Monday, February 12, 2018 5.45PM / Proshare WebTV
Stanbic IBTC one of the leading banking groups in the country, took a bold step in its drive to creating value for the Nigerian fixed income and debt market, with the listing of three critical funds; the money market fund, bond fund and dollar fund at the FMDQ OTC exchange.
Giving her remarks at the listing the CEO of Stanbic IBTC Asset Management Limited Mrs Bunmi Dayo-Olagunju said the listing of the funds will deepen the fixed income market in Nigeria.
According to her the three funds will further encourage market credibility and liquidity in the country.
Speaking further she stressed that the funds provide solutions to their clients, enabling them to meet their objectives and lifestyle plans.
In an analysis of the funds, Mrs Olagunju said the Money Market fund which is SEC Nigeria approved was launched in 2010, in its 8 years has provided an average yield of 17.96% with the objective of providing clients the opportunity to earn income that is consistent with capital preservation.
On the bond fund which is SEC Nigeria approved, she noted that it was also launched in 2010 with a 17.86% returns and an objective of achieving competitive return on assets.
For the dollar fund the Stanbic IBTC Asset Management CEO informed market stakeholders that it was launched in 2017, with a current yield of 7% returns, for those who invest in $ securities, corporate and sovereign Eurobond.
Also speaking at the listing the Executive Director/Head, Debt Capital Market Stanbic IBTC Capital(West Africa) Mr Kobby Bentsi-Enchill asserted that with the listing of the three funds, Stanbic IBTC had demonstrated once again its leadership in the fixed income market in Nigeria.
Mr Kobby Bentsil-Enchill described the partnership between Stanbic IBTC and FMDQ OTC as critical to bringing innovation, product development and innovation to the Debt Capital Market.
He described the Stanbic IBTC funds as the largest open-ended mutual funds in the country, which provided an avenue for investors to diversify their portfolios.
Highlights of the event was the formal signing ceremony between Mr Bola Onadele-Koko (MD/CEO FMDQ OTC) on behalf of FMDQ and Mrs Bunmi Dayo-Olagunju(CEO, Stanbic IBTCAsset Management), Mr Kobby Bentsi-Enchill (ED, Head Debt Capital Market, Stanbic Capital,West Africa) on behalf of Stanbic IBTC.
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