Anchoria Asset Management Appoints New Directors

In a significant move at its third Annual General Meeting (AGM) held recently, Anchoria Asset Management (AAM) announced the appointment of Mr. Folajimi Adeleye as the new Managing Director and Mrs. Esther Ugwu as the company’s Executive Director, Business Development and Investor Relations.

This was disclosed in a statement yesterday.

Ugwu brings over a decade of experience in Business Development and Relationship Management, while Adeleye boasts of almost two decades of extensive experience in Audits, Financial Reporting, and Financial Management.

According to the statement, their track record and understanding of the investment market dynamics makes them well-equipped to drive growth initiatives, strengthen relationships with investors and stakeholders and drive thought leadership initiatives for AAM.
It added: “I am thrilled to work with the talented team at AAM to capitalise on new opportunities and promote sustainable growth.

“I congratulate Esther on her new role and look forward to implementing our strategic vision to advance the company’s objectives and expand its market presence.

“Together, we will build on AAM’s strong foundation and chart a course for continued success in the years ahead,” Adeleye, upon his appointment.

Shareholders also approved a dividend payment of N258 million for the 2023 fiscal year, equating to a payout of 38 kobo per share.

AAM reported a profit of N1.8 billion, a remarkable 345 per cent increase from the previous year. Other notable achievements included a 728 per cent growth in shareholders’ funds and a 51 per cent increase in Assets Under Management (AUM), reflecting strong investor confidence and effective portfolio management strategies.

Speaking on the next steps for the company, the Chairman, Kelvin Orogun, emphasised AAM’s commitment to creating long-term value and sustainable growth for its shareholders, employees, and customers.
He affirmed the firm’s focus on delivering superior investment solutions and building enduring partnerships.

AAM incorporated by the Corporate Affairs Commission (CAC) and licenced by the Securities and Exchange Commission (SEC) as a Funds/Portfolio Manager, specialises in wealth creation and preservation for retail, high-net-worth individual clients, and institutional investors.