Coronation Asset Management has called for a harmonised reporting standard for mutual funds in Nigeria.
Speaking at the virtual media presentation of the report, Guy Czartoryski, Head of Coronation Research, said: “In our view, Nigeria’s diverse measures stand in the way of the development of the industry.“Although it is growing rapidly, we believe that Nigeria’s Mutual Fund industry requires several more years of growth to reach the N12.3 trillion total size of Nigeria’s Pension Funds”.
This can mean that Unit Prices are volatile when interest rates change and bond prices rise and fall. This happened in 2020 and is happening in 2021. Other funds use Amortised Cost Accounting, which smoothes out the price performance of a fund. Some use a mixture.
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