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The short answer
The ARM Eurobond Fund is an SEC-regulated dollar mutual fund run by ARM Investment Managers that invests in US dollar fixed income, mainly bonds, with the rest in short-term instruments and cash. Its September 2025 factsheet lists a $1,000 minimum, a 1.5% management fee and a "Medium–High" risk profile; returns are not fixed.
What the fund is
ARM's Eurobond Fund is a unit trust registered under the Investments and Securities Act 2007 and regulated by the SEC, according to its September 2025 factsheet. It was launched in February 2020. Its stated aim is to help investors reach long-term goals by investing in US dollar-denominated instruments.
- Trustee
- STL Trustees Limited
- Custodian
- Rand Merchant Bank Limited
- Minimum investment
- $1,000; additional investments "as little as $100" per the factsheet text
- Management fee
- 1.5% of net asset value
- Incentive fee
- Up to 20% of returns above the benchmark
- Benchmark
- Composite of the 3-year Nigeria sovereign Eurobond yield and US Treasury bill yield
- Risk profile
- "Medium–High"
- Fund size
- $11.48 million (September 2025)
What it holds
The factsheet shows the fund 100% in fixed income, split as follows at September 2025:
| Asset type | Share of fund |
|---|---|
| Bonds | 72.30% |
| Short-term instruments | 26.01% |
| Cash | 1.69% |
The fund may hold 70% to 100% in bonds. The factsheet does not name individual holdings; given the fund's name and benchmark, the bonds are expected to be largely Nigerian Eurobonds, but ask ARM for the latest holdings list. For background on these bonds, see Nigeria's dollar bond and Eurobonds. It reports a fund duration of 2.43, which is a measure of how sensitive the price is to interest-rate changes: roughly, a 1 percentage point rise in yields would cut the bond portion's value by about 2.4%.
How returns work
Returns are not a fixed rate. The fund's unit price moves with the prices of the bonds it holds, and income from coupons is added. The factsheet reported a holding yield of 7.70% (no date given) and a 2024 dividend yield of 2.97%. Yields change with markets; treat these as a snapshot from the September 2025 factsheet, and check ARM's latest factsheet for current figures.
One detail to notice: the factsheet calculates returns NAV to NAV with dividends reinvested in naira, and its "growth of ₦10,000" chart is in naira. So part of the reported growth reflects the naira weakening against the dollar, not only bond income.
Worked example: what fees take
Example only. You invest $2,000 and the fund's assets earn 8% before fees in a year ($160). The 1.5% management fee on $2,000 is $30. Before any incentive fee, you are left with $130, or 6.5%. If the fund beats its benchmark, an incentive fee of up to 20% of the excess also applies.
Getting in and out
ARM's general FAQs (modified March 2026) describe investing through a subscription form and payment to the fund account, by email, at an ARM Investment Centre or through an online account, with funding by transfer, card and other channels. The FAQ describes redemption by form and says processing "should not exceed one working day" after receipt, but that answer sits in its money market fund section; the Eurobond factsheet itself does not state redemption timing, any minimum holding period, or whether you can pay in or be paid in naira. Ask ARM to confirm these before investing.
- Have your ID, BVN and proof of address ready.
- Confirm whether the fund accepts dollar transfers only, and the designated account.
- Ask about early-redemption charges and payout timing for this fund specifically.
- Check ARM Investment Managers on the SEC's register of operators as part of your due diligence; our guide to buying dollar mutual funds explains how.
Risks to understand
- Interest-rate risk: when global or Nigerian dollar yields rise, existing bond prices fall, and so does the unit price. The fund's duration of 2.43 gives a sense of scale.
- Credit risk: a fund built around Nigerian Eurobonds depends on the Federal Government continuing to pay its dollar debts.
- Concentration: with $11.48 million in assets at September 2025, it is a small fund; ask how large redemptions are handled.
- Currency direction: in naira terms, your value rises if the naira weakens and falls if it strengthens, on top of the bond returns.
- No deposit insurance: fund units are not bank deposits.
The trustee and custodian structure is the main protection. The custodian, Rand Merchant Bank, holds the fund's assets separately from ARM's own, and the trustee, STL Trustees, oversees that the manager follows the trust deed. That protects against the manager misusing assets; it does not protect against falling bond prices.
Who it suits
It suits savers with at least $1,000 they can leave for a few years, who want dollar exposure plus bond income and can accept that the unit price can fall. It is less suited to emergency money or anything needed within months. Compare it with the Stanbic IBTC Dollar Fund, which starts at $100, and read dollar savings versus Eurobonds for the trade-offs.
Where Pryme fits
Pryme is not a fund manager. A Pryme account can hold the dollars you set aside before investing, with local USD account details; see how it works.
Questions people ask
What is the minimum investment for ARM Eurobond Fund?
The September 2025 factsheet lists a $1,000 minimum initial investment, with additional investments from $100.
What does ARM Eurobond Fund invest in?
US dollar fixed income: at September 2025, 72.30% bonds, 26.01% short-term instruments and 1.69% cash. The factsheet does not name the individual bonds.
Is ARM Eurobond Fund safe?
It is SEC-regulated, with STL Trustees as trustee and Rand Merchant Bank as custodian, but it is not a deposit and its unit price can fall. ARM rates its risk "Medium–High".
How much does ARM Eurobond Fund charge?
A 1.5% management fee on net asset value, plus an incentive fee of up to 20% of returns above its benchmark, per the factsheet.
Sources
- ARM Investment Managers: ARM Eurobond Fund factsheet (September 2025) · accessed Oct 2026
- ARM Investment Managers: FAQs · accessed Oct 2026
- SEC Nigeria: Find a registered operator · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.