(Business in Cameroon) – Investment banker Africa Bright, which recently obtained an asset management license from the Central African financial watchdog, COSUMAF, announces the launch of two mutual funds on the Central African financial market. The funds will be managed by its asset management arm Africa Bright Asset Management (Abam).
“The mutual funds are incorporated for a term of 99 years. Their central depository is the United Bank for Africa (UBA) Cameroon (…) and the statutory auditor is Deloitte & Touche Cameroon,” the investment banker indicates.
Baptized FCP AB Cash and FCP AB Invest, the two funds were approved by the COSUMAF as Undertakings for Collective Investment in Transferable Securities (UCITS) funds, which pools investors’ funds into diversified instruments to minimize risks. Hence, investors can invest small amounts into those funds, which will be managed by professionals. The funds are somehow Africa Bright’s way of encouraging the population to invest in financial markets in an environment where most people are uninterested in those markets.