AIICO MONEY MARKET FUND NEWSLETTER – JUNE 2021

Overview

AIICO Money Market fund is an open-ended collective investment vehicles that pools investment monies from various individuals, Corporate organizations and High Networth Clients(HNC) for the purpose of investing in money market securities, designed to produce short to medium term growth, income or a combination of the two.

Fund Performance

For the month of June, average OBB and ON rates closed the month at an average of 16.71% and 17.19% from 15.31% and 15.88% in May. Inter-bank system liquidity averaged ca. N54.12bn for the month under review due to meagre OMO maturities and bonds coupon payments, thereby allowing for modest banking system liquidity. Average Nigeria Treasury bills rate for the 91-day tenor in the primary market was maintained at 2.50%.

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