The ValuAlliance Value Fund (“Value Fund”), formerly known as “SIM Capital Alliance Value Fund”, is a closed-end collective investment scheme, registered and regulated by the Securities and Exchange Commission, whose units are listed on the main board of the Nigerian Stock Exchange (“NSE”).

The Value Fund commenced operations on the 30th of June 2011, raising the sum of N3.2bn through an Initial Public Offer.

The Value Fund operates with a total return objective and aims to provide investors with capital growth over the long-term by investing in listed and unlisted Nigerian equities as well as other securities as approved by the SEC.

The Fund adheres to a pragmatic value investment philosophy; investing in securities which are sufficiently undervalued relative to their intrinsic value. As a first step, the Fund screens for securities trading at low price to earnings multiples, low price to book ratios, as well as an acceptable margin of safety relative to the Fund Manager’s assessment of fair value.

Since its inception in June 2011, the Fund has made annual distributions to unitholders, with distributions totaling N2.562bn (N79.83/unit) as at 31st December 2019.

Parties to the Fund include: Trustees to the Fund - Leadway Capital & Trusts Limited; Custodians to the Fund - Stanbic IBTC Nominees Ltd; Registrars to the Fund – First Registrars & Investor Services Limited.

DateMarket Price
26th Jun 2020₦103.20
19th Jun 2020₦103.20
12th Jun 2020₦103.20
5th Jun 2020₦103.20
29th May 2020₦103.20
22nd May 2020₦103.20
15th May 2020₦103.20
8th May 2020₦103.20
30th Apr 2020₦103.20
24th Apr 2020₦103.20
17th Apr 2020₦103.20
9th Apr 2020₦103.20
3rd Apr 2020₦103.20
27th Mar 2020₦103.20
20th Mar 2020₦103.20
13th Mar 2020₦103.20
6th Mar 2020₦103.20
28th Feb 2020₦103.20
21st Feb 2020₦103.20
14th Feb 2020₦103.20
7th Feb 2020₦103.20
31st Jan 2020₦103.20
24th Jan 2020₦103.20
17th Jan 2020₦103.20
10th Jan 2020₦103.20
3rd Jan 2020₦103.20
27th Dec 2019₦103.20
20th Dec 2019₦103.20
13th Dec 2019₦103.20
6th Dec 2019₦103.20

DateNAV/Unit
26th Jun 2020₦144.6832
19th Jun 2020₦145.6982
11th Jun 2020₦147.1443
5th Jun 2020₦146.5816
29th May 2020₦146.8834
22nd May 2020₦145.4923
15th May 2020₦141.2991
8th May 2020₦140.9230
30th Apr 2020₦138.5235
24th Apr 2020₦136.7800
17th Apr 2020₦138.6727
9th Apr 2020₦136.5250
3rd Apr 2020₦132.4052
27rd Mar 2020₦133.9802
20th Mar 2020₦130.0818
13th Mar 2020₦132.4177
6th Mar 2020₦145.8122
28th Feb 2020₦144.6266
21st Feb 2020₦149.9703
14th Feb 2020₦150.9800
7th Feb 2020₦151.0830
31st Jan 2020₦155.2789
24th Jan 2020₦155.1407
17th Jan 2020₦155.4237
10th Jan 2020₦155.0082
3rd Jan 2020₦148.8462
27th Dec 2019₦146.1849
20th Dec 2019₦145.7981
13th Dec 2019₦155.0082
6th Dec 2019₦154.3158

Financial Highlights

Financial Year End30-Jun-1930-Jun-1830-Jun-1730-Jun-1630-Jun-1530-Jun-1430-Jun-1330-Jun-12
Opening Net Asset Value (₦'000)5,498,6664,846,6064,071,2864,337,1354,883,9584,249,3143,617,6093,209,679
Closing Net Asset Value (₦'000)4,884,4685,498,6664,846,6064,071,2864,337,1354,883,9584,249,3143,617,609
Net Income (₦'000)-258,7161,044,248 1,141,399229,842-31,715434,620845,175415,633
Distributions (₦'000)353,065417,258 320,968320,968320,968320,968264,478243,615
Net Asset Value/Unit152.18171.32151126.84135.13152.16132.39112.71
Earnings/Unit-8.0632.5335.567.16-0.9913.5426.3312.95
Distribution/Unit1113.00101010108.247.59
Total Return (%) (Net of Expenses)-3.58%20.08%26.93%1.27%-4.62%21.16%24.20%12.71%
Distribution Yield (%NAV)7.23%7.59%6.62%7.88%7.40%6.57%6.22%6.73%
Distribution Yield (% Price)10.66%12.59%9.69%9.69%9.69%9.69%8.59%7.33%

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