Stanbic IBTC Asset Management Ltd (SIAML) sets fantastic new record in West Africa



Thursday, November 12, 2015 1:10PM / SIAML / Press Release

Stanbic IBTC has achieved another feat with its Money Market Fund becoming the first mutual fund in West Africa to cross the N50 billion mark in Net Asset Value. The Stanbic IBTC Money Market Fund (SIMM), managed by Stanbic IBTC Asset Management achieved this milestone in October 2015 and further burnished its position as the largest listed fund in the country.

The latest report on collective investment schemes by the Securities and Exchange Commission showed that Stanbic IBTC Money Market Fund has N50.19 billion i.e. 22% of the Nigerian Collective Investment Scheme/Mutual Fund market in the week to Friday, 16 October 2015, with an effective yield of 12.45%.

Bunmi Dayo-Olagunju, the Stanbic IBTC Asset Management CEO said that the historic N50 billion mark not only demonstrates the Fund’s leadership position in the industry but also shows the level of expertise and commitment by the fund managers to ensure safety of invested funds while enhancing returns. “This is an important milestone for us. The Fund is just five years old, and to have achieved asset under management of over N50billion is a remarkable feat, which highlights the solidity and competencies of Stanbic IBTC Asset Management as Nigeria’s leading asset management company,” Dayo-Olagunju said.

Stanbic IBTC Money Market Fund, established in 2010, invests 100% of its assets in fixed income investments, including treasury bills, money market placements, commercial papers and other instruments approved by the Securities and Exchange Commission. The Fund has consistently paid dividends to its subscribers since inception. Other funds managed by Stanbic IBTC Asset Management include: Stanbic IBTC Nigerian Equity Fund; Stanbic IBTC Bond Fund; Stanbic IBTC Guaranteed Fund; Stanbic IBTC Balanced Fund; Stanbic IBTC Ethical Fund; Stanbic IBTC Imaan Fund; Stanbic IBTC Conservative Fund; Stanbic IBTC Absolute Fund; Stanbic IBTC Aggressive Fund; and Stanbic IBTC ETF 30 Fund.

The credit rating agency, Agusto and Co. has rated Stanbic IBTC Money Market Fund “Aa(f)”, the highest rating by a mutual fund managed in Nigeria, for four consecutive years, based on the “minimal exposure to downside risk (impairment of the net asset),” according to the rating agency.

Stanbic IBTC Asset Management Limited is a wholly-owned subsidiary of Stanbic IBTC Holdings PLC, which is part of the Standard Bank Group, Africa’s largest bank by assets and market capitalization. Standard Bank Group has been in operation for 153 years and has direct, on-the-ground representation in 21 African countries. Stanbic IBTC Holdings PLC provides the full spectrum of financial services with a clear focus on three main business pillars - Corporate and Investment Banking, Personal and Business Banking and Wealth Management.

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