We're excited to announce a new partnership with FCMB Asset Management Limited! This partnership brings you access to professionally managed, SEC-registered investment funds designed to help you build wealth, preserve capital, and achieve your financial goals.
If you've been looking for trusted investment options in Nigeria, FCMB Asset Management has three diversified mutual funds now available for comparison on nairaCompare. Whether you want low-risk returns, long-term capital appreciation, or dollar investments to protect against naira devaluation, there's a fund for you.
Finding the right investment platform in Nigeria can be overwhelming. With so many asset managers and investment products claiming high returns, how do you know which ones are regulated, trustworthy, and aligned with your financial goals?
That's where nairaCompare comes in. We help you compare verified, SEC-registered investment options side by side so you can make informed decisions about where to invest your money.
FCMB Asset Management Limited brings over 25 years of proven investment expertise to the nairaCompare platform. As a subsidiary of CSL Stockbrokers, which is part of FCMB Group Plc (one of Nigeria's top 8 lenders), FCMB Asset Management is not just another fund manager. They're an A-rated, SEC-registered investment firm managing billions of naira across three distinct fund categories.
Established: 1997 (operations began in 2000 as First City Asset Management Limited)
Regulation: Registered with the Securities and Exchange Commission (SEC), Nigeria
Credit Ratings:
Parent Company: Wholly-owned subsidiary of CSL Stockbrokers Limited, which has operated for over 30 years as one of Nigeria's leading stockbroking firms
Group Affiliation: Part of FCMB Group Plc, a leading financial services institution and one of Nigeria's top eight lenders
Services: Professional investment management and advisory services for individual and institutional clients globally, with fund management solutions across asset classes, markets, and currencies
FCMB Asset Management's strong regulatory standing and credit ratings reflect their commitment to transparency, professional fund management, and protecting investor interests. This is exactly the kind of partner we look for at nairaCompare.
FCMB Asset Management offers three SEC-registered mutual funds, each designed for different investment goals, risk appetites, and time horizons. Here's what you can now access and compare on nairaCompare:
Best for: Low-risk investors seeking stable, predictable returns with easy access to their money
Fund Type: Naira-denominated money market fund
Minimum Investment: ₦1,000 (1,000 units)
Current Returns: 19.25% per annum (90-day average as of October 31, 2024)
Risk Level: Low
Launched: 2018
Fund Size: ₦39.5 billion
How It Works:
The Legacy Money Market Fund invests in short-term, low-risk money market instruments. These include Treasury Bills, commercial papers, and bankers' acceptances. Interest is earned daily, and dividends are paid quarterly. You can choose to receive dividends directly in your bank account or reinvest them to grow your investment faster.
This fund is ideal if you're looking to earn competitive returns without exposing your money to the volatility of the stock market. Whether you're saving for a short-term goal like rent or school fees, or building an emergency fund, the LMMF offers better returns than a regular savings account while keeping your capital safe.
Key Features:
Who Should Invest:
The Legacy Money Market Fund is perfect for conservative investors who prioritize capital preservation over aggressive growth. If you're a salary earner looking to park your emergency fund somewhere that earns better than a savings account, or a business owner managing short-term cash flow, this fund offers stability and liquidity.
Best for: Growth-focused investors seeking long-term capital appreciation through Nigerian stocks
Fund Type: Naira-denominated equity fund
Minimum Investment: 10,000 units at ₦5.48 per unit = ₦54,800
Risk Level: High to Medium
Benchmark: Nigerian Exchange All Share Index (NGX Index)
Launched: 2006
Fund Size: ₦2.7 billion
How It Works:
The Legacy Equity Fund invests primarily in carefully selected Nigerian stocks listed on the Nigerian Exchange (NGX). The fund is managed by experienced portfolio managers who actively track the market, identify undervalued stocks, and position the fund for long-term capital appreciation.
Unlike money market funds that offer steady, predictable returns, equity funds grow (or decline) based on stock market performance. Over the medium to long term (3-5 years or more), equity investments have historically outperformed fixed-income products like Treasury Bills and bonds, making them an excellent choice for wealth building.
Returns are generated through two sources: dividend income from the stocks held in the portfolio, and capital gains when stock prices rise. Dividends are paid quarterly and can be withdrawn to your bank account or reinvested.
Key Features:
Who Should Invest:
This fund is best suited for young professionals, business owners, and anyone with a medium to long-term investment horizon (5+ years). If you're building wealth for retirement, saving toward a property purchase, or investing for your children's future, the Legacy Equity Fund offers the growth potential needed to outpace inflation and build real wealth over time.
However, be prepared for short-term volatility. Stock prices fluctuate daily, and the value of your investment can go down as well as up. That's why this fund requires patience and a long-term mindset.
Best for: Investors seeking to preserve wealth in US Dollars and protect against naira devaluation
Fund Type: US Dollar-denominated bond fund
Minimum Investment: 1,000 units at $1.46 per unit = $1,460
Risk Level: Medium
Launched: 2007
Fund Size: $11 million
How It Works:
The Legacy USD Bond Fund invests in US Dollar-denominated bonds, providing stable income and capital preservation in foreign currency. This fund is particularly attractive for Nigerians looking to hedge against naira depreciation, save for foreign expenses (like school fees abroad or property purchases), or simply diversify their portfolio beyond naira-based assets.
All dividend income from this fund is paid in US Dollars, giving you direct access to foreign currency without the hassles of opening offshore accounts or dealing with forex restrictions. Returns are generated from bond coupon payments and are distributed quarterly.
Key Features:
Who Should Invest:
This fund is ideal for diaspora Nigerians, parents saving for children's international education, property investors looking abroad, and anyone concerned about naira devaluation. If you earn in naira but have future expenses in dollars (or want to protect your purchasing power), the Legacy USD Bond Fund offers a convenient, regulated way to save and invest in foreign currency.
Ready to start investing? Here's how to access FCMB Asset Management funds through nairaCompare:
Go to nairacompare.ng/investments to explore all available investment options in Nigeria.
Use nairaCompare's comparison tools to see how FCMB Asset Management funds stack up against other SEC-registered investment products. Compare returns, minimum investment amounts, risk levels, and processing times.
Based on your financial goals, risk tolerance, and investment timeline, select the FCMB Asset Management fund that best matches your needs:
Click through to FCMB Asset Management's digital onboarding platform. The application process is fully online and takes just a few minutes to complete.
You'll need:
Once your application is approved, transfer your investment amount to the designated fund account. FCMB Asset Management uses separate bank accounts for each fund to ensure transparency and proper fund management.
Your investment will be confirmed within 24 hours (for the Money Market Fund) to 3-5 working days (for the USD Bond Fund). You'll receive an investment letter confirming your units and start earning returns immediately.
Don't settle for the first investment product you find. nairaCompare lets you compare multiple SEC-registered funds side-by-side, so you can see which offers the best returns, lowest fees, and most suitable risk profile for your needs.
Every investment product on nairaCompare is vetted for regulatory compliance. We only feature SEC-registered fund managers and investment products, so you can invest with confidence knowing your money is protected by Nigerian law.
We believe in full transparency. That's why we provide detailed information on minimum investments, returns, fees, risk levels, and fund performance.so you have everything you need to make an informed decision.
nairaCompare is a free comparison platform. We don't charge you to compare funds or access investment information. When you invest through our partner links, you get the same rates and terms you'd get by going directly to the provider.no markups, no hidden costs.
1. Is FCMB Asset Management regulated?
Yes. FCMB Asset Management Limited is registered with the Securities and Exchange Commission (SEC), Nigeria. All three funds.Legacy Money Market Fund, Legacy Equity Fund, and Legacy USD Bond Fund.are also registered with SEC.
2. What are the minimum investment amounts?
3. How do I earn returns?
Returns are earned through interest (for the Money Market Fund) or dividends and capital gains (for Equity and Bond funds). Dividends are paid quarterly and can be withdrawn to your bank account or reinvested to compound your returns.
4. Can I withdraw my money anytime?
Yes, but each fund has a minimum holding period:
Early withdrawal before the minimum holding period may attract a penalty of 25% on accrued interest.
5. Is my investment insured?
Mutual funds are not covered by NDIC insurance. However, FCMB Asset Management is a regulated, SEC-registered fund manager with strong credit ratings. Your investments are held in trust by independent custodians (United Capital Trustees for the Money Market Fund, UBA Nominee/PHB Capital & Trust for the Equity Fund), providing an additional layer of protection.
6. How long does it take to process my investment?
7. Can diaspora Nigerians invest?
Yes! All three FCMB Asset Management funds are available to both Nigerian residents and international investors. The USD Bond Fund is particularly popular among diaspora Nigerians looking to invest in Nigeria while keeping their funds in dollars.
8. What fees does FCMB Asset Management charge?
FCMB Asset Management charges a management fee of 1% annually (0.01 as stated in the documents). This fee covers professional fund management, regulatory compliance, and administrative costs. All fees are deducted from the fund's returns before dividends are paid, so you don't have to worry about separate billing.
9. Can I add more money to my investment later?
Yes! All three funds allow top-ups:
10. How do I track my investment performance?
FCMB Asset Management provides regular statements showing your unit balance, current unit price, and total investment value. You can also log into your investor portal to track performance in real-time.
Not sure which FCMB Asset Management fund is right for you? Here's a quick guide based on common financial goals:
Choose: Legacy Money Market Fund
Why: Low risk, high liquidity, and competitive returns make it perfect for money you might need in 3-12 months.
Choose: Legacy Equity Fund
Why: Long-term stock market growth historically outpaces inflation. With 10+ years to ride out market volatility, equities offer the best chance to build substantial wealth.
Choose: Legacy USD Bond Fund
Why: Saving in dollars protects you from naira devaluation and ensures your money maintains its value when you need to pay tuition or other foreign expenses.
Choose: Combination strategy
Why: Consider splitting your investments:
Choose: Legacy Money Market Fund
Why: Keep your business reserves earning better-than-savings-account returns while maintaining easy access for operational expenses.
One of the most important investment principles is understanding the relationship between risk and return. Generally, investments with higher potential returns come with higher risk, while lower-risk investments offer more modest returns.
Low Risk = Lower Returns (but More Predictable)
The Legacy Money Market Fund sits at the low-risk end of the spectrum. You won't see dramatic gains, but you also won't experience significant losses. Your capital is protected, and returns are steady (currently around 19.25% annually). This predictability makes it ideal for short-term goals and emergency funds.
Medium to High Risk = Higher Returns (but Less Predictable)
The Legacy Equity Fund is in the higher-risk category. Stock prices go up and down daily based on company performance, economic conditions, and market sentiment. Some years, your investment might grow 30-40%. Other years, it might decline 10-15%. But over 5-10 years, equity investments have historically delivered better returns than fixed-income products. This makes them excellent for wealth building.
Dollar Funds = Currency Risk Consideration
The Legacy USD Bond Fund works differently. While the fund itself invests in relatively stable bonds, your returns in naira depend on exchange rates. If the naira strengthens against the dollar, your naira-equivalent returns might be lower. But if the naira weakens (which has been the trend), your returns in naira terms increase significantly.
Smart investors don't choose just one investment type. They spread their money across multiple asset classes to balance risk and return. FCMB Asset Management's three funds make it easy to build a diversified portfolio.
Sample Portfolio for a 30-Year-Old Professional Earning ₦300,000 Monthly:
Here's how you might split ₦1.25 million across all three funds:
This allocation balances safety (through the money market fund), growth (through equities), and currency protection (through dollar bonds).
With dozens of asset managers operating in Nigeria, what sets FCMB Asset Management apart?
FCMB Asset Management has been operating since 2000 (established as First City Asset Management in 1997). They've weathered multiple economic cycles, regulatory changes, and market downturns. Today, they manage over ₦42 billion across three funds. This growth speaks to consistent performance and investor trust.
FCMB Asset Management is a wholly-owned subsidiary of CSL Stockbrokers, which is part of FCMB Group Plc. This means they benefit from the financial strength, infrastructure, and reputation of one of Nigeria's most established financial services groups. This backing provides extra assurance that your investments are managed by a stable, well-funded institution.
Unlike many asset managers that operate without third-party validation, FCMB Asset Management holds ratings from two independent credit rating agencies:
These ratings are based on rigorous assessments of the company's financial strength, management quality, operational processes, and risk management practices.
All three FCMB Asset Management funds use independent custodians to hold investor assets. For example, United Capital Trustees holds the Money Market Fund assets, while UBA Nominee/PHB Capital & Trust holds the Equity Fund assets. This separation between fund management and asset custody means FCMB Asset Management cannot misuse investor funds. It's an extra layer of protection beyond SEC regulation.
FCMB Asset Management has fully embraced digital transformation. They offer seamless online onboarding, digital signature options, and fast processing times. You don't need to visit a physical office to start investing. Everything can be done online in minutes.
Whether you're just starting your investment journey or you're an experienced investor looking to diversify, FCMB Asset Management offers three distinct paths to building wealth in Nigeria.
The partnership between nairaCompare and FCMB Asset Management makes it easier than ever to compare investment options, understand your choices, and start building wealth with confidence. Don't let your money sit idle in a regular savings account earning minimal interest. Don't let inflation erode your purchasing power. And don't let the complexity of investing stop you from taking action.
Ready to compare and invest? Visit our website today to explore FCMB Asset Management funds alongside other top investment options in Nigeria. Your future self will thank you!
This article is for informational purposes only and does not constitute financial advice. All investments carry risk, including the potential loss of principal. Past performance is not indicative of future results. The returns mentioned are current as of the date of publication and may change over time. Please verify all details with FCMB Asset Management Limited before making investment decisions.