VGI Frequently Asked Questions
What is VANTAGE GUARANTEED INCOME FUND?
VANTAGE GUARANTEED INCOME FUND (VGIF) is an open-ended collective investment scheme which pools investment into a wide range of Fixed Income Securities especially very liquid short term money market instruments and government treasuries
Who is a Fund Manager?
A Fund Manager is one who is entrusted with the responsibility of monitoring and determining the best options for investment in accordance with the Security and Exchange Commission’s approved investment policy specified in the Trust Deed and the prospec
What are the objectives of the Fund?
The fund invests in a well-diversified portfolio of Fixed Income Securities, short term money market instruments and government bonds as well as placements with rated financial institutions in Nigeria as well as equities.
What is the guaranteed return for the VANTAGE GUARANTEED INCOME FUND?
The guaranteed return of the fund is referenced to the Central Bank of Nigeria (CBN)’s Standing Deposit Facility (SDF). The SDF is the lower limit of the asymmetric corridor around the MPR
What are the advantages of investing in the VANTAGE GUARANTEED INCOME FUND?
There are many advantages of investing in the Fund which include:
- Flexibility: Subscribers can buy into the fund or redeem either part or their total units in the fund at any time irrespective of the 6-month fixed tenor.
- Capital Preservation: Principal is secured and interest is guaranteed up to the SDF rate.
- Regular Income Stream: The fund pays dividend twice yearly (in January and July)
- Additional Income: In addition to the guaranteed return, unit holders can also earn an additional interest pay-out equivalent to 35% of the fund’s excess return above the benchmark Guaranteed Return (SDF); typically referred to as profit-sharing.
- Expertise: VGIF is managed professionally by Investment One Funds Management Limited (a subsidiary of Investment One Financial Services Limited) and the following are parties to the fund:
|1||First Registrars & Investor Services Limited||Registrars to the Fund|
|2||FBN Trustees Limited||Trustees to the Fund|
|3||Stanbic Ibtc Nominees Limited||Custodian of the Fund|
Who are the Trustees of VGIF and what are their functions?
FBN Trustees Limited, a subsidiary of First Bank of Nigeria Holding Plc. is the trustee to the Fund. The Trustee’s duties include ensuring that the Fund manager carries out its duties in line with the Trust Deed and rules and regulations of SEC thereby protecting the interest of the unit holders.
Who are the Registrars to the Fund?
First Registrars & Investor Services Limited is the registrar to the Fund and they maintain the register of the unit holders
Who can invest in VGIF?
VGIF is open to Individuals, corporate organizations, schools, societies, cooperatives, government agencies, non-governmental agencies, clubs and religious organizations, etc
Where are we located?
|LAGOS||10, Olaide Benson Street, After Conoil on Ikorodu Road, Maryland, Lagos|
|ABUJA||871, Tafawa Balewa Street, Opp.Nicon Luxury Hotel, Abuja|
|PORT HARCOURT||21, Woji Road, off Olu Obasanjo Road, GRA, Port Harcourt, Rivers State|
|KWARA||Kwara Hotel Premises, 9A, Ahmadu Bello Way, GRA, Ilorin, Kwara|
How do I pay for a subscription to VANTAGE GUARANTEED INCOME FUND?
Units can be purchased directly from the Fund Manager. Completed subscription forms should be returned with a bank draft or cheque to any of the above mentioned offices:
The Bank draft or cheque must be crossed and issued in favour of “FTNL/VANTAGE GUARANTEED INCOME FUND” and the name, and telephone number of the applicant written at the back of the bank draft or cheque. Also an electronic transfer can be made into the Fund’s bank account using the following details:
|Bank Name||STANBIC IBTC Bank Plc|
|Account Name||FTNL/VANTAGE GUARANTEED INCOME FUND|
|Depositors Name||The Name of applicant|
How do I redeem my investment?
You can redeem all or part of the units held on any Business day. The redemption is processed within 3 – 5 working days. Investors will be required to submit a redemption form and the relevant certificate(s) / fund statement(s) to the Fund Manager.
Are there any penalty for redemption?
No additional charges will be incurred on redemption, only units redeemed before the maturity tenor of 6months will attract 10% of the interest accrued on the investment.
What is the minimum amount that can be invested in VGIF?
The minimum initial amount is Fifty Thousand Naira Only (N50,000.00).
How do I make additional subscriptions and minimum of how much can be added to my investment?
To make additional subscriptions, make payments into the account stated above and any amount in multiples of N1.00 can be added to your investment at any time.
Do I get an evidence of investment?
Each subscriber is issued a Fund Statement for every investment made. The Certificate or Fund Statement is required upon redemption of investment; it serves as an evidence of your investment in the Fund. The Certificate/Fund Statement will be sent via mail to the investor or can be picked up at any of the offices referenced above.
How do I monitor my investment?
Investor can view their account online or contact the Fund Manager on any working day to request for his/her statement which shows the total number of units and the interest earned so far on the investment.
How much will a unit of VGIF cost?
The offer price of VGIF is One Naira Only (N1:00)
Does the VGIF pay dividends?
VGIF pays dividend to its investors twice yearly (January & July). Unit holders have the option of being paid or re-investing the dividend in the fund to increase their holding.
How can I get my dividend paid to me?
Investors are to complete the e-dividend form for transfer of dividend directly into their bank account otherwise dividend warrant will be printed by the Registrars and can be picked up at the Fund Manager’s office.
For further clarification or additional information relating to VANTAGE GUARANTEED INCOME FUND (VGIF), kindly send an email to: firstname.lastname@example.org and we will contact you within 24 hours or call on: 01-448 8888, 01-448 0848.