TheCable

PAC Asset Management Limited (PACAM), a subsidiary of PanAfrican Capital Holdings, has been named the best equity fund in Nigeria at the 2021 Global Banking and Finance Awards.

PACAM Equity Fund is a pure equity fund that invests funds predominantly in a portfolio of Nigerian companies, using a rigorous research-based system.

The Global Banking and Finance Awards, launched in 2011 by UK-based Global Banking and Finance Review magazine, is presented annually and it reflects the innovative, progressive, and inspirational changes taking place within the global financial sector, including banking, corporate finance, Islamic finance, inward investment, tax and accounting, asset management, mergers and acquisitions (M&A).

It recognises notable changes happening in the global financing community and reflect the innovative, progressive, and inspirational changes taking place within the global financial sector.

The award recognised the growth and performance of PAC Asset’s equity fund on the back of its excellent performance in 2020.

Commenting on the new award, Dele Ige, managing director of PAC Assets Management, said this is a welcomed feedback, adding that “we look forward to the continued sterling performance of this and our other funds.”

The asset management firm was also recognised as one of the best performing mutual funds in 2020 by Nairalytics Data, the research arm of Nairametrics that tracks, collates, maintains, and manages a rich database of macro-economic and microeconomic data from Nigeria and Africa.

Nairametrics said that “the Fund grew by 55.6% in 2020. The performance is impressive considering that it is purely focused on Equity, which reflects the performance recorded in the equities market of the NSE in 2020. The net asset value grew by 41.1% from N204.9 million recorded in 2019 to N289.2 million in 2020.”