Norrenberger launches dollar fund to hedge currency risk

Norrenberger, an integrated financial services group, yesterday in Abuja launched the Norrenberger Dollar Fund, designed to help investors hedge their savings from the eroding effects of inflation and devaluation. The Norrenberger Dollar Fund, approved by the Securities and Exchange Commission (SEC) is an open-ended mutual fund designed to provide investors with capital appreciation and diversification […]

Norrenberger, an integrated financial services group, yesterday in Abuja launched the Norrenberger Dollar Fund, designed to help investors hedge their savings from the eroding effects of inflation and devaluation.

The Norrenberger Dollar Fund, approved by the Securities and Exchange Commission (SEC) is an open-ended mutual fund designed to provide investors with capital appreciation and diversification as it invests in highly liquid investments that provide liquidity to investors.

Speaking at the event, the Group Managing Director of Norrenberger, Mr Tony Edeh said:  “By 2025, we hope to have delivered at least one financial solution to every household.

The launch of the Norrenberger Dollar Fund comes at the right time to help investors diversify their portfolio while also helping those with US Dollar obligations hedge against currency risk.

The Fund will invest in Eurobonds issued by governments and corporates and dollar denominated Money Market Instruments and cash. The Fund has a minimum subscription amount of $500 and an additional subscription amount of $100.This means that investors can add to their investments at any time,” he said.

The Fund will open for subscription on 19 December 2022.