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FBNQuest holds AGMs for Five Mutual Funds, Returns Outperform 5-year Benchmarks

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FBNQuest Asset Management, a subsidiary of FBN Holdings, recently held annual general meetings for five mutual funds managed by the firm. The funds are the FBN Balanced Fund, FBN Smart Beta Equity Fund, FBN Eurobond Fund, FBN Bond Fund and the FBN Money Market Fund.

The Fund Manager continues to deliver commendable results, which is demonstrated by strong performance across all its funds.

The FBN Bond Fund was the best performing of the mutual funds, returning 104.20% over the five-year period whilst its US Dollar fund, the FBN Eurobond Fund, returned 48.43% in US Dollars over the same period. The FBN Smart Beta Equity Fund also outperformed its benchmark by 38.22% in the five-year period.

FBNQuest Asset Management’s mutual funds provide investment opportunities for investors with low, moderate or high-risk tolerance.

The FBN Balanced Fund is one of the largest and oldest mixed-asset funds in Nigeria, having been launched in 2008. It has built a track record of consistently outperforming its benchmark, earning its investors a total return of 81.09% over the five-year period.

“The Fund provides exposure to money market securities, bonds and equities and, with a minimum investment of N50,000.00 (fifty thousand Naira only), offers diversification across various asset classes. This solution is suitable for investors desiring income and long-term capital growth.”

Commenting on the performance of the funds, Ike Onyia, the Managing Director of FBNQuest Asset Management, stated that “Our strong performance track record is premised on the research capabilities, insights and experience of our portfolio management and research teams.

“Our mutual funds serve as useful investment options useful in formulating unique and value-adding investment strategies for various client segments. This is because our range of mutual funds cut across various asset classes including equities, bonds and money markets”.

“Our funds remain easily accessible, as our goal is to continue to drive financial inclusion and democratise wealth creation, by supporting the financial security aspiration of investors”. he added.

Increasingly, financial markets are becoming complex to navigate and as a result, it will not be out of place for investors to actively seek the inclusion of mutual funds in their investment portfolio, which will serve as the structured gateway to such markets. Seeking the help of experienced financial planners to assist you in establishing your risk tolerance levels and advise on suitable options is highly recommended.

To find out more about the FBNQuest Mutual Funds products, please follow FBNQuest on social media or visit the website. Please note that past performance is not an indication of future performance, and the returns on investments can fall as well as rise.


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FDA Okays Elon Musk’s ‘Blindsight’ Brain Chip to Restore Vision for the Blind

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Neuralink, the brain-chip company co-founded by Elon Musk, has achieved a significant milestone with its latest device, “Blindsight,” receiving the U.S. Food and Drug Administration’s (FDA) breakthrough designation.

FDA Okays Elon Musk’s ‘Blindsight’ Brain Chip to Restore Vision for the Blind

This recognition highlights the potential of Blindsight to restore vision to individuals suffering from complete or partial blindness, including those with damaged optic nerves.

Blindsight is designed to help even those who have been blind since birth, provided their visual cortex remains functional.

Initially, the device is expected to offer low-resolution vision, but over time, it holds the potential for users to perceive advanced wavelengths like infrared and ultraviolet, offering possibilities beyond natural sight.

Neuralink, established in 2016, is pioneering brain-computer interfaces aimed at addressing neurological disorders. Its technology includes brain implants capable of reading neural signals and wirelessly transmitting them to external devices.

The company is also working on devices to assist paralyzed individuals in controlling digital tools using their thoughts.

Recent developments include the successful implantation of Neuralink’s brain-computer interface in a second patient, who is now able to control video games and design 3D objects using thought alone.

 

 

 


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Nigeria’s Mpox Cases Mostly Affect Children, Men – NCDC

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Mpox infections are disproportionately affecting children and males in Nigeria, according to recent data from the Nigeria Centre for Disease Control and Prevention (NCDC).

Nigeria’s Mpox Cases Mostly Affect Children, Men – NCDC

Pix Credit: Sky News

Since January 2024, males have accounted for 67% of Mpox cases, with men making up approximately 70% of the 6,001 suspected and confirmed cases recorded since September 2017.

The disease is spreading rapidly, with 1,031 suspected cases reported across 47 local government areas in 23 states and the Federal Capital Territory.

Children under five years old are among the most affected, followed by the 26-30 and 46-50 age groups.

Mpox is an infectious disease caused by the monkeypox virus, characterized by a painful rash, swollen lymph nodes, and fever. While most people recover fully, some may become seriously ill.

The disease can spread from animals to humans and between humans through close contact, respiratory droplets, and contaminated objects.

To combat the outbreak, Nigeria has received a donation of 10,000 doses of Jynneos, a Mpox vaccine, from the United States government.

 


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Avanti Communications, IHS Nigeria Recognized with Universal Broadband Award for Connecting Rural Nigeria

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Global multi-orbit satellite provider, Avanti Communications (“Avanti”), and IHS Nigeria, part of the IHS Holding Limited (NYSE: IHS) (“IHS Towers”)  group, have been recognized for their work in connecting rural Nigeria at the 2024 World Space Business Awards.

Each year at World Space Business Week, Novaspace, a merger of Euroconsult and SpaceTec Partners, award the most forward-thinking businesses and innovations contributing to the future of the global space sector.

The Universal Broadband Award recognizes those committed to helping transform the lives of underserved communities.

Together, Avanti and IHS Nigeria have been helping improve the connectivity landscape across Nigeria, bringing broadband connectivity to rural communities nationwide, where the cost of traditional telecommunications networks can leave millions behind.

IHS Nigeria already has a strong footprint in Nigeria, operating over 16,000 towers across the country.

To help extend this reach, Avanti has been supplying the physical, transport and network layer for the transmission of cellular backhaul traffic to and from cellular towers, back to the core network of mobile network operators.

The partnership has delivered fast, cost-effective and reliable 3G and 4G connectivity to 700 rural sites across Nigeria, directly benefitting more than 3.5 million people.

Mohamad Darwish, CEO, IHS Nigeria, said, “We are deeply honored to receive this award, recognizing our commitment to innovation and social responsibility in expanding global connectivity.

As one of the largest independent tower companies globally, IHS Towers is dedicated to helping bridge the digital divide, particularly in Nigeria, where we operate more than 16,000 towers.

IHS Nigeria’s partnership with Avanti Communications has been pivotal in bringing broadband connectivity as well as delivering sustainable, reliable, and cost-effective solutions to rural areas. Together, we are striving to help transform lives by enabling digital inclusion, job creation, and driving socio-economic development across underserved and unserved communities.”

Kyle Whitehill, CEO at Avanti, said, “The mission to provide cost-effective, reliable, and sustainable internet solutions is more than a professional endeavour; it is a mission we each carry personally at Avanti. Access to the internet is not a luxury, it is a necessity.

“It opens doors to education, healthcare, economic opportunities, and global connectivity. For too long, the remote and hard-to-reach regions of Africa have been left in the dark, disconnected from the boundless potential connectivity brings.”


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