Zenith funds promise better result next year
Stanley Opara
Zenith
Ethical Fund, Zenith Income Fund and Zenith Equity Fund, which are
collectively called Zenith Funds, have assured investors of a better
business result next year.
The funds,
which are managed by Zenith Capital Limited, pool the resources of
various unit holders together for onward investment and deliver returns
to the unit holders.
The Zenith
Equity Fund is substantially invested in equities; the Zenith Income
Fund is invested in Fixed Income securities while the Zenith Ethical
Fund is invested entirely in equities.
A director
of the company, Mr. Jubril Enakele, who spoke on behalf of the acting
Managing Director of Zenith Capital, Mr. Kenneth Brai, assured existing
and potential investors of a better business performance next year given
the firm’s projections.
He said
unit holders should expect the best from the company going forward,
adding, “It has been a challenging year. But we are striving to deliver
optimum returns for customers’ investments. We are going to continue to
improve our communication and reach our investors via various channels
to update them on developments around their investments.
“It is a
difficult market now, but we will continue to strive to deliver optimum
returns on investment in spite of the challenging operating environment.
We will do better next year.”
The funds
recommended a dividend of 106 kobo for the financial year. The dividend
was approved by the unit holders of the three funds at the first annual
general meeting held in Lagos.
In their
report to unit holders, Zenith Capital Limited disclosed that the funds
recommended a total dividend of 106 kobo for the financial year.
According to the fund managers, Zenith Equity Fund is to pay a dividend
of 38 kobo, while Zenith Ethical Fund and Zenith Income Fund are to pay
34 kobo, respectively.
However,
no dividend was declared in respect of the 2014 financial year. On the
operating environment, the managers said in the period under review,
market risk sentiments suffered as anxiety mounted over the ability of
the Nigerian economy to weather the effect of falling crude oil prices
and lingering devaluation pressure on the naira.
“As a
result of this market scenario, patronage from offshore portfolio
investors who were mindful of the currency risk in the last two quarters
of 2014 was quite low. Total foreign outflows from the stock market in
2014 have exceeded inflows by 22 per cent,” the managers explained.
They said
Zenith Income Fund maintained an overweight position in fixed income
instruments through the review period, which informed their increased
exposure to high yielding treasury bills and took advantage of
volatility in equities from time to time.
Buhari Orders Immediate Payment Of December Salaries
President Muhammadu Buhari has ordered the immediate payment of December salaries to Federal Government workers.
According to the Nation Newspaper, the Minister of Finance, Mrs Kemi Adeosun, who spoke yesterday in Abuja at the end of the monthly Federation Account Allocation Committee (FAAC) meeting, said salaries were already being paid in response to the Presidential directive and that people have already started getting alerts.
“We are very conscious of the need that people are paid in time for the festive season,” she stated.
Zenith
Ethical Fund, Zenith Income Fund and Zenith Equity Fund, which are
collectively called Zenith Funds, have assured investors of a better
business result next year.
The funds,
which are managed by Zenith Capital Limited, pool the resources of
various unit holders together for onward investment and deliver returns
to the unit holders.
The Zenith
Equity Fund is substantially invested in equities; the Zenith Income
Fund is invested in Fixed Income securities while the Zenith Ethical
Fund is invested entirely in equities.
A director
of the company, Mr. Jubril Enakele, who spoke on behalf of the acting
Managing Director of Zenith Capital, Mr. Kenneth Brai, assured existing
and potential investors of a better business performance next year given
the firm’s projections.
He said
unit holders should expect the best from the company going forward,
adding, “It has been a challenging year. But we are striving to deliver
optimum returns for customers’ investments. We are going to continue to
improve our communication and reach our investors via various channels
to update them on developments around their investments.
“It is a
difficult market now, but we will continue to strive to deliver optimum
returns on investment in spite of the challenging operating environment.
We will do better next year.”
The funds
recommended a dividend of 106 kobo for the financial year. The dividend
was approved by the unit holders of the three funds at the first annual
general meeting held in Lagos.
In their
report to unit holders, Zenith Capital Limited disclosed that the funds
recommended a total dividend of 106 kobo for the financial year.
According to the fund managers, Zenith Equity Fund is to pay a dividend
of 38 kobo, while Zenith Ethical Fund and Zenith Income Fund are to pay
34 kobo, respectively.
However,
no dividend was declared in respect of the 2014 financial year. On the
operating environment, the managers said in the period under review,
market risk sentiments suffered as anxiety mounted over the ability of
the Nigerian economy to weather the effect of falling crude oil prices
and lingering devaluation pressure on the naira.
“As a
result of this market scenario, patronage from offshore portfolio
investors who were mindful of the currency risk in the last two quarters
of 2014 was quite low. Total foreign outflows from the stock market in
2014 have exceeded inflows by 22 per cent,” the managers explained.
They said
Zenith Income Fund maintained an overweight position in fixed income
instruments through the review period, which informed their increased
exposure to high yielding treasury bills and took advantage of
volatility in equities from time to time.
Buhari Orders Immediate Payment Of December Salaries
President Muhammadu Buhari has ordered the immediate payment of December salaries to Federal Government workers.
According to the Nation Newspaper, the Minister of Finance, Mrs Kemi Adeosun, who spoke yesterday in Abuja at the end of the monthly Federation Account Allocation Committee (FAAC) meeting, said salaries were already being paid in response to the Presidential directive and that people have already started getting alerts.
“We are very conscious of the need that people are paid in time for the festive season,” she stated.
President Muhammadu Buhari has ordered the immediate payment of December salaries to Federal Government workers.
According to the Nation Newspaper, the Minister of Finance, Mrs Kemi Adeosun, who spoke yesterday in Abuja at the end of the monthly Federation Account Allocation Committee (FAAC) meeting, said salaries were already being paid in response to the Presidential directive and that people have already started getting alerts.
“We are very conscious of the need that people are paid in time for the festive season,” she stated.
- See more at: http://www.naijaloaded.com.ng/2015/12/23/buhari-orders-immediate-payment-of-december-salaries/#sthash.jnG9mc9k.dpuf
According to the Nation Newspaper, the Minister of Finance, Mrs Kemi Adeosun, who spoke yesterday in Abuja at the end of the monthly Federation Account Allocation Committee (FAAC) meeting, said salaries were already being paid in response to the Presidential directive and that people have already started getting alerts.
“We are very conscious of the need that people are paid in time for the festive season,” she stated.
- See more at: http://www.naijaloaded.com.ng/2015/12/23/buhari-orders-immediate-payment-of-december-salaries/#sthash.jnG9mc9k.dpuf
President Muhammadu Buhari has ordered the immediate payment of December salaries to Federal Government workers.
According to the Nation Newspaper, the Minister of Finance, Mrs Kemi Adeosun, who spoke yesterday in Abuja at the end of the monthly Federation Account Allocation Committee (FAAC) meeting, said salaries were already being paid in response to the Presidential directive and that people have already started getting alerts.
“We are very conscious of the need that people are paid in time for the festive season,” she stated.
- See more at: http://www.naijaloaded.com.ng/2015/12/23/buhari-orders-immediate-payment-of-december-salaries/#sthash.jnG9mc9k.dpuf
According to the Nation Newspaper, the Minister of Finance, Mrs Kemi Adeosun, who spoke yesterday in Abuja at the end of the monthly Federation Account Allocation Committee (FAAC) meeting, said salaries were already being paid in response to the Presidential directive and that people have already started getting alerts.
“We are very conscious of the need that people are paid in time for the festive season,” she stated.
- See more at: http://www.naijaloaded.com.ng/2015/12/23/buhari-orders-immediate-payment-of-december-salaries/#sthash.jnG9mc9k.dpuf
President Muhammadu Buhari has ordered the immediate payment of December salaries to Federal Government workers.
According to the Nation Newspaper, the Minister of Finance, Mrs Kemi Adeosun, who spoke yesterday in Abuja at the end of the monthly Federation Account Allocation Committee (FAAC) meeting, said salaries were already being paid in response to the Presidential directive and that people have already started getting alerts.
“We are very conscious of the need that people are paid in time for the festive season,” she stated.
- See more at: http://www.naijaloaded.com.ng/2015/12/23/buhari-orders-immediate-payment-of-december-salaries/#sthash.jnG9mc9k.dpuf
According to the Nation Newspaper, the Minister of Finance, Mrs Kemi Adeosun, who spoke yesterday in Abuja at the end of the monthly Federation Account Allocation Committee (FAAC) meeting, said salaries were already being paid in response to the Presidential directive and that people have already started getting alerts.
“We are very conscious of the need that people are paid in time for the festive season,” she stated.
- See more at: http://www.naijaloaded.com.ng/2015/12/23/buhari-orders-immediate-payment-of-december-salaries/#sthash.jnG9mc9k.dpuf
President Muhammadu Buhari has ordered the immediate payment of December salaries to Federal Government workers.
According to the Nation Newspaper, the Minister of Finance, Mrs Kemi Adeosun, who spoke yesterday in Abuja at the end of the monthly Federation Account Allocation Committee (FAAC) meeting, said salaries were already being paid in response to the Presidential directive and that people have already started getting alerts.
“We are very conscious of the need that people are paid in time for the festive season,” she stated.
- See more at: http://www.naijaloaded.com.ng/2015/12/23/buhari-orders-immediate-payment-of-december-salaries/#sthash.jnG9mc9k.dpuf
According to the Nation Newspaper, the Minister of Finance, Mrs Kemi Adeosun, who spoke yesterday in Abuja at the end of the monthly Federation Account Allocation Committee (FAAC) meeting, said salaries were already being paid in response to the Presidential directive and that people have already started getting alerts.
“We are very conscious of the need that people are paid in time for the festive season,” she stated.
- See more at: http://www.naijaloaded.com.ng/2015/12/23/buhari-orders-immediate-payment-of-december-salaries/#sthash.jnG9mc9k.dpuf
President Muhammadu Buhari has ordered the immediate payment of December salaries to Federal Government workers.
According to the Nation Newspaper, the Minister of Finance, Mrs Kemi Adeosun, who spoke yesterday in Abuja at the end of the monthly Federation Account Allocation Committee (FAAC) meeting, said salaries were already being paid in response to the Presidential directive and that people have already started getting alerts.
“We are very conscious of the need that people are paid in time for the festive season,” she stated.
- See more at: http://www.naijaloaded.com.ng/2015/12/23/buhari-orders-immediate-payment-of-december-salaries/#sthash.jnG9mc9k.dpuf
President Muhammadu Buhari has ordered the immediate payment of December salaries to Federal Government workers.
According to the Nation Newspaper, the Minister of Finance, Mrs Kemi Adeosun, who spoke yesterday in Abuja at the end of the monthly Federation Account Allocation Committee (FAAC) meeting, said salaries were already being paid in response to the Presidential directive and that people have already started getting alerts.
“We are very conscious of the need that people are paid in time for the festive season,” she stated.
- See more at:
http://www.naijaloaded.com.ng/2015/12/23/buhari-orders-immediate-payment-of-december-salaries/#sthash.jnG9mc9k.dpuf
According to the Nation Newspaper, the Minister of Finance, Mrs Kemi Adeosun, who spoke yesterday in Abuja at the end of the monthly Federation Account Allocation Committee (FAAC) meeting, said salaries were already being paid in response to the Presidential directive and that people have already started getting alerts.
“We are very conscious of the need that people are paid in time for the festive season,” she stated.
- See more at: http://www.naijaloaded.com.ng/2015/12/23/buhari-orders-immediate-payment-of-december-salaries/#sthash.jnG9mc9k.dpuf
Buhari Orders Immediate Payment Of December Salaries
President Muhammadu Buhari has ordered the immediate payment of December salaries to Federal Government workers.
According to the Nation Newspaper, the Minister of Finance, Mrs Kemi Adeosun, who spoke yesterday in Abuja at the end of the monthly Federation Account Allocation Committee (FAAC) meeting, said salaries were already being paid in response to the Presidential directive and that people have already started getting alerts.
“We are very conscious of the need that people are paid in time for the festive season,” she stated.
President Muhammadu Buhari has ordered the immediate payment of December salaries to Federal Government workers.
According to the Nation Newspaper, the Minister of Finance, Mrs Kemi Adeosun, who spoke yesterday in Abuja at the end of the monthly Federation Account Allocation Committee (FAAC) meeting, said salaries were already being paid in response to the Presidential directive and that people have already started getting alerts.
“We are very conscious of the need that people are paid in time for the festive season,” she stated.
- See more at: http://www.naijaloaded.com.ng/2015/12/23/buhari-orders-immediate-payment-of-december-salaries/#sthash.jnG9mc9k.dpuf
According to the Nation Newspaper, the Minister of Finance, Mrs Kemi Adeosun, who spoke yesterday in Abuja at the end of the monthly Federation Account Allocation Committee (FAAC) meeting, said salaries were already being paid in response to the Presidential directive and that people have already started getting alerts.
“We are very conscious of the need that people are paid in time for the festive season,” she stated.
- See more at: http://www.naijaloaded.com.ng/2015/12/23/buhari-orders-immediate-payment-of-december-salaries/#sthash.jnG9mc9k.dpuf
President Muhammadu Buhari has ordered the immediate payment of December salaries to Federal Government workers.
According to the Nation Newspaper, the Minister of Finance, Mrs Kemi Adeosun, who spoke yesterday in Abuja at the end of the monthly Federation Account Allocation Committee (FAAC) meeting, said salaries were already being paid in response to the Presidential directive and that people have already started getting alerts.
“We are very conscious of the need that people are paid in time for the festive season,” she stated.
- See more at: http://www.naijaloaded.com.ng/2015/12/23/buhari-orders-immediate-payment-of-december-salaries/#sthash.jnG9mc9k.dpuf
According to the Nation Newspaper, the Minister of Finance, Mrs Kemi Adeosun, who spoke yesterday in Abuja at the end of the monthly Federation Account Allocation Committee (FAAC) meeting, said salaries were already being paid in response to the Presidential directive and that people have already started getting alerts.
“We are very conscious of the need that people are paid in time for the festive season,” she stated.
- See more at: http://www.naijaloaded.com.ng/2015/12/23/buhari-orders-immediate-payment-of-december-salaries/#sthash.jnG9mc9k.dpuf
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