FAQs

General

CardinalStone Asset Management Limited is a wholly own subsidiary of CardinalStone Partners Limited. The firm was incorporated on April 19, 2016 to offer fund management services to clients. It will offer a broad range of investment products ranging from equities to fixed income and commodities. 

Basic Requirements: 

  • Duly Completed Account Opening form 
  • A valid government issued ID (International Passport, Driver’s License, National Identity Card or National Voter’s Card). Means of Identification for foreign clients have to be notarized 
  • Proof of Address/Utility Bill (not longer than 3 months)  Passport Photograph 
  • Signed Brokerage Agreement (for stockbroking clients only) 
  • Signed Investor Profile Questionnaire and Portfolio Management Agreement (for portfolio management clients only) 
  • Minimum initial deposit 

CardinalStone Asset Management Limited, through its Structured Investment Plan, has investment opportunities from N100,000. Please note that specific products have their own minimum investment amount. 

Stockbroking 

  • ₦1,000,000.00 in cash, certificates or transfer of stocks 

Fixed Income 

  • ₦1,000,000.00 only in cash 

Separately Managed Accounts 

  • ₦5,000,000.00 in cash or transfer of stocks 

Structured Investment Plans 

  • ₦100,000.00 in cash and subsequent investments of ₦50,000.00 

Yes. After determining your risk profile, we can create a mix of asset class instruments for your portfolio that is in line with your financial plan.  

Information on your investment is available 24/7 on your Client Portal. Also, we will always keep you up to date with the performance of your investment portfolio via email. Quarterly statements detailing your portfolio holdings, asset allocation, and performance summary will be provided by your account officer. 

Click here to open an account online. You can also send an email to invest@cardinalstone.com and one of our investment advisors will contact you.  

After you have filled the application form, sent the necessary documents and in case there are no further questions, you will receive your account details within 24 hours. 

To invest with CardinalStone Asset Management Limited, prospective clients need to complete an account opening form and also submit KYC documents. 

Clients can track their portfolio on our online portal – web and mobile 

CardinalStone Asset Management Limited will regularly update you on current market activities to enable you make informed investment decisions. Our investment advisors are always a call away. 

Everyone can benefit from CardinalStone Asset Management Limited services 

CardinalStone Asset Management Limited offers the following services: 

  • Mutual funds 
  • Separately Managed Account 
  • Foreign Currency Investment 
  • Fixed Income Investment (Treasury Bills, commercial papers) 
  • Wealth & Portfolio Management 
  • Alternative Investment 
  • Fixed Income Notes 
  • Treasury Bills Direct 
  • Structured Investment Plans (SIP) 
  • Separately Managed Account (SMA) 
  • Eurobond Investment Notes (EIN) 
  • USD Money Market Investment (MMI)) 
  • GBP Money Market Investment (MMI) 
  • Account will be managed by a dedicated team of advisors 
  • Use of the latest technology to enhance response time and ensure excellent service delivery 
  • Unbiased and honest feedback 

We have 3months, 6months, 365months, 1year, 2years and 3years as the case maybe. 

Treasury Bills are sold at market and as such do not attract a pre-liquidation charge. Tenured Dollar and Naira  investments attracts pre-liquidation charge of 50% of accrued interest. 

CardinalStone Asset Management Limited is fully registered with the Corporate Affairs Commission and the Securities and Exchange Commission (SEC) to carryout Asset Management and related services. Our active registration with SEC can be verified from the list of capital market operators on the SEC website. In addition, CardinalStone Asset Management Limited always employs first class risk management practices, corporate governance and we always adhere to client’s investment policies. CardinalStone Asset Management Limited guarantees the principal and interest for all fixed rate tenured investments.

We currently operate from two offices: 

Lagos: 5 Okotie Eboh Street, Off Awolowo Road, Ikoyi, Lagos. 

Tel: 01-710 0433 

Email: invest@cardinastone.com 

Abuja: 12 Dar Es Salaam Street, Off Aminu Kano Crescent, Wuse II, Abuja. 

Tel: 01-710 0433 Ext: 950 

            Email: abujaia@CardinalStone Asset Management Limited.com 

Basic Requirements: 

  • Duly Completed Account Opening form 
  • A valid government issued ID (International Passport, Driver’s License, National Identity Card or National Voter’s Card). Means of Identification for foreign clients have to be notarized 
  • Proof of Address/Utility Bill (not longer than 3 months) 
  • Passport Photograph 
  • Signed Brokerage Agreement (for stockbroking clients only) 
  • Signed Investor Profile Questionnaire and Portfolio Management Agreement (for portfolio management clients only) 
  • Minimum initial deposit 
  • National Driver’s License 
  • International Passport 
  • National Identification Card 
  • Permanent Voter’s Card 

You are guaranteed best market rates, information and fast execution coupled with investment advisers that put you first. 

This is a service provided for private individuals of means who lack the time, effort or knowledge to manage their finances successfully. To make up for what may be lacking, CardinalStone Asset Management Limited incorporates financial planning, portfolio management and other aggregated financial services as a service to these individuals. 

We are open 8.00am to 5.00pm from Monday to Friday. 

We are not open on public holidays. 

Mutual Fund

The CardinalStone Asset Management Limited Fund (“the Fund”) is a

The Fund is formed by pooling funds of several individual and corporate investors

Units can be purchased by completing a Purchase Order Form online.  

Yes, it is possible to invest for minors. 

You will be required to complete a Redemption Form and return the electronic certificate to the Fund Manager. Once these documents have been verified, the redemption request will be processed within _ business days. 

Yes, you can redeem your funds online after you have duly completed and executed an online consent and redemption agreement. Online redemptions are processed within a minimum of 48 hours. 

No, there are no penalties for withdrawals. However, redemptions within the first thirty (30) days, will incur a processing fee _% of on INTEREST ONLY is applicable.

The forms can be downloaded from our website www.cardinalstoneassetmanagement.com. The forms are also available at all offices of CardinalStone Asset Management Limited. 

Additional subscriptions can be made online when you log on to your mutual fund account, by completing a Purchase Order Form and attaching a cheque or bank draft made payable to CardinalStone Asset Management Limited Fund for the amount that you wish to invest. You can also set up a Direct Debit by completing the Direct Debit Form. 

You get an e-certificate after payment has been confirmed. The e-certificate indicating the number of units held by you will be forwarded to you via email by us. 

We provide online access via our website www.cardinalstoneassetmanagement.com, and publish our yields in leading Nigerian newspapers on weekdays as well as our website.

Yes, units of the CardinalStone Asset Management Limited Fund can be transferred to a third party at the instruction of the existing unitholder upon payment of a nominal transfer charge with the consent of the Trustees. 

No. The Fund Manager makes all the investment decisions based on guidelines set out in the Fund’s Trust Deed. 

Yes, Units of the Fund can be used as collateral for obtaining credit facilities from various financial institutions. However, this depends on each financial institution’s lending policy. 

No, the Fund is open-ended and there is no minimum period of participation. 

Unit holders will be issued dividends which are not subject to withholdings tax. Unit holders have the option of receiving their dividend warrants in cash or reinvesting them in additional units of the fund at the Offer Price. 

No, the Fund is not currently listed in the Daily Official Memorandum list of The Nigerian Stock Exchange.

SMA

The separately managed portfolio account are accounts that are designed for clients who desire to invest in various asset classes either by entrusting the investment decision making process to a dedicated portfolio manager or be involved in the decision-making process.

The Investment objective of the SMA product designed to suit the client’s needs. 

Investment decisions on the portfolio are taken by an Investment committee, however clients with non-discretionary SMA portfolios are also involved in the decision-making process. 

Yes, there will be an agreement guiding the management of the portfolio. The agreement will state the investor’s objectives, duties of all parties involved and other terms of the investment 

The assets in the portfolio are determined by the investment objectives, risk appetite and agreed strategy for each client. Major asset classes include Fixed Income securities (Bonds, T-Bills, Commercial Papers, Eurobonds), Equities, Real Estate and other alternative investments. 

Yes, the benchmark return is agreed at the point of setting up the portfolio; this will be stated in the Investment Management Agreement. The benchmark return on the traditional SMA portfolio currently stands at 20% 

Funds can be withdrawn from the portfolio as often as the client wants. However once the client’s balance is below N1m, the client’s account will be converted to a SIP account. We encourage clients to state their anticipated liquidity needs/preference when stating their investment objective, in order to ensure adequate provision is made when setting up the portfolio 

Currently, the portfolio does not invest in foreign domiciled investment instruments. 

Yes, you can view the summary of your portfolio online 

Yes, clients can change their investment profiles by sending an email to the Investment Managers through their relationship managers. Investors should however note that they may incur losses when liquidating investments in order to change investment strategies 

The standard SMA agreement is expected to run for three years and this can be renewed at maturity. Clients can however indicate their preferred investment tenors 

This can be worked out with our Legal team and necessary amendments would be made to the SMA agreement. 

The standard management fee of 1% of NAV (plus VAT) is charged quarterly in arrears.  There is also a performance incentive fee charged on excess return above the target return. 

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