The Management of Cashcraft Asset Management Limited said it has carried out a major restructuring and realignment of its business operations. The company said in a statement on Thursday that as part of the restructuring, its broker/dealer function had been transferred to its wholly-owned subsidiary, Cashcraft Securities Limited. Also, it said its funds/portfolio management function had been transferred to Cashcraft Capital Limited. According to the company, the objective of the restructuring is to offer better services to its clients and the public through its various offices across Nigeria. The statement said that the Securities and Exchange Commission and the Nigerian Stock Exchange had approved the restructuring and realignment of its operations. Incorporated in 1991, Cashcraft Asset Management is registered with the SEC as a broker, dealers, issuing house and fund managers. According to the company, which has offices in Lagos, Kano, Port Harcourt and Kaduna, among others, its authorised share capital is N3bn, while its shareholders’ funds amount to over N1.5bn. Its plan is to be the financial services firm of choice, in the building and management of wealth, by using the best tools, to deliver superior service and returns. With the restructuring and realignment of its services, the management of the company, which has a mission to propagate the benefits of the capital market and arrange convenient ways for clients to achieve exceptional results, said it was confident of achieving its objectives.
Source - Punch
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