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FUNDS
MANAGEMENT
As
a discount house, EDL is primarily a funds manager with
access to various investment opportunities in both the
money and discount markets. Hence, we are adequately
positioned to manage your pension funds portfolio, diversifying
the risks and obtaining an optimal mix of yield and
security. With the professional competence of our dealers,
the safety of your funds is assured. The returns to
you are equally competitive and attractive.
If
your company has a privately managed pension fund scheme,
usually there is a statutory requirement (for year end
purposes) to hold a certain percentage of your portfolio
in treasury bills. EDL could sell Treasury Bills to
you for that purpose and repurchase thereafter.
EXPRESS VALUE ACCOUNT (EVA)
EVA
stands for Express Value Account and is hinged on the
financial economic concept of Economic Value Added for
wealth creation.
Features
Minimum
investment – N100,000 in multiples of N50, 000
thereafter.
Minimum
tenor – 90 days.
Rate
- Very competitive, in line with the money market. Also
enhanced by the fact that it does not attract withholding
tax.
Benefits
Safety
- The investment will be backed by a combination of
treasury bills and commercial instruments from AAA rated
blue chip companies and usually with an underlying bank
guarantee.
Collateral
– Your investment may be used as Security for
loans.
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SPECIAL TIMING FUND (STF)
Features
This
product, Special Timing Fund Account, is a fund management
scheme designed to assist our clients in managing their
cash flows more efficiently. The product will enable
you to make your funds work for you, rather than being
“idle” in a current account with a Commercial
or Merchant bank.
The
product has the following benefits
- Customised cheque book for each customer. The cheques will be presentable for clearing through a third party’s account (the payee) or for cash @ EDL office.
- Monthly accounts statement to be issued to customers.
- Maximum daily cash withdrawal limit of N200, 000.00.
- Withdrawal in excess of above limit to be paid by a correspondent bank.
- Interest is to be paid and compounded monthly.
- Minimum
balance of N100, 000.00 - Individual and N250, 000.00 - Corporate to attract interest of 5% p.a.
- The account is to be COT free for individuals but N1.5 per mille for corporates
(negotiable)
- Bank draft is to be issued on customer’s request
Account opening balance is N5 million – Corporate Clients, N100,
000.00 – Individual Clients.
Benefits
Your organization can optimize the earnings on such
funds depending on the amount invested and tenor, while
maintaining your liquidity because of the flexibility
of the scheme. Hence, STF account guarantees you safety,
liquidity and high yield on the monies you place in
scheme. Our efficient delivery and superior service
will ensure that your withdrawals are effected promptly
without compromising the security of your funds.
CALL
DEPOSIT
Funds
can be placed on Call Deposit with EDL at competitive
rates.
These funds can be recalled by giving a 24-hour notice
on any working day.
Click
here for Form
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