The Managed Account Agreement serves as the primary contractual document establishing a discretionary investment management relationship in Nigeria. It is used when a client wishes to delegate investment management authority to a professional investment manager regulated by the Nigerian Securities and Exchange Commission. The agreement details the manager's authority to make investment decisions, execute transactions, and manage the client's portfolio in accordance with agreed investment objectives and strategies. Essential components include investment guidelines, fee structures, reporting obligations, and risk disclosures, all compliant with Nigerian financial services regulations. This document is crucial for ensuring clear understanding of responsibilities and protecting both parties' interests while maintaining regulatory compliance.

1. Parties: Identification of the investment manager and the client, including full legal names and addresses

2. Background: Context of the agreement and brief description of the services to be provided

3. Definitions: Definitions of key terms used throughout the agreement

4. Appointment and Authority: Formal appointment of the investment manager and scope of their authority

5. Services: Detailed description of investment management services to be provided

6. Investment Objectives and Strategy: Agreed investment objectives, strategy, and any investment restrictions

7. Fees and Expenses: Management fees, performance fees, and other charges, including calculation methods and payment terms

8. Client's Representations and Warranties: Client's confirmations regarding their status, authority, and understanding of risks

9. Manager's Representations and Warranties: Manager's confirmations regarding licenses, capabilities, and compliance

10. Risk Disclosures: Detailed disclosure of investment risks and market uncertainties

11. Reporting and Valuations: Frequency and content of reports, valuation methods

12. Confidentiality: Protection and handling of confidential information

13. Compliance with Laws: Obligations to comply with Nigerian laws and regulations

14. Term and Termination: Duration of agreement and circumstances for termination

15. Indemnification: Mutual indemnification provisions and limitations of liability

16. Notices: Method and addresses for formal communications

17. Governing Law and Jurisdiction: Nigerian law as governing law and jurisdiction for disputes

18. General Provisions: Standard boilerplate clauses including assignment, amendments, and severability