RT Briscoe Gets SEC Approval, Launches Money Market Fund 

RT Briscoe Nigeria has announced the launch of its first-ever fund, the “R.T. Briscoe Savings and Investment Fund aimed at providing liquidity for individuals and institutional investors following the approval of Securities and Exchange Commission (SEC).

This milestone marks a significant step in RT Briscoe’s commitment to providing innovative opportunities to its existing and potential shareholders to invest in the Company.

The company, in a statement to newsmen, affirmed that, the approach ensures that investors can own a stake in R.T. Briscoe Nigeria PLC with very little initial capital, making it accessible to a broader range of investors and democratizing investment opportunities within the company.

According to the company, The R.T. Briscoe Savings and Investment Fund is an open-ended money market fund designed to offer unitholders a steady stream of income and capital preservation. By investing in a diversified portfolio of high-quality money market instruments, the fund ensures low risk and competitive returns.

The statement explained that the primary objective of the savings and investment funds is to earn a steady income and preserve capital, catering to both individual and institutional investors.

The fund is professionally managed by DLM Asset Management Limited who recently won the best Asset Management company of the year at the African Industrial and Development Conference and Awards.

This accolade underscores their commitment to ensuring expert oversight and strategic investment decisions. First City Monument Bank Limited serves as the custodian, while UTL Trust Management Services acts as the trustee, providing additional security and transparency.

With a minimum subscription of 10 units at N1,000 per unit, the fund is accessible with a minimum investment of N10,000. The fund comprises 1,000,000 units available for subscription, providing many opportunities for investors.

Additionally, the fund offers liquidity, allowing easy access to investments and the option to convert holdings into equity ownership in R.T. Briscoe Nigeria PLC.

Confirming the development, Group managing director and chief executive of RT Briscoe Nigeria Plc, Seyi Onajide expressed his enthusiasm about the launch: “We are thrilled to introduce the R.T. Briscoe Savings and Investment Fund, demonstrating our dedication to providing reliable and accessible investment opportunities that empower investors to achieve their financial goals.

Onajide stated that the launch underscores our commitment to innovation and growth, offering clients an opportunity to save to own a part of R.T. Briscoe Nigeria PLC. We believe this fund will not only enhance our investment portfolio but also reinforce our leadership across our diverse businesses, including Automobile, Industrial Air Compressor, Material Handling, Industrial Equipment, Power, and Real Estate.

Similarly, MD of DLM Asset Management, Ugonnaya Osi commented on the RT Briscoe Nigeria Plc fund, affirming that “With the expertise of DLM Asset Management Limited and the unwavering support of our trusted partners, we are confident that the RT Briscoe Fund will deliver significant value to our investors. As stewards of the RT Briscoe Fund, our commitment extends beyond mere management; we aim to maximize returns and foster sustained financial growth through meticulous oversight and strategic foresight.

This dedication ensures that every investment decision is informed by a deep understanding of market dynamics and investor needs, reinforcing our pledge to deliver excellence in financial management.” She added.