Nigerian fund managers shifted focus away
from equities in favour of money market instruments in their allocation of over
N11billion in Balanced Funds assets, BusinessDay checks have shown.
Balanced Fund is a class of Collective
Investment Scheme (CIS) which combines a stock component, a bond component and,
sometimes, a money market component, in a single portfolio. The hybrid fund
sticks to a relatively fixed mix of stocks and bonds that reflects either a
moderate or conservative orientation.
Analysis of the fund managers’ monthly
investment schedule breakdown for June 2015 showed that the recorded bearish
nature of the market, along
