FCMB Asset Management Limited (FCMBAM), the asset management subsidiary of FCMB Group Plc, has received approval from the Securities and Exchange Commission (SEC) to implement supplemental Trust Deeds covering its mutual funds. The approval follows unitholders’ meetings in which investors across the affected funds voted in support of the proposed adjustments, which include changes to fund names and a reduction in minimum subscription units.
The company said the development forms part of a broader brand consolidation effort aimed at aligning its product offerings with the FCMBAM identity, which it describes as being associated with disciplined, transparent, and internationally benchmarked asset management practices in Nigeria.
Under the approved changes, the former “Legacy” funds have been officially renamed as follows: Legacy Money Market Fund is now FCMBAM Money Market Fund; Legacy Debt Fund becomes FCMBAM Debt Fund; Legacy Equity Fund is now FCMBAM Equity Fund; and Legacy USD Bond Fund has been renamed FCMBAM USD Bond Fund.
In addition to the rebranding, FCMBAM has revised minimum subscription requirements for selected funds. The FCMBAM Debt Fund has been reduced from 25,000 units to 1,000 units, while the FCMBAM Equity Fund has been lowered from 10,000 units to 1,000 units. The FCMBAM USD Bond Fund has also been reduced from 1,000 units to 100 units, a move positioned to expand access to dollar-denominated investments for retail investors. The FCMBAM Money Market Fund remains unchanged at a minimum subscription of 1,000 units.
FCMBAM’s Chief Executive Officer, James Ilori, described the development as more than a rebranding exercise, stating that it reflects the company’s intention to democratise access to professional investment management services and promote inclusive and sustainable growth. He also expressed appreciation to unitholders for their support throughout the approval process and reaffirmed the firm’s commitment to delivering improved outcomes under its refreshed identity.
The company confirmed that all existing investment positions, account records, and fund documentation will be updated to reflect the new names. It added that unitholders are not required to take any action, and that the changes will not affect the safety or value of existing investments. Further enquiries may be directed to FCMB Asset Management Limited through its official contact channels.
FCMB Asset Management Limited, established in 1997, is a wholly owned subsidiary of CSL Stockbrokers Limited under FCMB Group Plc. The firm is licensed by the SEC in Nigeria and manages multiple collective investment schemes, including Nigeria’s first local-currency Private Debt Fund, while also offering discretionary and non-discretionary portfolio management services.
