The asset management company of the Ecobank group puts on the market a mutual fund accessible at the price of 1000 FCFA to meet the needs of products suitable for all social classes and with high returns.
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Present in the financial markets for more than 15 years, EDC Asset Management, a member of the Ecobank group, has identified certain shortcomings and needs within the sub-region. These include the lack of alternative banking products, the strong demand for better returns, a demand for innovative products by all social classes. The new product of this asset management company therefore meets some of these needs. Called FCP Ecobank Monetaire Cemac, this new investment fund is intended to be accessible with a minimum subscription of 10,000 FCFA for a value of 1,000 FCFA per share. Another advantage, no subscription fees and no redemption fees applicable to any subscriber who wishes to take possession of his investment after a minimum period of 30 days. On the other hand, investment costs of 0.5% may be applied in the event of solicitation before the minimum period required.
The product, which had its official launch a few days ago in Douala, has a launch size of 150 million FCFA. With a lifespan of 99 years, it covers a fiscal year from 1is January to December 31 each year. The fund must generate an annual return corresponding to the benchmark index backed by sovereign securities with a maturity of 182 days. The fund will make a semi-annual distribution of interest income. This product can also be used as collateral to obtain bank loans from Ecobank
In its investment strategy, the FCP Ecobank Monétaire Cemac will be invested at least 95% of its net assets in short-term rate instruments. In particular securities issued by States whose maturity does not exceed one year, BTAs and OTAs. With assets under management of 16 billion FCFA, investment solutions with an annual return of between 6 and 7% over three years, EDC Asset Management Cemac offers a wide range of products. The management mandate, the savings plan for companies and mutual funds. Its well-known flagship product so far is the Ecobank Cemac bond FCP. This product has posted a cumulative performance of 20.13% since July 2020.
EDC Asset Management Cemac belongs to the Ecobank Development Corporation group, a subsidiary of the transnational Ecobank Incorporated group which provides financial engineering, asset management, capital markets and wealth management services. The company has 19 million customers in all categories. Individuals, SMEs, NGOs, government etc. Its asset management activities cover all of sub-Saharan Africa with the objective of contributing to financial integration.
