Guaranty Trust Fund Managers Limited, the asset management subsidiary of Guaranty Trust Holding Company Plc, on Tuesday, announced the launch of the Guaranty Trust Investment Fund 724, an open-ended, naira-denominated Unit Trust Scheme duly authorised and registered by the Securities and Exchange Commission, Nigeria (SEC).

According to a press release, “the scheme lists 10,000,000 Units of N100.00 each in the Fund by way of Offer for Subscription and aims to distribute the capital growth it generates from a diversified portfolio of money market instruments, including fixed deposits, commercial papers, Nigerian Treasury Bills, and other shortterm instruments to subscribers of the scheme.

“With a minimum subscription of N1,000.00 (one thousand naira only), Fund 724 offers every Nigerian an opportunity to earn more on their savings along with the flexibility of easy access and withdrawals. The scheme will track 91-day average Nigerian Treasury Bills’ yield of the preceding month.” The statement added that the Fund 724 opened for applications on September 30, 2024.

Speaking on the launch of the Fund, Josephine Essien, Executive Director and Chief Investment Officer of GTFM Limited, said: “We are very excited to bring a retail product that empowers the everyday Nigerian to compound the growth of their savings, whilst retaining the flexibility of withdrawals to meet their everyday needs.