The Nigerian Exchange Limited has recently added the AVA Infrastructure Series 1 Fund, worth N4.08 billion, to its trading platform. This closed-end fund and naira-denominated unit trust scheme comprises 4,075 units and has been listed on the Main Board of NGX at a price of N1 million each.
The listing, under AVA Global Asset Managers Limited, is part of a larger N200 billion issuance program. AVA Capital Partners Limited serves as the issuing house, STL Trustees Limited as the trustee, United Bank of Africa as the custodian, and Cordros Registrars Limited as the registrar.
The AVA Infrastructure Series 1 Fund, announced by AVA Global Asset Managers in January 2024 and closed in March 2024, aims to strategically distribute private financing for infrastructure projects. Managing Director Efe Shaire stated that the fund’s objective is to provide steady and predictable cash flows from these projects in the future.
Source: PUNCH