Asset & Resource Management Holding Company Limited (ARM) has announced that it is making an equity investment in Trove – a micro-investing application that allows users to invest in financial securities in Nigeria and the international markets.
The move, the company said in a statement, was in line with its dedication to leveraging technology as a means to change how clients access and consume financial services.
ARM had in May 2019, partnered with Ventures Platform to launch Labs by ARM focuses on supporting start-ups utilizing technology, applications, and services to solve specific problems.
The firm explained in the statement that it would utilise the Trove application to offer it clients the opportunity of trading in Government Bonds, Stocks, US Exchange Traded Funds and Stocks of US companies.
“With the NYSE and NASDAQ having a market cap of $30.2 trillion and $10.1trillion respectively, making them the most valuable markets, which have also consistently outperformed every other market, Nigerians through the use of Trove can now buy into these markets.
“With Trove, ARM clients can now seamlessly participate in the global economy and own shares in valuable companies such as Facebook, Lyft, Pinterest and Zoom to name a few without the need to reside in the US or have social security numbers, “it added.
Continuing, it stated: “The team behind Trove are repeat founders and finance professionals with experience working in companies in the financial sector such as Goldman Sachs and UBS Investment Bank. They are optimistic that Trove will address the existing bottlenecks in the Nigerian investment space such as lack of access to mature markets while giving Nigerians the chance to take control of their savings and investments.”
Speaking about the partnership, the Managing Director of ARM Financial Advisers Limited Mrs. Henrietta Bankole-Olusina said, “We believe that this is a wonderful opportunity to enlarge the investment playing field for our valuable clients enabling them to trade in diverse stocks and accumulate wealth globally from the comfort of their homes. It is also our hope that this partnership will encourage more millennials to explore the world of investing in order to build a future of realized ambitions.”
Trove, she explained, could be downloaded at the tap of a button on Google Playstore or iOS store. Established in 1994 as an asset management firm, Asset & Resource Management Holding Company (ARM HoldCo) offers wealth creation opportunities through a unique blend of traditional asset management and alternative investment services.
