Here’s what this article about investing in a dollar mutual fund covers:
- What is the Nigerian Eurobond fund?
- How do you receive returns from your dollar mutual fund investment?
- How to set up a Nigerian Eurobond investment plan
Many of us have searched for ways to invest in dollar mutual funds and been unable to find any we can invest in. Cowrywise realised there was a need for this investment option and decided to bridge the gap. We made it possible and super easy for you to invest in dollar mutual funds. We’ll be showing you how to get started and all you need to know about it.
What is the Nigerian Eurobond fund?
You can currently invest in the first of our Dollar mutual funds called the United Capital Nigerian Eurobond Fund. You’re probably wondering why it’s called a Eurobond fund when it’s a dollar-based investment option. We’re here to break it down for you.
Eurobond funds are a type of bond. This type of bond is issued in the host countries currency. A great example is that the Nigerian government can issue a bond that is denominated in dollars to allow foreign investors to have access to them too.
Now you’re probably wondering what a bond is. A bond is an agreement between two different parties. Another great example is that it’s like having a friend borrow from you and payback with a set interest rate. This means a government bond is simply the government borrowing money from the public with the agreement to pay back with a certain interest rate.
The Nigerian Eurobond Fund is a mutual fund that allows you to invest in dollar-denominated Eurobonds using your countries currency: the Nigerian Naira. It is managed by the Federal Government of Nigeria and other domestic companies like SEPLAT, Ecobank and Firstbank.
How do you receive returns from your dollar mutual fund investment?
You’ve made the smart decision to invest in the United Capital Nigerian Eurobond Fund. What’s next? Earning your returns from your smart money move!
There are two ways you can earn returns from your investments. The first is the fixed returns on the Eurobond which is credited to your Cowrywise Stash annually. Currently, the returns sit at 8% per annum.
The second way to earn returns from your dollar mutual investment is from the change in the value of the Naira per USD. If perhaps the value of the naira drops against the USD then you gain additional returns on your investment.
How to set up a Nigerian Eurobond investment plan
- Download the latest version of the Cowrywise app on the Playstore or Appstore.
- Signup and create a free account. You can log in after this.
- Tap “Actions”, followed by “Invest in Mutual Funds”.
- Select “Nigerian Eurobond Fund” to invest in.
We made sure that your journey to building your wealth in other currencies is just as seamless as you want it. Start investing today.
Good evening, my question to you please if open an account today in naira his the money will converted to us dollar to running the account
If you are investing in a dollar fund, yes.
Can the funds be traded rather than investing to increase gains?
What if your money is in cash(Dollar)
Can I invest in the next eurobond using dollar (cash)? If yes, will my returns be in dollar as well or it will be converted to naira??
Hi Helen, you can invest in Eurobonds at any time. However, we only accept naira deposits at the moment. Also, your returns accrue in dollars.
So which is best to earn the second way or first?
Focusing on returns will be better
Hi, what is the minimum amount you can invest with.
Hi there. You can invest the naira equivalent of $100
Hi Ope, does that mean I’d need two accnts to operate the fund, I.e a naira account to put in the naira funds which is d only 1 u currently accept, then a domicilary account where my returns would accrue in?
I want to invest in your Eurobond.
I have re-installed your new app an still can get the eurobond plan?
How much is the minimum equivalent dollar for a start?
Can i get an overview of all the benefits and rules of this plan?
***and still can’t get the eurobond plan?
Do you allow people from south Africa