Following the receipt of approval from the Securities and Exchange Commission, CFS Group, a subsidiary of Cititrust Holdings Plc has launched Cititrust Asset Management Limited.
Cititrust Asset Management Limited will provide portfolio management to corporations and institutional investors as well as wealth management, structured investments and other financial advisory services.
The company in a statement announced that pursuant of the fund/portfolio manager license granted to Cititrust Asset Management Limited on August 31, 2020 in terms of the Investment & Securities Act (ISA) No. 29 of 2007, the company will conduct capital market transactions.
The Country Chief Executive of CFS, Ikechukwu Peter, said the launch of the Asset Management business ties in with the companies plan to become a dominant player in the Financial Services sector.
“The issuance of this approval by the Securities and Exchange Commission is a laudable development, one that will most definitely lead to an unprecedented basis for value creation within the Asset Management Space,” Peter said.
Speaking on the vision for Cititrust Asset Management Limited (“CAML”), the Group Chief Executive of Cititrust Holdings Plc., Mr. Yemi Adefisan said they intend to support African businesses and unlock the continent’s potentials through the management of several investment funds and provision of financial advisory services.