July 18, 2011
THISDAY, BGL Partners UBS to Attract N15tr Investment
BGL Group is partnering UBS, world’s renowned full-service investment bank, based in Switzerland, to attract up to $100 billion (N15 trillion) foreign direct investment (FDI) into the nation’s economy- from a horde of investors- reputed globally, to be the largest . UBS and its group, called “bulge-bracket” institutional investors, have about $3 trillion assets and funds under their management, $600 billion (or 20 per cent ) of which are being in invested emerging and frontier markets. 'Bulge-bracket' institutional investors are the group of investment banks considered to be the largest and most profitable in the world; their investment banking clients are usually large corporations, institutions, and governments. Members of this group namely, Fidelity Investment Services, Goldman Sachs Asset Management, Oppenheimer Funds, Janus Capital, T. Rowe Price Global Investment Services and Trade Global Investors, that will launch their “African Investor Tour” Monday, are ready to invest potentially about $150 billion in institutions in Nigeria and other frontier markets.
June 10, 2011
THISDAY, BGL Launch Stock Market Index
In another feat set to push the boundaries, THISDAY and BGL Plc, a leading investment company, are proud to introduce the THISDAY-BGL 50 Index dedicated to providing reports, research and in-depth analysis on the top 50 equities listed on the Nigerian Stock Exchange (NSE).
February 7, 2011
THISDAY, BGL Launch Stock Market Index
n another feat set to push the boundaries, THISDAY and BGL Plc, a leading investment company, are proud to introduce the THISDAY-BGL 50 Index dedicated to providing reports, research and in-depth analysis on the top 50 equities listed on the Nigerian Stock Exchange (NSE).
The first of its kind in the local media landscape, the THISDAY-BGL 50 has been developed and will be maintained by the THISDAY-BGL Index Committee, a team of BGL and THISDAY market and index analysts who meet regularly.
The objective of the THISDAY-BGL 50 is to become the leading indicator of Nigerian equities, reflecting the risk and return features of the market on a regular basis.
The index, which will be published daily, was first created on January 1, 2011, starting at a base level of 100 points that will be calculated at the end of each trading day.
In order to ensure that the THISDAY-BGL 50 conforms to financial industry standards, the committee will be guided by a set of guidelines for maintaining the index and guaranteeing its integrity.
The criteria adopted by the THISDAY-BGL committee for the selection of the 50 quoted companies on the index include the listing of such companies on the NSE in addition to other determining factors such as their corporate structure, accounting and disclosure levels.
Other criteria for the 50 companies to be covered by the index are:
Market capitalisation as a determinant for companies with a capitalisation in excess of N5 billion, which will be reviewed from time to time to ensure consistency with market conditions.
A public float of at least 25 per cent, which the committee explained that the minimum could be reviewed to accommodate large capitalisation stocks which fall below this threshold but with a clear objective to expand public float to 25 per cent.
The financial viability of companies on the index, as real sector companies should have four consecutive quarters of positive as-reported earnings, where as-reported earnings are defined as profit after tax excluding extraordinary items.
Source: ThisDay Newspaper
October 20, 2010
BGL inaugurates two mutual funds
BGL Asset Management Limited has secured the approval of the Securities and Exchange Commission to inaugurate two open-ended mutual funds.The two funds- BGL Nubian Fund and BGL Sapphire Fund have been created by the company to help investors diversify their portfolio.
The company in a statement on Tuesday, noted that the BGL Nubian Fund, positioned to invest primarily in the equities market, was offering 500,000,000 units for subscription at N1 per unit.It added that the BGL Sapphire Fund was a fixed income fund which guaranteed the principal investment, and was offering 2,000,000,000 units for subscription at N1 per unit.
It quoted the Director, BGL Asset Management, Mr. Chibundu Edozie, as saying that, ”the Nubian Fund has been targeted at investors with higher appetite for risk in their investment strategy to take advantage of medium to long-term growth anticipated in the Nigerian equities market.He continued, ”The Sapphire fund has developed for investors with lower appetite for risks in their investment strategy, given the relatively safe and stable outcome of investing in Fixed Income Instruments.”
The Fund which opened on October 11, 2010, will be on offer till November 17, 2010, and would be listed on the Nigerian Stock Exchange at the conclusion of the allotment process.
For further information visit: www.bglassetmanagement.com/funds