Kakawa launches Nigeria's first public minimum guarantee fund

Kakawa Discount House subsidiary Kakawa Asset Management has launched what is reported to be Nigeria’s first publicly-offered mutual fund with a minimum return guarantee. Investors in Kakawa Guaranteed Income Fund are guaranteed a baseline benchmarked against the Monetary Policy Rate of the Central Bank of Nigeria, currently 14%, with upside potential.The manager has received Stock Exchange Commission approval to offer 1bn units of NGN1.00 each ($8m in total). While the structure of the fund re