Home » Annual Reports » FBN Heritage Fund Annual Report
June 8, 2017

FBN Heritage Fund Annual Report and Financial Statements 2016

The Heritage Fund closed the financial year ended 31 March 2016 with a NAV/share of 106.69. Following the end of the Fund’s year, the Fund Manager declared a distribution of 4 per unit, rewarding shareholders based on the performance during the financial year. On a total return basis, the Fund appreciated by 1.0% over the full year which ended March 2016. The equity market declined 20.3% over the same period, while the Fund’s composite benchmark fell 5.5% over the 12 months to March 2016. The underweight position in equities during the year relative to the benchmark was the main driver of the Fund’s outperformance.  On the macro front, Nigeria still faces a myriad of challenges in the near to medium term. Although, oil prices have been somewhat helped in recent...

Read more >
April 14, 2014

FBN Heritage Fund Annual Report and Financial Statements 2014

The Heritage Fund closed the financial year ended 31 March 2014 with a NAV/share of N110.46. During the year, the...

Read more >
×
Message. Learn more