectus or via NEFT

or NIBBS into either of the issue proceeds account specified on Page 33 of this Abridged Prospectus The cheque

or draft must be drawn on a bank in the same town or city in which the Receiving Agent is located and crossed

ldquoCORONATION MONEY MARKET FUNDrdquo with the name address and daytime telephone number of the

applicant written on the back All bank commissions and transfer charges must be prepaid by the applicant All

cheques and drafts will be presented upon receipt and all applications in respect of which cheques are returned

unpaid will be rejected and returned through the post at the applicantrsquos risk

10 Applications in Naira above N10 million should be transferred via RTGS into either of the issue proceeds

accounts specified on Page 33 of this Abridged Prospectus

11 All foreign currency subscriptions should be credited to the correspondent bank accounts specified on Page

33 of this Abridged Prospectus The Receiving Bank will issue CCIs evidencing such foreign currency

subscriptions CCIs are required to enable subsequent repatriation in a freely convertible currency of the

dividends from or proceeds of any future sale of the Units acquired in this Offer for Subscription

12 An applicant must provide bank details in the space provided in the Application Form (Applications without

bank details will be treated as invalid and thus rejected)

APPLICATION FORM



ABRIDGED TIMETABLE

The dates given above are indicative only The timetable has been prepared on the assumption that certain

key activities including but not limited to the receipt of regulatory approvals from the SEC for the Offer will

be achieved as stated if not then dates surrounding key events in the timetable may be subject to adjustments

without prior notice

Date Activity Responsibility

10-07-2017 Application List opens Issuing House

28-07-2017 Application List closes Issuing House

02-08-2017 Receiving Agents make returns Registrar

09-08-2017 Forward Basis of Allotment Proposal to SEC Issuing House

18-08-2017 Obtain SECrsquos clearance of the Basis of Allotment Proposal Issuing House

25-08-2017 Disburse Net Proceeds to Custodian Receiving Bank

28-08-2017 Return ExcessRejected Application Monies Registrar

29-08-2017 Publish Allotment Announcement in two national daily newspapers

Fund ManagerIssuing House

29-08-2017 Distribution of Statements of Unit-holdings Registrar

05-09-2017 List on the Nigerian Stock Exchange Stockbroker

08-09-2017 Forward Offer Summary Report to the SEC Fund ManagerIssuing House
































A- (NG)(f)






USE OF PROCEEDS












account





subscription















Fund by Memorandum







hereto













rating agency



management services






2018


2019





Total Revenue 50760 385181 719840






3 months ending 31

Dec 2017


2018


2019






1493333 3297770 6598511












CHAIRMAN



VICTORIA ISLAND

LAGOS NIGERIA



VICTORIA ISLAND

LAGOS NIGERIA



VICTORIA ISLAND

LAGOS NIGERIA



VICTORIA ISLAND

LAGOS NIGERIA



VICTORIA ISLAND

LAGOS NIGERIA



VICTORIA ISLAND

LAGOS NIGERIA



VICTORIA ISLAND

LAGOS NIGERIA

Telephone +234-01-904 9986











MR EMEKA OKOLO CFA

MR IBRAHIM BELLO

DR OLUBUNMI BAJOMO









VICTORIA ISLAND

LAGOS NIGERIA



57 MARINA

LAGOS STATE



VICTORIA ISLAND

LAGOS NIGERIA



LEKKI PHASE 1

LAGOS


UBA HOUSE


LAGOS NIGERIA



VICTORIA ISLAND

LAGOS STATE


UBA HOUSE 5TH FLOOR

57 MARINA

LAGOS ISLAND



VICTORIA ISLAND

LAGOS STATE







A BRIEF ON THE FUND




Fund









































ASSET ALLOCATION






Target Weighting ()








0 ndash 30 15





Regulations

INVESTMENT STRATEGY





SEC Rules









TARGET INVESTORS









Require liquidity























hereto










application form




undertake


















TAX CONSIDERATIONS












REDEMPTION OF UNITS







investment









QUOTATION












Accident Policy


Conditions




















Unit-Holder







Exclusions

















Definitions







































10





50




6 Loss of big toe 5













RISK FACTORS







Income Risk





Credit Risk





obligations










Reinvestment Risk








Inflation Risk










committee






ongoing basis














1 Introduction




2 Forecast







A Basis




B Assumptions


the money market




















Standards (IFRSs)




















respectively




4 Dividend Expense



5 Taxation


of tax





commitments






8 Time deposit





Recognition










Initial measurement


acquisition









Derecognition


derecognised when




and

either




















defaults



















9 Equity


10 Liabilities



unit holders












































2018


2019





Total Revenue 50760 385181 719840








Assets



Bank Placements 585127 1196215 2415571




292564 598108

1207785

Total Assets 1490538 3066647 6178124

Liabilities


Net Asset 1490538 3066647 6178124

Equity



1490538 3066647 6178124




3 months ending 31

Dec 2017


2018


2019



Income 50760 385181 719840

Management Fees (5486) (44858) (90584)















3 months ending 31

Dec 2017


2018


2019






1493333 3297770 6598511






1 Reporting Entity





















6 Interest Payable












31ST DECEMBER 2016


Nrsquo000 Nrsquo000

Assets


Financial Assets



Other Assets 1682 -






Liabilities


Tax payable - -


Equity


Share Premium - -








Nrsquo000 Nrsquo000



Other income 220 -

80340 -



Taxation 9432 -





12955 -
























Mutual Funds

















pension funds



















1999 to 2007






















Countries

























Management






Broking Operations
















































of Management






























and identity















Abubakar Jimoh




Abiodun Sanusi


Emeka Okolo


Ibrahim Bello


and risk management









Dr Olubunmi Bajomo








Ms Tokunbo Ajayi


Mr Austin Akpe




Segun Ogbonnewo















Bank







AUTHORISATION




160 of the ISA




COSTS AND EXPENSES





MATERIAL CONTRACTS














of business

CONSENTS






Mr Emeka Okolo

Mr Abiodun Sanusi

Mr Ivie Omorogbe






































1 Application





will be rejected



















indicated below
















2 Allotment













RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form

















APPLICATION FORM

































A- (NG)(f)






USE OF PROCEEDS












account





subscription















Fund by Memorandum







hereto













rating agency



management services






2018


2019





Total Revenue 50760 385181 719840






3 months ending 31

Dec 2017


2018


2019






1493333 3297770 6598511












CHAIRMAN



VICTORIA ISLAND

LAGOS NIGERIA



VICTORIA ISLAND

LAGOS NIGERIA



VICTORIA ISLAND

LAGOS NIGERIA



VICTORIA ISLAND

LAGOS NIGERIA



VICTORIA ISLAND

LAGOS NIGERIA



VICTORIA ISLAND

LAGOS NIGERIA



VICTORIA ISLAND

LAGOS NIGERIA

Telephone +234-01-904 9986











MR EMEKA OKOLO CFA

MR IBRAHIM BELLO

DR OLUBUNMI BAJOMO









VICTORIA ISLAND

LAGOS NIGERIA



57 MARINA

LAGOS STATE



VICTORIA ISLAND

LAGOS NIGERIA



LEKKI PHASE 1

LAGOS


UBA HOUSE


LAGOS NIGERIA



VICTORIA ISLAND

LAGOS STATE


UBA HOUSE 5TH FLOOR

57 MARINA

LAGOS ISLAND



VICTORIA ISLAND

LAGOS STATE







A BRIEF ON THE FUND




Fund









































ASSET ALLOCATION






Target Weighting ()








0 ndash 30 15





Regulations

INVESTMENT STRATEGY





SEC Rules









TARGET INVESTORS









Require liquidity























hereto










application form




undertake


















TAX CONSIDERATIONS












REDEMPTION OF UNITS







investment









QUOTATION












Accident Policy


Conditions




















Unit-Holder







Exclusions

















Definitions







































10





50




6 Loss of big toe 5













RISK FACTORS







Income Risk





Credit Risk





obligations










Reinvestment Risk








Inflation Risk










committee






ongoing basis














1 Introduction




2 Forecast







A Basis




B Assumptions


the money market




















Standards (IFRSs)




















respectively




4 Dividend Expense



5 Taxation


of tax





commitments






8 Time deposit





Recognition










Initial measurement


acquisition









Derecognition


derecognised when




and

either




















defaults



















9 Equity


10 Liabilities



unit holders












































2018


2019





Total Revenue 50760 385181 719840








Assets



Bank Placements 585127 1196215 2415571




292564 598108

1207785

Total Assets 1490538 3066647 6178124

Liabilities


Net Asset 1490538 3066647 6178124

Equity



1490538 3066647 6178124




3 months ending 31

Dec 2017


2018


2019



Income 50760 385181 719840

Management Fees (5486) (44858) (90584)















3 months ending 31

Dec 2017


2018


2019






1493333 3297770 6598511






1 Reporting Entity





















6 Interest Payable












31ST DECEMBER 2016


Nrsquo000 Nrsquo000

Assets


Financial Assets



Other Assets 1682 -






Liabilities


Tax payable - -


Equity


Share Premium - -








Nrsquo000 Nrsquo000



Other income 220 -

80340 -



Taxation 9432 -





12955 -
























Mutual Funds

















pension funds



















1999 to 2007






















Countries

























Management






Broking Operations
















































of Management






























and identity















Abubakar Jimoh




Abiodun Sanusi


Emeka Okolo


Ibrahim Bello


and risk management









Dr Olubunmi Bajomo








Ms Tokunbo Ajayi


Mr Austin Akpe




Segun Ogbonnewo















Bank







AUTHORISATION




160 of the ISA




COSTS AND EXPENSES





MATERIAL CONTRACTS














of business

CONSENTS






Mr Emeka Okolo

Mr Abiodun Sanusi

Mr Ivie Omorogbe






































1 Application





will be rejected



















indicated below
















2 Allotment













RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form



or NIBBS into either of the issue proceeds account specified on 3 of this Abridged Prospectus The cheque














APPLICATION FORM










account





subscription















Fund by Memorandum







hereto













rating agency



management services






2018


2019





Total Revenue 50760 385181 719840






3 months ending 31

Dec 2017


2018


2019






1493333 3297770 6598511












CHAIRMAN



VICTORIA ISLAND

LAGOS NIGERIA



VICTORIA ISLAND

LAGOS NIGERIA



VICTORIA ISLAND

LAGOS NIGERIA



VICTORIA ISLAND

LAGOS NIGERIA



VICTORIA ISLAND

LAGOS NIGERIA



VICTORIA ISLAND

LAGOS NIGERIA



VICTORIA ISLAND

LAGOS NIGERIA

Telephone +234-01-904 9986











MR EMEKA OKOLO CFA

MR IBRAHIM BELLO

DR OLUBUNMI BAJOMO









VICTORIA ISLAND

LAGOS NIGERIA



57 MARINA

LAGOS STATE



VICTORIA ISLAND

LAGOS NIGERIA



LEKKI PHASE 1

LAGOS


UBA HOUSE


LAGOS NIGERIA



VICTORIA ISLAND

LAGOS STATE


UBA HOUSE 5TH FLOOR

57 MARINA

LAGOS ISLAND



VICTORIA ISLAND

LAGOS STATE







A BRIEF ON THE FUND




Fund









































ASSET ALLOCATION






Target Weighting ()








0 ndash 30 15





Regulations

INVESTMENT STRATEGY





SEC Rules









TARGET INVESTORS









Require liquidity























hereto










application form




undertake


















TAX CONSIDERATIONS












REDEMPTION OF UNITS







investment









QUOTATION












Accident Policy


Conditions




















Unit-Holder







Exclusions

















Definitions







































10





50




6 Loss of big toe 5













RISK FACTORS







Income Risk





Credit Risk





obligations










Reinvestment Risk








Inflation Risk










committee






ongoing basis














1 Introduction




2 Forecast







A Basis




B Assumptions


the money market




















Standards (IFRSs)




















respectively




4 Dividend Expense



5 Taxation


of tax





commitments






8 Time deposit





Recognition










Initial measurement


acquisition









Derecognition


derecognised when




and

either




















defaults



















9 Equity


10 Liabilities



unit holders












































2018


2019





Total Revenue 50760 385181 719840








Assets



Bank Placements 585127 1196215 2415571




292564 598108

1207785

Total Assets 1490538 3066647 6178124

Liabilities


Net Asset 1490538 3066647 6178124

Equity



1490538 3066647 6178124




3 months ending 31

Dec 2017


2018


2019



Income 50760 385181 719840

Management Fees (5486) (44858) (90584)















3 months ending 31

Dec 2017


2018


2019






1493333 3297770 6598511






1 Reporting Entity





















6 Interest Payable












31ST DECEMBER 2016


Nrsquo000 Nrsquo000

Assets


Financial Assets



Other Assets 1682 -






Liabilities


Tax payable - -


Equity


Share Premium - -








Nrsquo000 Nrsquo000



Other income 220 -

80340 -



Taxation 9432 -





12955 -
























Mutual Funds

















pension funds



















1999 to 2007






















Countries

























Management






Broking Operations
















































of Management






























and identity















Abubakar Jimoh




Abiodun Sanusi


Emeka Okolo


Ibrahim Bello


and risk management









Dr Olubunmi Bajomo








Ms Tokunbo Ajayi


Mr Austin Akpe




Segun Ogbonnewo















Bank







AUTHORISATION




160 of the ISA




COSTS AND EXPENSES





MATERIAL CONTRACTS














of business

CONSENTS






Mr Emeka Okolo

Mr Abiodun Sanusi

Mr Ivie Omorogbe






































1 Application





will be rejected



















indicated below
















2 Allotment













RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form

















APPLICATION FORM







2018


2019





Total Revenue 50760 385181 719840






3 months ending 31

Dec 2017


2018


2019






1493333 3297770 6598511












CHAIRMAN



VICTORIA ISLAND

LAGOS NIGERIA



VICTORIA ISLAND

LAGOS NIGERIA



VICTORIA ISLAND

LAGOS NIGERIA



VICTORIA ISLAND

LAGOS NIGERIA



VICTORIA ISLAND

LAGOS NIGERIA



VICTORIA ISLAND

LAGOS NIGERIA



VICTORIA ISLAND

LAGOS NIGERIA

Telephone +234-01-904 9986











MR EMEKA OKOLO CFA

MR IBRAHIM BELLO

DR OLUBUNMI BAJOMO









VICTORIA ISLAND

LAGOS NIGERIA



57 MARINA

LAGOS STATE



VICTORIA ISLAND

LAGOS NIGERIA



LEKKI PHASE 1

LAGOS


UBA HOUSE


LAGOS NIGERIA



VICTORIA ISLAND

LAGOS STATE


UBA HOUSE 5TH FLOOR

57 MARINA

LAGOS ISLAND



VICTORIA ISLAND

LAGOS STATE







A BRIEF ON THE FUND




Fund









































ASSET ALLOCATION






Target Weighting ()








0 ndash 30 15





Regulations

INVESTMENT STRATEGY





SEC Rules









TARGET INVESTORS









Require liquidity























hereto










application form




undertake


















TAX CONSIDERATIONS












REDEMPTION OF UNITS







investment









QUOTATION












Accident Policy


Conditions




















Unit-Holder







Exclusions

















Definitions







































10





50




6 Loss of big toe 5













RISK FACTORS







Income Risk





Credit Risk





obligations










Reinvestment Risk








Inflation Risk










committee






ongoing basis














1 Introduction




2 Forecast







A Basis




B Assumptions


the money market




















Standards (IFRSs)




















respectively




4 Dividend Expense



5 Taxation


of tax





commitments






8 Time deposit





Recognition










Initial measurement


acquisition









Derecognition


derecognised when




and

either




















defaults



















9 Equity


10 Liabilities



unit holders












































2018


2019





Total Revenue 50760 385181 719840








Assets



Bank Placements 585127 1196215 2415571




292564 598108

1207785

Total Assets 1490538 3066647 6178124

Liabilities


Net Asset 1490538 3066647 6178124

Equity



1490538 3066647 6178124




3 months ending 31

Dec 2017


2018


2019



Income 50760 385181 719840

Management Fees (5486) (44858) (90584)















3 months ending 31

Dec 2017


2018


2019






1493333 3297770 6598511






1 Reporting Entity





















6 Interest Payable












31ST DECEMBER 2016


Nrsquo000 Nrsquo000

Assets


Financial Assets



Other Assets 1682 -






Liabilities


Tax payable - -


Equity


Share Premium - -








Nrsquo000 Nrsquo000



Other income 220 -

80340 -



Taxation 9432 -





12955 -
























Mutual Funds

















pension funds



















1999 to 2007






















Countries

























Management






Broking Operations
















































of Management






























and identity















Abubakar Jimoh




Abiodun Sanusi


Emeka Okolo


Ibrahim Bello


and risk management









Dr Olubunmi Bajomo








Ms Tokunbo Ajayi


Mr Austin Akpe




Segun Ogbonnewo















Bank







AUTHORISATION




160 of the ISA




COSTS AND EXPENSES





MATERIAL CONTRACTS














of business

CONSENTS






Mr Emeka Okolo

Mr Abiodun Sanusi

Mr Ivie Omorogbe






































1 Application





will be rejected



















indicated below
















2 Allotment













RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form

















APPLICATION FORM




CHAIRMAN



VICTORIA ISLAND

LAGOS NIGERIA



VICTORIA ISLAND

LAGOS NIGERIA



VICTORIA ISLAND

LAGOS NIGERIA



VICTORIA ISLAND

LAGOS NIGERIA



VICTORIA ISLAND

LAGOS NIGERIA



VICTORIA ISLAND

LAGOS NIGERIA



VICTORIA ISLAND

LAGOS NIGERIA

Telephone +234-01-904 9986











MR EMEKA OKOLO CFA

MR IBRAHIM BELLO

DR OLUBUNMI BAJOMO









VICTORIA ISLAND

LAGOS NIGERIA



57 MARINA

LAGOS STATE



VICTORIA ISLAND

LAGOS NIGERIA



LEKKI PHASE 1

LAGOS


UBA HOUSE


LAGOS NIGERIA



VICTORIA ISLAND

LAGOS STATE


UBA HOUSE 5TH FLOOR

57 MARINA

LAGOS ISLAND



VICTORIA ISLAND

LAGOS STATE







A BRIEF ON THE FUND




Fund









































ASSET ALLOCATION






Target Weighting ()








0 ndash 30 15





Regulations

INVESTMENT STRATEGY





SEC Rules









TARGET INVESTORS









Require liquidity























hereto










application form




undertake


















TAX CONSIDERATIONS












REDEMPTION OF UNITS







investment









QUOTATION












Accident Policy


Conditions




















Unit-Holder







Exclusions

















Definitions







































10





50




6 Loss of big toe 5













RISK FACTORS







Income Risk





Credit Risk





obligations










Reinvestment Risk








Inflation Risk










committee






ongoing basis














1 Introduction




2 Forecast







A Basis




B Assumptions


the money market




















Standards (IFRSs)




















respectively




4 Dividend Expense



5 Taxation


of tax





commitments






8 Time deposit





Recognition










Initial measurement


acquisition









Derecognition


derecognised when




and

either




















defaults



















9 Equity


10 Liabilities



unit holders












































2018


2019





Total Revenue 50760 385181 719840








Assets



Bank Placements 585127 1196215 2415571




292564 598108

1207785

Total Assets 1490538 3066647 6178124

Liabilities


Net Asset 1490538 3066647 6178124

Equity



1490538 3066647 6178124




3 months ending 31

Dec 2017


2018


2019



Income 50760 385181 719840

Management Fees (5486) (44858) (90584)















3 months ending 31

Dec 2017


2018


2019






1493333 3297770 6598511






1 Reporting Entity





















6 Interest Payable












31ST DECEMBER 2016


Nrsquo000 Nrsquo000

Assets


Financial Assets



Other Assets 1682 -






Liabilities


Tax payable - -


Equity


Share Premium - -








Nrsquo000 Nrsquo000



Other income 220 -

80340 -



Taxation 9432 -





12955 -
























Mutual Funds

















pension funds



















1999 to 2007






















Countries

























Management






Broking Operations
















































of Management






























and identity















Abubakar Jimoh




Abiodun Sanusi


Emeka Okolo


Ibrahim Bello


and risk management









Dr Olubunmi Bajomo








Ms Tokunbo Ajayi


Mr Austin Akpe




Segun Ogbonnewo















Bank







AUTHORISATION




160 of the ISA




COSTS AND EXPENSES





MATERIAL CONTRACTS














of business

CONSENTS






Mr Emeka Okolo

Mr Abiodun Sanusi

Mr Ivie Omorogbe






































1 Application





will be rejected



















indicated below
















2 Allotment













RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form

















APPLICATION FORM






VICTORIA ISLAND

LAGOS NIGERIA



57 MARINA

LAGOS STATE



VICTORIA ISLAND

LAGOS NIGERIA



LEKKI PHASE 1

LAGOS


UBA HOUSE


LAGOS NIGERIA



VICTORIA ISLAND

LAGOS STATE


UBA HOUSE 5TH FLOOR

57 MARINA

LAGOS ISLAND



VICTORIA ISLAND

LAGOS STATE







A BRIEF ON THE FUND




Fund









































ASSET ALLOCATION






Target Weighting ()








0 ndash 30 15





Regulations

INVESTMENT STRATEGY





SEC Rules









TARGET INVESTORS









Require liquidity























hereto










application form




undertake


















TAX CONSIDERATIONS












REDEMPTION OF UNITS







investment









QUOTATION












Accident Policy


Conditions




















Unit-Holder







Exclusions

















Definitions







































10





50




6 Loss of big toe 5













RISK FACTORS







Income Risk





Credit Risk





obligations










Reinvestment Risk








Inflation Risk










committee






ongoing basis














1 Introduction




2 Forecast







A Basis




B Assumptions


the money market




















Standards (IFRSs)




















respectively




4 Dividend Expense



5 Taxation


of tax





commitments






8 Time deposit





Recognition










Initial measurement


acquisition









Derecognition


derecognised when




and

either




















defaults



















9 Equity


10 Liabilities



unit holders












































2018


2019





Total Revenue 50760 385181 719840








Assets



Bank Placements 585127 1196215 2415571




292564 598108

1207785

Total Assets 1490538 3066647 6178124

Liabilities


Net Asset 1490538 3066647 6178124

Equity



1490538 3066647 6178124




3 months ending 31

Dec 2017


2018


2019



Income 50760 385181 719840

Management Fees (5486) (44858) (90584)















3 months ending 31

Dec 2017


2018


2019






1493333 3297770 6598511






1 Reporting Entity





















6 Interest Payable












31ST DECEMBER 2016


Nrsquo000 Nrsquo000

Assets


Financial Assets



Other Assets 1682 -






Liabilities


Tax payable - -


Equity


Share Premium - -








Nrsquo000 Nrsquo000



Other income 220 -

80340 -



Taxation 9432 -





12955 -
























Mutual Funds

















pension funds



















1999 to 2007






















Countries

























Management






Broking Operations
















































of Management






























and identity















Abubakar Jimoh




Abiodun Sanusi


Emeka Okolo


Ibrahim Bello


and risk management









Dr Olubunmi Bajomo








Ms Tokunbo Ajayi


Mr Austin Akpe




Segun Ogbonnewo















Bank







AUTHORISATION




160 of the ISA




COSTS AND EXPENSES





MATERIAL CONTRACTS














of business

CONSENTS






Mr Emeka Okolo

Mr Abiodun Sanusi

Mr Ivie Omorogbe






































1 Application





will be rejected



















indicated below
















2 Allotment













RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form

















APPLICATION FORM




A BRIEF ON THE FUND




Fund









































ASSET ALLOCATION






Target Weighting ()








0 ndash 30 15





Regulations

INVESTMENT STRATEGY





SEC Rules









TARGET INVESTORS









Require liquidity























hereto










application form




undertake


















TAX CONSIDERATIONS












REDEMPTION OF UNITS







investment









QUOTATION












Accident Policy


Conditions




















Unit-Holder







Exclusions

















Definitions







































10





50




6 Loss of big toe 5













RISK FACTORS







Income Risk





Credit Risk





obligations










Reinvestment Risk








Inflation Risk










committee






ongoing basis














1 Introduction




2 Forecast







A Basis




B Assumptions


the money market




















Standards (IFRSs)




















respectively




4 Dividend Expense



5 Taxation


of tax





commitments






8 Time deposit





Recognition










Initial measurement


acquisition









Derecognition


derecognised when




and

either




















defaults



















9 Equity


10 Liabilities



unit holders












































2018


2019





Total Revenue 50760 385181 719840








Assets



Bank Placements 585127 1196215 2415571




292564 598108

1207785

Total Assets 1490538 3066647 6178124

Liabilities


Net Asset 1490538 3066647 6178124

Equity



1490538 3066647 6178124




3 months ending 31

Dec 2017


2018


2019



Income 50760 385181 719840

Management Fees (5486) (44858) (90584)















3 months ending 31

Dec 2017


2018


2019






1493333 3297770 6598511






1 Reporting Entity





















6 Interest Payable












31ST DECEMBER 2016


Nrsquo000 Nrsquo000

Assets


Financial Assets



Other Assets 1682 -






Liabilities


Tax payable - -


Equity


Share Premium - -








Nrsquo000 Nrsquo000



Other income 220 -

80340 -



Taxation 9432 -





12955 -
























Mutual Funds

















pension funds



















1999 to 2007






















Countries

























Management






Broking Operations
















































of Management






























and identity















Abubakar Jimoh




Abiodun Sanusi


Emeka Okolo


Ibrahim Bello


and risk management









Dr Olubunmi Bajomo








Ms Tokunbo Ajayi


Mr Austin Akpe




Segun Ogbonnewo















Bank







AUTHORISATION




160 of the ISA




COSTS AND EXPENSES





MATERIAL CONTRACTS














of business

CONSENTS






Mr Emeka Okolo

Mr Abiodun Sanusi

Mr Ivie Omorogbe






































1 Application





will be rejected



















indicated below
















2 Allotment













RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form

















APPLICATION FORM








0 ndash 30 15





Regulations

INVESTMENT STRATEGY





SEC Rules









TARGET INVESTORS









Require liquidity























hereto










application form




undertake


















TAX CONSIDERATIONS












REDEMPTION OF UNITS







investment









QUOTATION












Accident Policy


Conditions




















Unit-Holder







Exclusions

















Definitions







































10





50




6 Loss of big toe 5













RISK FACTORS







Income Risk





Credit Risk





obligations










Reinvestment Risk








Inflation Risk










committee






ongoing basis














1 Introduction




2 Forecast







A Basis




B Assumptions


the money market




















Standards (IFRSs)




















respectively




4 Dividend Expense



5 Taxation


of tax





commitments






8 Time deposit





Recognition










Initial measurement


acquisition









Derecognition


derecognised when




and

either




















defaults



















9 Equity


10 Liabilities



unit holders












































2018


2019





Total Revenue 50760 385181 719840








Assets



Bank Placements 585127 1196215 2415571




292564 598108

1207785

Total Assets 1490538 3066647 6178124

Liabilities


Net Asset 1490538 3066647 6178124

Equity



1490538 3066647 6178124




3 months ending 31

Dec 2017


2018


2019



Income 50760 385181 719840

Management Fees (5486) (44858) (90584)















3 months ending 31

Dec 2017


2018


2019






1493333 3297770 6598511






1 Reporting Entity





















6 Interest Payable












31ST DECEMBER 2016


Nrsquo000 Nrsquo000

Assets


Financial Assets



Other Assets 1682 -






Liabilities


Tax payable - -


Equity


Share Premium - -








Nrsquo000 Nrsquo000



Other income 220 -

80340 -



Taxation 9432 -





12955 -
























Mutual Funds

















pension funds



















1999 to 2007






















Countries

























Management






Broking Operations
















































of Management






























and identity















Abubakar Jimoh




Abiodun Sanusi


Emeka Okolo


Ibrahim Bello


and risk management









Dr Olubunmi Bajomo








Ms Tokunbo Ajayi


Mr Austin Akpe




Segun Ogbonnewo















Bank







AUTHORISATION




160 of the ISA




COSTS AND EXPENSES





MATERIAL CONTRACTS














of business

CONSENTS






Mr Emeka Okolo

Mr Abiodun Sanusi

Mr Ivie Omorogbe






































1 Application





will be rejected



















indicated below
















2 Allotment













RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form

















APPLICATION FORM








hereto










application form




undertake


















TAX CONSIDERATIONS












REDEMPTION OF UNITS







investment









QUOTATION












Accident Policy


Conditions




















Unit-Holder







Exclusions

















Definitions







































10





50




6 Loss of big toe 5













RISK FACTORS







Income Risk





Credit Risk





obligations










Reinvestment Risk








Inflation Risk










committee






ongoing basis














1 Introduction




2 Forecast







A Basis




B Assumptions


the money market




















Standards (IFRSs)




















respectively




4 Dividend Expense



5 Taxation


of tax





commitments






8 Time deposit





Recognition










Initial measurement


acquisition









Derecognition


derecognised when




and

either




















defaults



















9 Equity


10 Liabilities



unit holders












































2018


2019





Total Revenue 50760 385181 719840








Assets



Bank Placements 585127 1196215 2415571




292564 598108

1207785

Total Assets 1490538 3066647 6178124

Liabilities


Net Asset 1490538 3066647 6178124

Equity



1490538 3066647 6178124




3 months ending 31

Dec 2017


2018


2019



Income 50760 385181 719840

Management Fees (5486) (44858) (90584)















3 months ending 31

Dec 2017


2018


2019






1493333 3297770 6598511






1 Reporting Entity





















6 Interest Payable












31ST DECEMBER 2016


Nrsquo000 Nrsquo000

Assets


Financial Assets



Other Assets 1682 -






Liabilities


Tax payable - -


Equity


Share Premium - -








Nrsquo000 Nrsquo000



Other income 220 -

80340 -



Taxation 9432 -





12955 -
























Mutual Funds

















pension funds



















1999 to 2007






















Countries

























Management






Broking Operations
















































of Management






























and identity















Abubakar Jimoh




Abiodun Sanusi


Emeka Okolo


Ibrahim Bello


and risk management









Dr Olubunmi Bajomo








Ms Tokunbo Ajayi


Mr Austin Akpe




Segun Ogbonnewo















Bank







AUTHORISATION




160 of the ISA




COSTS AND EXPENSES





MATERIAL CONTRACTS














of business

CONSENTS






Mr Emeka Okolo

Mr Abiodun Sanusi

Mr Ivie Omorogbe






































1 Application





will be rejected



















indicated below
















2 Allotment













RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form

















APPLICATION FORM




REDEMPTION OF UNITS







investment









QUOTATION












Accident Policy


Conditions




















Unit-Holder







Exclusions

















Definitions







































10





50




6 Loss of big toe 5













RISK FACTORS







Income Risk





Credit Risk





obligations










Reinvestment Risk








Inflation Risk










committee






ongoing basis














1 Introduction




2 Forecast







A Basis




B Assumptions


the money market




















Standards (IFRSs)




















respectively




4 Dividend Expense



5 Taxation


of tax





commitments






8 Time deposit





Recognition










Initial measurement


acquisition









Derecognition


derecognised when




and

either




















defaults



















9 Equity


10 Liabilities



unit holders












































2018


2019





Total Revenue 50760 385181 719840








Assets



Bank Placements 585127 1196215 2415571




292564 598108

1207785

Total Assets 1490538 3066647 6178124

Liabilities


Net Asset 1490538 3066647 6178124

Equity



1490538 3066647 6178124




3 months ending 31

Dec 2017


2018


2019



Income 50760 385181 719840

Management Fees (5486) (44858) (90584)















3 months ending 31

Dec 2017


2018


2019






1493333 3297770 6598511






1 Reporting Entity





















6 Interest Payable












31ST DECEMBER 2016


Nrsquo000 Nrsquo000

Assets


Financial Assets



Other Assets 1682 -






Liabilities


Tax payable - -


Equity


Share Premium - -








Nrsquo000 Nrsquo000



Other income 220 -

80340 -



Taxation 9432 -





12955 -
























Mutual Funds

















pension funds



















1999 to 2007






















Countries

























Management






Broking Operations
















































of Management






























and identity















Abubakar Jimoh




Abiodun Sanusi


Emeka Okolo


Ibrahim Bello


and risk management









Dr Olubunmi Bajomo








Ms Tokunbo Ajayi


Mr Austin Akpe




Segun Ogbonnewo















Bank







AUTHORISATION




160 of the ISA




COSTS AND EXPENSES





MATERIAL CONTRACTS














of business

CONSENTS






Mr Emeka Okolo

Mr Abiodun Sanusi

Mr Ivie Omorogbe






































1 Application





will be rejected



















indicated below
















2 Allotment













RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form

















APPLICATION FORM





Unit-Holder







Exclusions

















Definitions







































10





50




6 Loss of big toe 5













RISK FACTORS







Income Risk





Credit Risk





obligations










Reinvestment Risk








Inflation Risk










committee






ongoing basis














1 Introduction




2 Forecast







A Basis




B Assumptions


the money market




















Standards (IFRSs)




















respectively




4 Dividend Expense



5 Taxation


of tax





commitments






8 Time deposit





Recognition










Initial measurement


acquisition









Derecognition


derecognised when




and

either




















defaults



















9 Equity


10 Liabilities



unit holders












































2018


2019





Total Revenue 50760 385181 719840








Assets



Bank Placements 585127 1196215 2415571




292564 598108

1207785

Total Assets 1490538 3066647 6178124

Liabilities


Net Asset 1490538 3066647 6178124

Equity



1490538 3066647 6178124




3 months ending 31

Dec 2017


2018


2019



Income 50760 385181 719840

Management Fees (5486) (44858) (90584)















3 months ending 31

Dec 2017


2018


2019






1493333 3297770 6598511






1 Reporting Entity





















6 Interest Payable












31ST DECEMBER 2016


Nrsquo000 Nrsquo000

Assets


Financial Assets



Other Assets 1682 -






Liabilities


Tax payable - -


Equity


Share Premium - -








Nrsquo000 Nrsquo000



Other income 220 -

80340 -



Taxation 9432 -





12955 -
























Mutual Funds

















pension funds



















1999 to 2007






















Countries

























Management






Broking Operations
















































of Management






























and identity















Abubakar Jimoh




Abiodun Sanusi


Emeka Okolo


Ibrahim Bello


and risk management









Dr Olubunmi Bajomo








Ms Tokunbo Ajayi


Mr Austin Akpe




Segun Ogbonnewo















Bank







AUTHORISATION




160 of the ISA




COSTS AND EXPENSES





MATERIAL CONTRACTS














of business

CONSENTS






Mr Emeka Okolo

Mr Abiodun Sanusi

Mr Ivie Omorogbe






































1 Application





will be rejected



















indicated below
















2 Allotment













RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form

















APPLICATION FORM














10





50




6 Loss of big toe 5













RISK FACTORS







Income Risk





Credit Risk





obligations










Reinvestment Risk








Inflation Risk










committee






ongoing basis














1 Introduction




2 Forecast







A Basis




B Assumptions


the money market




















Standards (IFRSs)




















respectively




4 Dividend Expense



5 Taxation


of tax





commitments






8 Time deposit





Recognition










Initial measurement


acquisition









Derecognition


derecognised when




and

either




















defaults



















9 Equity


10 Liabilities



unit holders












































2018


2019





Total Revenue 50760 385181 719840








Assets



Bank Placements 585127 1196215 2415571




292564 598108

1207785

Total Assets 1490538 3066647 6178124

Liabilities


Net Asset 1490538 3066647 6178124

Equity



1490538 3066647 6178124




3 months ending 31

Dec 2017


2018


2019



Income 50760 385181 719840

Management Fees (5486) (44858) (90584)















3 months ending 31

Dec 2017


2018


2019






1493333 3297770 6598511






1 Reporting Entity





















6 Interest Payable












31ST DECEMBER 2016


Nrsquo000 Nrsquo000

Assets


Financial Assets



Other Assets 1682 -






Liabilities


Tax payable - -


Equity


Share Premium - -








Nrsquo000 Nrsquo000



Other income 220 -

80340 -



Taxation 9432 -





12955 -
























Mutual Funds

















pension funds



















1999 to 2007






















Countries

























Management






Broking Operations
















































of Management






























and identity















Abubakar Jimoh




Abiodun Sanusi


Emeka Okolo


Ibrahim Bello


and risk management









Dr Olubunmi Bajomo








Ms Tokunbo Ajayi


Mr Austin Akpe




Segun Ogbonnewo















Bank







AUTHORISATION




160 of the ISA




COSTS AND EXPENSES





MATERIAL CONTRACTS














of business

CONSENTS






Mr Emeka Okolo

Mr Abiodun Sanusi

Mr Ivie Omorogbe






































1 Application





will be rejected



















indicated below
















2 Allotment













RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form

















APPLICATION FORM











Reinvestment Risk








Inflation Risk










committee






ongoing basis














1 Introduction




2 Forecast







A Basis




B Assumptions


the money market




















Standards (IFRSs)




















respectively




4 Dividend Expense



5 Taxation


of tax





commitments






8 Time deposit





Recognition










Initial measurement


acquisition









Derecognition


derecognised when




and

either




















defaults



















9 Equity


10 Liabilities



unit holders












































2018


2019





Total Revenue 50760 385181 719840








Assets



Bank Placements 585127 1196215 2415571




292564 598108

1207785

Total Assets 1490538 3066647 6178124

Liabilities


Net Asset 1490538 3066647 6178124

Equity



1490538 3066647 6178124




3 months ending 31

Dec 2017


2018


2019



Income 50760 385181 719840

Management Fees (5486) (44858) (90584)















3 months ending 31

Dec 2017


2018


2019






1493333 3297770 6598511






1 Reporting Entity





















6 Interest Payable












31ST DECEMBER 2016


Nrsquo000 Nrsquo000

Assets


Financial Assets



Other Assets 1682 -






Liabilities


Tax payable - -


Equity


Share Premium - -








Nrsquo000 Nrsquo000



Other income 220 -

80340 -



Taxation 9432 -





12955 -
























Mutual Funds

















pension funds



















1999 to 2007






















Countries

























Management






Broking Operations
















































of Management






























and identity















Abubakar Jimoh




Abiodun Sanusi


Emeka Okolo


Ibrahim Bello


and risk management









Dr Olubunmi Bajomo








Ms Tokunbo Ajayi


Mr Austin Akpe




Segun Ogbonnewo















Bank







AUTHORISATION




160 of the ISA




COSTS AND EXPENSES





MATERIAL CONTRACTS














of business

CONSENTS






Mr Emeka Okolo

Mr Abiodun Sanusi

Mr Ivie Omorogbe






































1 Application





will be rejected



















indicated below
















2 Allotment













RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form

















APPLICATION FORM















1 Introduction




2 Forecast







A Basis




B Assumptions


the money market




















Standards (IFRSs)




















respectively




4 Dividend Expense



5 Taxation


of tax





commitments






8 Time deposit





Recognition










Initial measurement


acquisition









Derecognition


derecognised when




and

either




















defaults



















9 Equity


10 Liabilities



unit holders












































2018


2019





Total Revenue 50760 385181 719840








Assets



Bank Placements 585127 1196215 2415571




292564 598108

1207785

Total Assets 1490538 3066647 6178124

Liabilities


Net Asset 1490538 3066647 6178124

Equity



1490538 3066647 6178124




3 months ending 31

Dec 2017


2018


2019



Income 50760 385181 719840

Management Fees (5486) (44858) (90584)















3 months ending 31

Dec 2017


2018


2019






1493333 3297770 6598511






1 Reporting Entity





















6 Interest Payable












31ST DECEMBER 2016


Nrsquo000 Nrsquo000

Assets


Financial Assets



Other Assets 1682 -






Liabilities


Tax payable - -


Equity


Share Premium - -








Nrsquo000 Nrsquo000



Other income 220 -

80340 -



Taxation 9432 -





12955 -
























Mutual Funds

















pension funds



















1999 to 2007






















Countries

























Management






Broking Operations
















































of Management






























and identity















Abubakar Jimoh




Abiodun Sanusi


Emeka Okolo


Ibrahim Bello


and risk management









Dr Olubunmi Bajomo








Ms Tokunbo Ajayi


Mr Austin Akpe




Segun Ogbonnewo















Bank







AUTHORISATION




160 of the ISA




COSTS AND EXPENSES





MATERIAL CONTRACTS














of business

CONSENTS






Mr Emeka Okolo

Mr Abiodun Sanusi

Mr Ivie Omorogbe






































1 Application





will be rejected



















indicated below
















2 Allotment













RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form

















APPLICATION FORM








Standards (IFRSs)




















respectively




4 Dividend Expense



5 Taxation


of tax





commitments






8 Time deposit





Recognition










Initial measurement


acquisition









Derecognition


derecognised when




and

either




















defaults



















9 Equity


10 Liabilities



unit holders












































2018


2019





Total Revenue 50760 385181 719840








Assets



Bank Placements 585127 1196215 2415571




292564 598108

1207785

Total Assets 1490538 3066647 6178124

Liabilities


Net Asset 1490538 3066647 6178124

Equity



1490538 3066647 6178124




3 months ending 31

Dec 2017


2018


2019



Income 50760 385181 719840

Management Fees (5486) (44858) (90584)















3 months ending 31

Dec 2017


2018


2019






1493333 3297770 6598511






1 Reporting Entity





















6 Interest Payable












31ST DECEMBER 2016


Nrsquo000 Nrsquo000

Assets


Financial Assets



Other Assets 1682 -






Liabilities


Tax payable - -


Equity


Share Premium - -








Nrsquo000 Nrsquo000



Other income 220 -

80340 -



Taxation 9432 -





12955 -
























Mutual Funds

















pension funds



















1999 to 2007






















Countries

























Management






Broking Operations
















































of Management






























and identity















Abubakar Jimoh




Abiodun Sanusi


Emeka Okolo


Ibrahim Bello


and risk management









Dr Olubunmi Bajomo








Ms Tokunbo Ajayi


Mr Austin Akpe




Segun Ogbonnewo















Bank







AUTHORISATION




160 of the ISA




COSTS AND EXPENSES





MATERIAL CONTRACTS














of business

CONSENTS






Mr Emeka Okolo

Mr Abiodun Sanusi

Mr Ivie Omorogbe






































1 Application





will be rejected



















indicated below
















2 Allotment













RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form

















APPLICATION FORM




Recognition










Initial measurement


acquisition









Derecognition


derecognised when




and

either




















defaults



















9 Equity


10 Liabilities



unit holders












































2018


2019





Total Revenue 50760 385181 719840








Assets



Bank Placements 585127 1196215 2415571




292564 598108

1207785

Total Assets 1490538 3066647 6178124

Liabilities


Net Asset 1490538 3066647 6178124

Equity



1490538 3066647 6178124




3 months ending 31

Dec 2017


2018


2019



Income 50760 385181 719840

Management Fees (5486) (44858) (90584)















3 months ending 31

Dec 2017


2018


2019






1493333 3297770 6598511






1 Reporting Entity





















6 Interest Payable












31ST DECEMBER 2016


Nrsquo000 Nrsquo000

Assets


Financial Assets



Other Assets 1682 -






Liabilities


Tax payable - -


Equity


Share Premium - -








Nrsquo000 Nrsquo000



Other income 220 -

80340 -



Taxation 9432 -





12955 -
























Mutual Funds

















pension funds



















1999 to 2007






















Countries

























Management






Broking Operations
















































of Management






























and identity















Abubakar Jimoh




Abiodun Sanusi


Emeka Okolo


Ibrahim Bello


and risk management









Dr Olubunmi Bajomo








Ms Tokunbo Ajayi


Mr Austin Akpe




Segun Ogbonnewo















Bank







AUTHORISATION




160 of the ISA




COSTS AND EXPENSES





MATERIAL CONTRACTS














of business

CONSENTS






Mr Emeka Okolo

Mr Abiodun Sanusi

Mr Ivie Omorogbe






































1 Application





will be rejected



















indicated below
















2 Allotment













RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form

















APPLICATION FORM




















9 Equity


10 Liabilities



unit holders












































2018


2019





Total Revenue 50760 385181 719840








Assets



Bank Placements 585127 1196215 2415571




292564 598108

1207785

Total Assets 1490538 3066647 6178124

Liabilities


Net Asset 1490538 3066647 6178124

Equity



1490538 3066647 6178124




3 months ending 31

Dec 2017


2018


2019



Income 50760 385181 719840

Management Fees (5486) (44858) (90584)















3 months ending 31

Dec 2017


2018


2019






1493333 3297770 6598511






1 Reporting Entity





















6 Interest Payable












31ST DECEMBER 2016


Nrsquo000 Nrsquo000

Assets


Financial Assets



Other Assets 1682 -






Liabilities


Tax payable - -


Equity


Share Premium - -








Nrsquo000 Nrsquo000



Other income 220 -

80340 -



Taxation 9432 -





12955 -
























Mutual Funds

















pension funds



















1999 to 2007






















Countries

























Management






Broking Operations
















































of Management






























and identity















Abubakar Jimoh




Abiodun Sanusi


Emeka Okolo


Ibrahim Bello


and risk management









Dr Olubunmi Bajomo








Ms Tokunbo Ajayi


Mr Austin Akpe




Segun Ogbonnewo















Bank







AUTHORISATION




160 of the ISA




COSTS AND EXPENSES





MATERIAL CONTRACTS














of business

CONSENTS






Mr Emeka Okolo

Mr Abiodun Sanusi

Mr Ivie Omorogbe






































1 Application





will be rejected



















indicated below
















2 Allotment













RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form

















APPLICATION FORM



















2018


2019





Total Revenue 50760 385181 719840








Assets



Bank Placements 585127 1196215 2415571




292564 598108

1207785

Total Assets 1490538 3066647 6178124

Liabilities


Net Asset 1490538 3066647 6178124

Equity



1490538 3066647 6178124




3 months ending 31

Dec 2017


2018


2019



Income 50760 385181 719840

Management Fees (5486) (44858) (90584)















3 months ending 31

Dec 2017


2018


2019






1493333 3297770 6598511






1 Reporting Entity





















6 Interest Payable












31ST DECEMBER 2016


Nrsquo000 Nrsquo000

Assets


Financial Assets



Other Assets 1682 -






Liabilities


Tax payable - -


Equity


Share Premium - -








Nrsquo000 Nrsquo000



Other income 220 -

80340 -



Taxation 9432 -





12955 -
























Mutual Funds

















pension funds



















1999 to 2007






















Countries

























Management






Broking Operations
















































of Management






























and identity















Abubakar Jimoh




Abiodun Sanusi


Emeka Okolo


Ibrahim Bello


and risk management









Dr Olubunmi Bajomo








Ms Tokunbo Ajayi


Mr Austin Akpe




Segun Ogbonnewo















Bank







AUTHORISATION




160 of the ISA




COSTS AND EXPENSES





MATERIAL CONTRACTS














of business

CONSENTS






Mr Emeka Okolo

Mr Abiodun Sanusi

Mr Ivie Omorogbe






































1 Application





will be rejected



















indicated below
















2 Allotment













RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form

















APPLICATION FORM





3 months ending 31

Dec 2017


2018


2019



Income 50760 385181 719840

Management Fees (5486) (44858) (90584)















3 months ending 31

Dec 2017


2018


2019






1493333 3297770 6598511






1 Reporting Entity





















6 Interest Payable












31ST DECEMBER 2016


Nrsquo000 Nrsquo000

Assets


Financial Assets



Other Assets 1682 -






Liabilities


Tax payable - -


Equity


Share Premium - -








Nrsquo000 Nrsquo000



Other income 220 -

80340 -



Taxation 9432 -





12955 -
























Mutual Funds

















pension funds



















1999 to 2007






















Countries

























Management






Broking Operations
















































of Management






























and identity















Abubakar Jimoh




Abiodun Sanusi


Emeka Okolo


Ibrahim Bello


and risk management









Dr Olubunmi Bajomo








Ms Tokunbo Ajayi


Mr Austin Akpe




Segun Ogbonnewo















Bank







AUTHORISATION




160 of the ISA




COSTS AND EXPENSES





MATERIAL CONTRACTS














of business

CONSENTS






Mr Emeka Okolo

Mr Abiodun Sanusi

Mr Ivie Omorogbe






































1 Application





will be rejected



















indicated below
















2 Allotment













RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form

















APPLICATION FORM





1 Reporting Entity





















6 Interest Payable












31ST DECEMBER 2016


Nrsquo000 Nrsquo000

Assets


Financial Assets



Other Assets 1682 -






Liabilities


Tax payable - -


Equity


Share Premium - -








Nrsquo000 Nrsquo000



Other income 220 -

80340 -



Taxation 9432 -





12955 -
























Mutual Funds

















pension funds



















1999 to 2007






















Countries

























Management






Broking Operations
















































of Management






























and identity















Abubakar Jimoh




Abiodun Sanusi


Emeka Okolo


Ibrahim Bello


and risk management









Dr Olubunmi Bajomo








Ms Tokunbo Ajayi


Mr Austin Akpe




Segun Ogbonnewo















Bank







AUTHORISATION




160 of the ISA




COSTS AND EXPENSES





MATERIAL CONTRACTS














of business

CONSENTS






Mr Emeka Okolo

Mr Abiodun Sanusi

Mr Ivie Omorogbe






































1 Application





will be rejected



















indicated below
















2 Allotment













RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form

















APPLICATION FORM





31ST DECEMBER 2016


Nrsquo000 Nrsquo000

Assets


Financial Assets



Other Assets 1682 -






Liabilities


Tax payable - -


Equity


Share Premium - -








Nrsquo000 Nrsquo000



Other income 220 -

80340 -



Taxation 9432 -





12955 -
























Mutual Funds

















pension funds



















1999 to 2007






















Countries

























Management






Broking Operations
















































of Management






























and identity















Abubakar Jimoh




Abiodun Sanusi


Emeka Okolo


Ibrahim Bello


and risk management









Dr Olubunmi Bajomo








Ms Tokunbo Ajayi


Mr Austin Akpe




Segun Ogbonnewo















Bank







AUTHORISATION




160 of the ISA




COSTS AND EXPENSES





MATERIAL CONTRACTS














of business

CONSENTS






Mr Emeka Okolo

Mr Abiodun Sanusi

Mr Ivie Omorogbe






































1 Application





will be rejected



















indicated below
















2 Allotment













RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form

















APPLICATION FORM
























Mutual Funds

















pension funds



















1999 to 2007






















Countries

























Management






Broking Operations
















































of Management






























and identity















Abubakar Jimoh




Abiodun Sanusi


Emeka Okolo


Ibrahim Bello


and risk management









Dr Olubunmi Bajomo








Ms Tokunbo Ajayi


Mr Austin Akpe




Segun Ogbonnewo















Bank







AUTHORISATION




160 of the ISA




COSTS AND EXPENSES





MATERIAL CONTRACTS














of business

CONSENTS






Mr Emeka Okolo

Mr Abiodun Sanusi

Mr Ivie Omorogbe






































1 Application





will be rejected



















indicated below
















2 Allotment













RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form

















APPLICATION FORM







pension funds



















1999 to 2007






















Countries

























Management






Broking Operations
















































of Management






























and identity















Abubakar Jimoh




Abiodun Sanusi


Emeka Okolo


Ibrahim Bello


and risk management









Dr Olubunmi Bajomo








Ms Tokunbo Ajayi


Mr Austin Akpe




Segun Ogbonnewo















Bank







AUTHORISATION




160 of the ISA




COSTS AND EXPENSES





MATERIAL CONTRACTS














of business

CONSENTS






Mr Emeka Okolo

Mr Abiodun Sanusi

Mr Ivie Omorogbe






































1 Application





will be rejected



















indicated below
















2 Allotment













RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form

















APPLICATION FORM























Management






Broking Operations
















































of Management






























and identity















Abubakar Jimoh




Abiodun Sanusi


Emeka Okolo


Ibrahim Bello


and risk management









Dr Olubunmi Bajomo








Ms Tokunbo Ajayi


Mr Austin Akpe




Segun Ogbonnewo















Bank







AUTHORISATION




160 of the ISA




COSTS AND EXPENSES





MATERIAL CONTRACTS














of business

CONSENTS






Mr Emeka Okolo

Mr Abiodun Sanusi

Mr Ivie Omorogbe






































1 Application





will be rejected



















indicated below
















2 Allotment













RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form

















APPLICATION FORM


























of Management






























and identity















Abubakar Jimoh




Abiodun Sanusi


Emeka Okolo


Ibrahim Bello


and risk management









Dr Olubunmi Bajomo








Ms Tokunbo Ajayi


Mr Austin Akpe




Segun Ogbonnewo















Bank







AUTHORISATION




160 of the ISA




COSTS AND EXPENSES





MATERIAL CONTRACTS














of business

CONSENTS






Mr Emeka Okolo

Mr Abiodun Sanusi

Mr Ivie Omorogbe






































1 Application





will be rejected



















indicated below
















2 Allotment













RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form

















APPLICATION FORM





and identity















Abubakar Jimoh




Abiodun Sanusi


Emeka Okolo


Ibrahim Bello


and risk management









Dr Olubunmi Bajomo








Ms Tokunbo Ajayi


Mr Austin Akpe




Segun Ogbonnewo















Bank







AUTHORISATION




160 of the ISA




COSTS AND EXPENSES





MATERIAL CONTRACTS














of business

CONSENTS






Mr Emeka Okolo

Mr Abiodun Sanusi

Mr Ivie Omorogbe






































1 Application





will be rejected



















indicated below
















2 Allotment













RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form

















APPLICATION FORM




Segun Ogbonnewo















Bank







AUTHORISATION




160 of the ISA




COSTS AND EXPENSES





MATERIAL CONTRACTS














of business

CONSENTS






Mr Emeka Okolo

Mr Abiodun Sanusi

Mr Ivie Omorogbe






































1 Application





will be rejected



















indicated below
















2 Allotment













RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form

















APPLICATION FORM




AUTHORISATION




160 of the ISA




COSTS AND EXPENSES





MATERIAL CONTRACTS














of business

CONSENTS






Mr Emeka Okolo

Mr Abiodun Sanusi

Mr Ivie Omorogbe






































1 Application





will be rejected



















indicated below
















2 Allotment













RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form

















APPLICATION FORM






























1 Application





will be rejected



















indicated below
















2 Allotment













RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form

















APPLICATION FORM




1 Application





will be rejected



















indicated below
















2 Allotment













RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form



or NIBBS into either of the issue proceeds account specified on of this Abridged Prospectus The cheque














APPLICATION FORM



RECEIVING AGENTS






Fbn Securities Ltd

Fsdh Securities Ltd











APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form

















APPLICATION FORM



APPLICATION FORM





Amount Paid



Cheque Number

Control No

Registrars


Date (ddmmyyyy)





SurnameCompany Name


Full Postal Address

City State


E-mail address

Next of kin

2 JOINT APPLICANT


Surname

Other Names




BVN

Branch Name

Account Number




ISSUING HOUSE

RC 207138 RC 1290392


IN THE




10 JULY 2017


28 JULY 2017

FUND MANAGER









Application Form




provided













Form

















APPLICATION FORM





Application Form




provided













Form

















APPLICATION FORM


CORONATION MONEY MARKET UND · PDF fileCoronation Money Market Fund ... This Abridged...

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Transcript of CORONATION MONEY MARKET UND · PDF fileCoronation Money Market Fund ... This Abridged...