Parthian Capital Limited has unveiled two investment funds, which it said would contribute to driving the $1tn economic vision of President Bola Tinubu.
The two investment funds of the asset management division of the Parthian Group, the Parthian Money Market Fund and the Parthian Dollar Fixed Income Fund, were unveiled at an event held in Lagos recently.
Tinubu has set a target of Nigeria becoming a N1tn economy by the end of this decade, and a lot of government agencies have put in place mechanisms and initiatives to achieve the target.
Speaking at the launch of the products, its Group Managing Director, Oluseye Olusoga, underscored the crucial role of the capital market in Nigeria’s economic development.
“The capital market is the backbone of Nigeria’s economy. Our new funds are engineered to create long-term value and protect wealth for a diverse range of investors, retail, high-net-worth, and institutional alike. With these funds, we are providing the financial tools that will drive sustainable growth,” he said.
The chairman of Parthian Group, Adedotun Sulaiman, also reiterated the essential role of investments in economic development and especially driving the $1tn economic goal of the government.
He said, “What we’re trying to do today is the context of what the country is all about. I don’t know how many of you probably know it, but capital is the oxygen of the economy, and without capital, we can’t go very far. I will say that there are no underdeveloped economies or countries; what you have are undercapitalised countries/economies. I think Nigeria is a classic case of an undercapitalised economy.
We simply don’t have the capital that you require to do all the things we need to do.
“We’ve been struggling with development for many, many years, and part of the reasons, among several other resources, is the paucity of capital. And that is what Parthian Capital is out to try and contribute to addressing it. Many of you will recall that in the early years of this administration, the President said that he would like the Nigerian economy to be a $1tn economy by the end of 2030. Now that is not only an ambitious plan, it’s an audacious plan, but we believe it’s doable. And basically, what we are here to do is our modest contribution to that effort, to mobilise the capital that’s going to be required to transform Nigeria into a trillion-dollar economy.”
He added that the major beneficiaries of hitting the $1tn economy will be Nigerians.
In her comments, the Acting Managing Director of Parthian Capital Limited, Ms. Ibilola Ashcroft, expressed excitement about the new offerings, saying, “We are thrilled to introduce our investment funds to the market. Each fund is meticulously structured to provide secure, dependable, and diversified investment solutions that align with our clients’ financial aspirations. The Parthian Money Market Fund is designed to offer competitive returns while minimising risk, allowing investors to optimise their portfolios without compromising on safety. Our team is dedicated to delivering personalised strategies that empower our clients to reach their financial goals,” Ashcroft stated.
The Parthian Money Market Fund is a low-risk, open-ended investment vehicle focused on capital preservation and steady income generation, while the Parthian Dollar Fixed Income Fund enables investors to diversify their portfolios with dollar-denominated securities, serving as an effective hedge against naira depreciation while providing attractive returns.
