CFS Group has recently launched a wholly-owned and new asset management subsidiary CITITRUST Asset Management. The launch of the asset management subsidiary came after an approval from the Securities and Exchange Commission to provide portfolio management to clients, media reports said.
The clients include corporations and institutional investors, including wealth management, investors and other financial services.
The Country Chief Executive of CFS Group Mr. Ikechukwu Peter, told the media, “The launch of the Asset Management business ties in with our plan to become a dominant player in the Financial Services sector. We are enthusiastic at the unique opportunity to bring investment products to the market as our goal is to constantly provide a wide range of solutions to support the evolving needs of our partners and the entire investment community.
“The issuance of this approval by the Securities and Exchange Commission is a laudable development, one that will most definitely lead to an unprecedented basis for value creation within the Asset Management Space.”
With the launch, the company will support African businesses and tap into the market’s potential through various investment funds, in addition to financial advisory services for clients. The primary focus is to invest in the wealth of the company’s clients through its range of sophisticated products.