RT Briscoe Launches Recapitalisation Fund for Institutional Investors

RT Briscoe Nigeria Plc has launched the “R.T. Briscoe Savings and Investment Fund”. The fund is the first to allow investors to save within a regulated vehicle towards investing into the capital of a target company.

The recapitalisation fund is aimed at providing liquidity for individuals and institutional investors following the approval of Securities and Exchange Commission (SEC).

This announcement is coming following approvals from the Securities and Exchange Commission (SEC) even as the company described the milestone as a significant step in RT Briscoe’s commitment to providing innovative opportunities to its existing and potential shareholders to invest in the company with a savings plan.

RT Briscoe in a statement to LEADERSHIP noted that the recapitalisation funds will ensure that investors can own a stake in R.T. Briscoe Nigeria PLC through a saving plan (monthly or otherwise) towards their target investment amount in the company.

This will make it much easier and very accessible to a broader range of investors who may not have the one-off capital to invest at once but, instead would be able to save towards it over a period of time.

According to the statement, The R.T. Briscoe Savings and Investment Fund is an open-ended money market fund with the primary objective being to offer unitholders a steady stream of income whilst they save towards their target investment in the company and also provide the investor with capital preservation at the point of the conversion into ordinary shares of R.T, Briscoe.

The company also stressed that by investing the pooled funds into a diversified portfolio of high-quality money market instruments, the fund ensures low risk and competitive returns. Essentially, this is a save-to-invest in your company, R.T. Briscoe.

The fund is professionally managed by DLM Asset Management Limited who recently won the best Asset Management company of the year at the African Industrial and Development Conference and Awards.

This accolade underscores their commitment to ensuring expert oversight and strategic investment decisions. First City Monument Bank Limited serves as the custodian, while UTL Trust Management Services acts as the trustee, providing additional security and transparency.

With a minimum subscription of 10 units at N1,000 per unit, the fund is accessible with a minimum investment of N10,000. The fund comprises 1,000,000 units available for subscription, providing many opportunities for investors.

Additionally, the fund offers liquidity, allowing easy access to investments and the final option to convert the investor’s holdings into equity ownership in R.T. Briscoe Nigeria PLC.

Speaking at the launch, Group managing director and chief executive of RT Briscoe Nigeria Plc, Seyi Onajide expressed his enthusiasm about the launch: “We are thrilled to introduce the R.T. Briscoe Savings and Investment Fund, demonstrating our dedication to providing reliable and accessible investment opportunities that empower all investors to achieve their investment goals in our company with ease.

He said this launch underscores our commitment to innovation and growth, offering clients an opportunity to save and own a part of R.T. Briscoe Nigeria PLC. We believe this fund will not only ultimately enhance our capital position, but also reinforce our leadership across our diverse businesses, including Automobile, Industrial Air Compressor, Material Handling, Industrial Equipment, Power, and Real Estate.

Also speaking, MD of DLM Asset Management, Ugonnaya Osi commented on the RT Briscoe Nigeria Plc fund, emphasising, “With the expertise of DLM Asset Management Limited and the unwavering support of our trusted partners, we are confident that the RT Briscoe Fund will deliver significant value to our investors and the company.

As stewards of the RT Briscoe Fund, our commitment extends beyond mere management; we aim to maximise returns and foster sustained financial growth through meticulous oversight and strategic foresight.

This dedication ensures that every investment decision is informed by a deep understanding of market dynamics and investor needs, reinforcing our pledge to deliver excellence in financial management,” she added.