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FAQ

FAQsAVA GAM FIXED INCOME FUND

The AVA GAM Fixed Income Fund (“the fund”) is an actively managed open-ended unit trust scheme authorized by the Securities and Exchange Commission (SEC), whose main objective is to preserve investor capital and earn returns from a range of high-quality fixed income instruments.

The Fund will utilize the market bargaining power obtained from pooling of funds to enable investors enjoy competitive returns at minimal risk. The Fund will also give investors access to liquidity, diversification, and professional portfolio management.

The AVA GAM Fixed Income Fund will be managed by AVA Global Asset Managers Limited, the Asset Management unit of the AVA Group. AVA GAM is currently licensed by the Securities & Exchange Commission as a fund/portfolio management company. The fund manager has demonstrated competence in managing clients’ investment need with its range of products and services.

Each unit of the AVA GAM Fixed Income Fund is priced at N1,000.00

You can invest a minimum of N10,000.00 into the AVA GAM Fixed Income Fund to purchase 10 units, while additional investments will be issued in multiples of 10 units thereafter.

The Minimum holding period for an investment in the Fund is One Hundred and Eighty (180) calendar days from the date of subscription to the Fund.

Investors can subscribe to Units of the Fund from the Fund Manager or any of its designated agents/ representative or through any medium that may be approved and provided by the Fund Manager from time to time. Payment for Units for the Fund can be made by a personal or manager’s cheque or via a bank or wire transfer in accordance with instructions on the subscription form or as provided by the Fund Manager.

Every unit holder will be entitled to a statement of unit holding. This will be a statement evidencing ownership to the number of units subscribed. Joint Unit Holders shall be entitled to one statement in respect of the units held jointly which shall be delivered to the joint holder whose name first appears on the Register.

Unit Holders will have access to view their account holdings through a secure client portal accessible via a unique ID provided to all unit holders, and to monitor daily market prices of the Fund.

The fund would invest its total assets in FGN bonds, State and Corporate bonds and Money Market Instruments with Investment Grade ratings in line with the allocation stated below:

When you invest in the AVA GAM Fixed Income Fund, returns will be dependent upon key macro-economic indicators, interest rates of the underlying financial instruments and comparable investment returns in the market. The Fund Manager cannot influence these external factors. However, the Fund Manager will strive to maximize competitive returns to unitholders.

AVA GAM as the Fund Manager will distribute income (less expense) as dividends to Unit Holders on an annual basis. The Unit Holders shall have the option to be paid dividends or to reinvest their dividends in additional Units at the prevailing unit price. Unit Holders who elect to have dividends reinvested in new units shall be entitled to an issue of units that shall be equal in value to the amount they otherwise would have received in cash as dividend.

Unit holders shall have the right to redeem all or part of the Units held at the Bid Price on any Business Day, provided redemption documents are received in accordance with the instructions specified by the Fund Manager from time to time. Minimum permissible holding after partial redemption is 10 units or such balance as advised by the Manager from time to time.

The Fund will make redemption payments within 5 (five) Business Days of receipt of the Redemption Notice.

Yes, periodic contributions can be made. The Fund is open-ended and there is no closing date.

The AVA GAM Fixed Income Fund, like all Unit Trust Schemes in Nigeria will be regulated by the SEC. In addition, a Trustee, STL Trustees Limited has been appointed to act on behalf of the unit- holders, legally ensuring that the Fund is managed in the best interests of unitholders and in accordance with the provisions of the Trust Deed.

The trustee of the fund is STL Trustees Limited. The trustees have a legal duty to protect the interest of unit holders. Their activities would include ongoing supervision of compliance with the investment policies of the fund.

The Fund seeks to target retail investors, High Net worth Individuals (HNIs), Institutional Investors seeking a regular stream of income through low-risk investments, and optimization of return on investments in fixed income instruments.

The form can be downloaded from our website at www.avacapitalgroup.com, or you can obtain a copy at no cost at our office at – 3 Glover Road, Ikoyi, Lagos.

Yes, it is possible to invest for minors, clubs or groups.

Kindly send an email to am@avacapitalgroup.com and we will contact you within 24 hours.

FAQsAVA GAM DOLLAR FUND

AVA GAM Fixed Income Dollar is an actively managed open-ended unit trust scheme whose main objective is to achieve capital appreciation in the medium to long term for Investors in US Dollars.

The fund will deliver capital appreciation in the medium to long term for Investors with USD and also significantly higher returns than what is obtainable from the average domiciliary account in the local banks. The fund will also give investors liquidity, diversification, annual income and professional portfolio management.

The AVA GAM Fixed Income Dollar Fund will be managed by AVA Global Asset Managers Limited, the Asset Management unit of the AVA Group, currently licensed by the Securities & Exchange Commission as a fund/portfolio management company. The fund manager has demonstrated competence in managing clients’ investment need with its range of products and services.

You can invest with a minimum of $1,000 into the AVA GAM Dollar Fund, the equivalent of 10 units into the fund, while additional investments will be issued in multiples of 5 units.

Each unit of the AVA GAM Fund is priced at $100.

The Minimum holding period of an Investment into the AVA GAM Dollar Fund is One Hundred and Eighty (180) calendar days from the date of subscription to the Fund.

Investors can subscribe to Units of the Fund after initial offering period from the Fund Manager or any of its designated agents/ representatives or through any medium that may be approved and provided by the Fund Manager from time to time. Payment for Units of the Fund can be made by a personal or manager’s cheque or via a bank or wire transfer in accordance with instructions on the subscription form or as provided by the Fund Manager.

Every unit holder will be entitled to a statement of unit holding, which will be a statement and evidence of their ownership to the number of units specified on such a document. Joint Unit Holders shall be entitled to one statement in respect of the units held jointly by them which shall be delivered to the joint holder whose name first appears on the Registe.

Unit Holders can visit the Fund Managers website www.avacapitalgroup.com to monitor daily market prices of the Fund.

When you invest in the AVA GAM Dollar Fund, returns will be dependent upon key macro-economic indicators, interest rates of the financial markets and comparable investment returns in the market. The Fund Manager does not have an influence on these factors. Accordingly, it is impossible to guarantee any particular rate of return on the investment.

However, the Fund Manager will strive to maximize competitive returns to unit-holders.

Yes, periodic contributions can be made. The Fund is open-ended and there is no closing date.

The fund would invest its total assets in FGN Eurobonds, Corporate Eurobonds and Money Market as stated below:

Unit-holders shall have the right to redeem all or part of the Units held by them at the Bid Price on any Business Day, provided redemption documents are received in accordance with the instructions specified by the Fund Manager from time to time. Minimum permissible holding after partial redemption is 5 units or such balance as advised by the Manager from time to time.

The Fund will make redemption payments with 5 (five) Business Days of receipt of the Redemption Notice. A 1.5% of redemptive value is payable on any redemption effected within 180 days of subscription to the Fund.

AVA GAM as the Fund Manager will distribute income (less expense) as dividends to Unit Holders on annual basis. The Unit Holders shall have the option to elect to be paid dividends or to reinvest their dividends in additional Units at the prevailing unit price. Unit Holders who elect to have dividends reinvested in new units shall be entitled to an issue of units that shall be equal in value to the amount they otherwise would have received in cash as dividend.

AVA GAM as the Fund Manager will distribute income (less expense) as dividends to Unit Holders on annual basis. The Unit Holders shall have the option to elect to be paid dividends or to reinvest their dividends in additional Units at the prevailing unit price. Unit Holders who elect to have dividends reinvested in new units shall be entitled to an issue of units that shall be equal in value to the amount they otherwise would have received in cash as dividend.

The AVA GAM Fund, like all Unit Trust Schemes in Nigeria will be regulated by the SEC. In addition, a Trustee, UTL Trust Management Trust Services has been appointed to act on behalf of the unit-holders, legally ensuring that the Fund is managed in the best interests of unit-holders and in accordance with the provisions of the Trust Deed.

The trustee of the fund is UTL Trust Management Trust Services. The trustees have a legal duty to protect the interest of unit-holders. Their activities would include ongoing supervision of compliance with the investment policies of the fund.

The Fund seeks to invite retail investors, High Net Worth Individuals (HNIs), Africans in Diaspora and institutional investors (both local and foreign), like you, seeking portfolio diversification who desire to invest in a pool of US Dollar denominated fixed income securities and maximize returns.

FAQsWILLS

A Will is a written instrument/document containing directions/instructions for how the assets of the person making the Will should be divided/distributed upon his/her death.

You should! Everyone needs an estate plan. Having an estate plan is not dependent on the size of one’s estate and does not symbolise death. It is about planning for the disposition and administration of an estate, that is, all the assets owned by a person.

  • If a person dies without leaving a Will (intestate), or if the Will is not valid for any reason, the beneficiaries of his Estate will be determined according to the Laws of Intestate Succession.
  • A Will lets you choose the individual or an entity to serve as executor of your estate. The named executor will manage and settle your estate according to the law and your desires expressed in your Will. Without a Will, your beneficiaries would have to petition the court to appoint an administrator through a Letter of Administration, which can be expensive and which can invite disagreement especially if they disagree as to the person qualified to administer your estate.
  • A Will enables you to eliminate unnecessary expenses and court costs involved in the administration of an estate without a Will.

For as little as N50, 000.00 (or more, depending on your specific needs), we will help you draft your Will and lodge it at the Probate Registry. You will also receive a waxed (sealed) copy of the Will, which you can keep in a safe place.

Dying without a Will is called dying “intestate”. Where one dies without a Will, one is said to have died intestate. Where a person dies intestate, the person’s estate becomes subject to State laws and goes through the probate process where a Letter of Administration is obtained to determine the Estate. Probate can take many years, is very tedious and cost intensive. In most cases, a large chunk of the Estate goes to paying off lawyers whose services were engaged during probate.

A Will can only be enforced through a process called Probate. Probate is the legal process through which the court makes sure that, after you die, your Will is valid, your debts are paid and your assets are distributed according to your Will.

Probate is the ONLY legal way to change the title on an asset when the person listed as the owner dies. Only the court can change titles after someone dies.

Estate planning is the process of determining, during one’s lifetime, the management and disposal of one’s assets.

An estate is inclusive of everything a person owns. This may include one’s home, other real estate, investments, personal property, etcetera.

If proper legal arrangements are not made for the management of one’s assets and affairs, the assets will be subject to the country’s intestacy laws. As a result, the Estate goes through probate which does not guarantee privacy. Furthermore, the probate process is tedious, cost-intensive and can tie up one’s assets for a long time.

The right strategy depends on the individual whose estate is being planned, the assets owned and how the individual owns it. Generally, a Will is used where someone has more than one relative and has no wishes for the court to decide what happens to his assets. A Trust can either be used to supplement a Will or to replace a Will. People with real estate assets will benefit greatly from creating Trusts because these assets will pass with ease to the beneficiaries.

Tax burden differs in different jurisdictions and states and is often a significant portion of the Estate. Taxes are usually imposed when the deceased has left a Will and the deceased’s Estate goes through the probate process. In contrast however, estate taxes can be completely avoided by putting one’s assets in a Trust.

Yes! When a Trust is created, the legal title to the property passes to the trustee and the beneficial interest remains with the creator of the Trust known as the Settlor. The extent to which the Settlor manages the Trust assets depends on the type of Trust that has been set up and the terms of that Trust.

Trusts can only be as successful as the trustees that manage them so picking the right trustees is crucial. Several factors like pedigree, experience, objectivity, continuity and prudence should be considered when selecting a trustee. A good trustee must be accountable and should always be ready to provide on-going communication with the creator of the Trust.

AVA Trustees has a team of seasoned professionals who are experts in drafting Wills and offering sound advice on Wills.

A trustee is obligated to carry out the Settlor’s intentions, according to the terms of the Trust. Although the trustee can delegate some of these duties, the trustee is still responsible for the administration of the Trust assets and must exercise caution when delegating duties to third parties.

Trustees have a fiduciary duty to the creator of the Trust and to the beneficiaries. Trustees also have a duty to take reasonable care and skill in every investment that they make. A trustee must not undertake any transaction that is adverse to any of the beneficiaries’ interest and is accountable to the Settlor and the beneficiaries of a Trust.