Chapel Hill Denham converts Equity Fund to Money Market Fund (Nigeria)


By Onome Ohwovoriole | Nairametrics January 6, 2017

Chapel Hill Denham will hold an Extra Ordinary General Meeting (EGM) on Thursday 26th of January 2017.

The primary agenda will be the conversion of its equity fund Nigeria Global Investment Fund (NGIF) into a money market fund. Tough economic conditions have led to the federal government ramping up borrowing.

Thus leading to a jump in money market rates. Nigerian equity market been bearish for the second year running, closing 2016 at -6.17%. Year to date return is -2.47% as at yesterday. Chapel Hill Denham is a leading investment banking, securities trading and investment management firm.

The firm has handled various landmark transactions including consulting for the CBN as well as being involved in the setting up of Asset Company Of Nigeria (AMCON).

Related stories


AsokoNews Brief

Sign up for our weekly Africa Business Digest, highlighting the Top 5 stories per sector