Fund investing has to do with investing money in a particular business or scheme along with other investors. It can be viewed as a group investment in which multiple persons contribute money and the profit or returns is shared.
To launch a successful fund investment, you’ll need the services of a fund manager. The fund manager will be in charge of developing the investment strategy, prep the portfolio, and more. All to ensure that the investment is a successful one.
In Nigeria, there are several fund managers and if you’re looking for one, you can check with the Fund Managers Association of Nigeria (FMAN). Here, we’ll be running an overview of the company.
About Fund Managers Association of Nigeria
A lot of top professions in Nigeria have organizations. This is to ensure professionals are connected, views are shared, and most importantly, they offer services in accordance. The same is for the Fund Managers Association of Nigeria. As you can decipher already, it is an association of Nigerian fund managers.
The body has been in operation for a long time as it was established in 2009. It is an independent association, not affiliated with the Nigerian government or any political parties. The affairs of the association are run by in-house executives and it was established for non-profit purposes.
The aim of the association is to encourage the activities of Nigerian fund managers with self-regulation policies. It acts as a general supervisor for these fund managers, ensuring that they follow best practices.
The association has its headquarters at 52 Ahmadu Bello Way, Lagos State.
How to join FMAN
If you’re a fund manager, individual, or agency, interested in joining the association, it’s easy. You just have to fill and submit the membership application form.
However, there is a criterion to meet if your application will be accepted. You have to be duly licensed as a fund manager or portfolio manager in Nigeria by the SEC.
If you’re an agency or company and your application gets accepted, you’ll pick an individual to represent you in the association. This individual will take binding decisions on your behalf.
Aside from fund and portfolio managers, you can register with FMAN if you’re a venture capital or equity firm. You just need to own an SEC license.
Is FMAN Legal?
For an association that is independent of any governmental or political influence, one might wonder if they operate legally. Well, FMAN is registered with the Securities and Exchange Commission (SEC) of Nigeria. Consequently, they have the legal backing to fully operate in the country.
If you’re a professional fund manager in Nigeria, you should endeavor to join the Fund Managers Association of Nigeria. The association is registered with the SEC so it’s safe to associate yourself with them. There’ll be a lot to benefit as you can meet with other professional fund managers.
On the other hand, if you’re a business looking for ideal fund managers to coordinate your fund investment, you can contact the association and get the best.