ARM Trustees Appointed Sole Trustee for Pioneering Naira Debt Fund

ARM Trustees Limited is proud to have been appointed as Sole Trustee for the FCMB-TLG Private Debt Fund, Nigeria’s first Naira-denominated Private Debt Fund!

The Fund was established in the month of May 2024 with approval from The Securities and Exchange Commission (SEC), managed and sponsored by FCMB Asset Management Limited (FCMBAM) and TLG Capital Investments Limited (TLG Capital), United Kingdom respectively.

The Fund aims to raise N10 billion under Series 1 of its N100 billion program size. The FCMB-TLG Private Debt Fund is targeted at Qualified Institutional Investors (QIIs) and highnet-worth individuals (HNIs). It will invest in commercially viable and impact-oriented activities across key sectors of the Nigerian economy, aligning with the United Nations (UN) Sustainable Development Goals (SDGs).

This offers investors a chance to earn competitive, risk-adjusted returns while supporting sustainable economic growth.

James Ilori, CEO of FCMB Asset Management Limited, highlighted the significance of this Fund at the signing ceremony on Monday, June 3, 2024: “This innovative Fund is a significant milestone in the Nigerian financial landscape. It opens a new avenue for professional investors to participate in the growth of key sectors of the economy while providing essential capital to organisations driving sustainable economic growth and development in Nigeria.”

Aletor Adoghe, representing TLG Capital in Nigeria, shared, “We are delighted to partner with FCMB Asset Management in pioneering this Fund. The Fund aligns with our commitment to investing in untapped markets and will significantly contribute to Nigeria’s broader economic development.”

 

We at ARM Trustees are excited to be at the forefront of this innovative initiative, poised to play a crucial role in supporting the growth and development of selected sectors and deepening in the Nigerian Capital Market by continuing to support innovations across the market.

May 2024 CPI Report – Economic Enigma

According to the National Bureau of Statistics (NBS), Nigeria’s inflation rate reached a new 28-year high in May 2024, rising 26bps to 33.95% Year-over-Year (YoY) compared to 33.69% YoY in April 2024, marking an 18th consecutive acceleration. This upward trend was driven by increases in both major subcomponents: food (+13bps to 40.66% YoY) and core (+20bps to 27.04% YoY) inflation. Higher food prices and Naira volatility remain the major pressure points on domestic inflation. On a Month-on-Month (MoM) basis, headline inflation continued its decline for the third (3rd) consecutive month, falling slightly by 15bps to 2.14% MoM in May 2024 compared to 2.29% MoM in April 2024. This follows a decrease in the growth pace of both food (-22bps to 2.28% MoM) and core (-18bps to 2.01% MoM) inflation in the month.

 

Click here for the full report.