UBA mutual funds reward unit holders with dividends

Threemutual funds being managed by United Bank for Africa Asset Management Limited posted appreciable returns to unit holders at the end of the year ended March 31, 2011, according to the fund managers.The UBA mutual funds comprises UBA Balanced Fund; UBA Money Market Fund; UBA Bond Fund and UBA Equity Fund. Specifically, unit holders present at the fourth Annual General Meeting of the mutual funds unanimously approved the payment of 10 kobo, 10 kobo and eight kobo dividends for UBA Balanced Fund, UBA Bond Fund and UBA Money Market Fund proposed by the fund manager respectively.The Managing Director, UBA Asset Management Limited, Mr. Haruna Jalo-Waziri, while speaking on the performance of the funds, said that the UBA mutual funds would continue to provide shareholders with good return on investment as the fund mangers were gearing up for the challenges posed by the present economic climate.We are optimistic that investors will have good reason to continue to put their funds in our portfolio given the fact that UBA mutual fund will always ensure good returns to investors, he added.He predicted that in the coming years, the funds would bring good returns to investors, adding that, the company has a good investment team that is involved in conducting researches into the market to ensure that investors funds were invested in equities that guaranteed long-term returns to investors.A unit holder of the funds, Mr. Remi Olatubode, representing Christ Crusade investment Limited, commended the proposed dividend payout, saying that it was a very good decision, especially in this time of economic downturn.
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