This Day (Lagos)

Nigeria: DLM to Float Mutual Fund Next Year

Investors looking for alternative investment outlets to spread their risks and enjoy good returns have cause to smile as a leading investment bank Dunn Loren Merrified (DLM) prepares to float a mutual fund in the capital market early next year.

The Chief Executive Officer of DLM, Mr. Sonnie Babatunde Ayere, who disclosed this in an interview with THISDAY last Friday in Lagos, said the fund would be one of the best managed in the country.

He, however, declined to give details. According to the necessary processes are being done and regulatory approval sought, noting that once the necessary approvals have been received further details would be unveiled.

DLM, which is behind most of the corporate bond issues in the Nigerian capital market, early this year emerged as the Best Debt House 2011 at the ninth Nigerian Investment Banking League Awards in recognition of its contribution to domestic financial markets.

DLM beat well-established Nigerian investment banks such as FBN Capital, Stanbic IBTC, UBA Capital, FCMB and Chapel Hill Denham, to win the coveted award.

The award had confirmed the growing status of DLM as an investment bank of repute in Nigeria.

Reacting to the award, Ayere had said "the well-earned laurel bestowed upon our young firm is a truly remarkable achievement.

This further proves that the quality, the drive, the vision and most important, the dedication of the DLM team will never waver and the potentials that lie ahead of us will be achieved collectively."

Ayere also noted that when bright minds pursue lofty ideals underpinned by innovation, excellence, performance and results, the word 'impossible' does not exist.

"It is this morale boost that would enable DLM cross many more milestones and this worthy award can be used as a springboard to reaching greater heights in the years ahead," he said.

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