GTCO Plc acquires Investment One Funds Management Limited
Guaranty Trust Holding Company plc (GTCO Plc), the parent company of the Guaranty Trust Bank, has acquired 100% state in Investment One Funds Management Limited (IOFML), a subsidiary of Investment One.
This was contained in a corporate filling to The Nigerian Stock Exchange, informing the investing public of the completion of the acquisition of 100% shares in IOFML.
Investment One Funds Management Limited is a wholly owned subsidiary of Investment One Financial Services Limited and is licensed by Securities and Exchange Commission (SEC) to manage Mutual Funds/Collective investment Schemes.
IOFML also provides investment products that are tailored to meet the unique investment needs and goals of our clients which include retail and institutional investors.
IOFML currently acts as Fund Manager to three public mutual funds and several individual and corporate investment portfolios namely. Our mutual funds are; Vantage Guaranteed Income Fund, Vantage Balanced Fund and the Abacus Fund.IOFML has also been appointed as the Fund Manager to the Kedari Investment Fund.
Investment One Financial Services Limited is a diversified organisation that provides various financial and investment services all over Nigeria.Since founded in 2007 following the Central Bank of Nigeria’s initiated reforms in the banking industry, Investment One (then GTB Asset Management Limited) has offered and continues to offer innovative investment options coupled with value added services in Nigeria’s financial services space.
The company sells its mutual fund and pension subsidiaries to Guaranty Trust Holding Company Plc
Commenting on the acquisition, Group Chief Executive Officer of GTCO Plc, Segun Agbaje said, “We are excited about our foray into the wealth management space, as it provides us with the opportunity of becoming a one-stop shop for financial services and products that will empower our customers through the course of their lives. We will focus on replicating our digital-first customer-centric retail strategy to create distribution channels for wealth solutions that we will offer, to both institutional and retail clients”.
Furthermore, he added that, “As a dominant leader in financial services, we are positioned to add significant value to the asset management business in Nigeria and compete favourably with the largest global wealth managers in the areas of disclosure, corporate governance and regulatory compliance”.
According to the Group CEO, the acquisition of the new subsidiary will provide GTCO Plc the platform to provide technology-driven Funds and Investment Management Services designed to meet the unique investment needs of retail and corporate investors.
All regulatory approvals have been obtained for the acquisition and commencement of operations of the company.
