The Fund > Performance

Performance of the Fund

We completed the first eight months of the Fund with a return of 28% per annum at the end of June 2003, and declared a dividend of 11.02 kobo per N1.00 unit.

The fund has consistently offered adequate returns on investment as reflected by continuous increase offer and bid prices over the last 18 months of operation. The fund, which opened at an offer price of N1.05 in November 2002 has grown to N1.83 as at July 09, 2004. The ex-div and cum-div returns on investment from inception to date are 74% and 84.8% respectively. The history of NIGFUND’s bid and offer prices from inception to date is captured as appendix to this letter.

Operational Highlights

• First Unit Trust in Nigeria to pay dividend as high as 11.02 kobo in less than one year of operations.
• Dividend yield of 6.02% in first eight months of operations.
• 84.8% cum-div returns in 18 months of operations.
• 63.0% earnings in one year.