- Stanbic IBTC Lists Three Funds on FMDQ
Stanbic IBTC Asset Management Limited, a subsidiary of Stanbic IBTC Holdings Plc, has listed on the FMDQ OTC Securities Exchange three of the mutual funds under its management. These are Stanbic IBTC Money Market Fund, Stanbic IBTC Bond Fund and Stanbic IBTC Dollar Fund.
The listing, which took place on Monday, was sponsored by Stanbic IBTC Capital Limited.
Stanbic IBTC Money Market Fund, with close to N190bn in net asset value as at February 9, 2018, is currently the largest open-ended mutual fund in Nigeria. Its assets are invested in low-risk money market securities with financial institutions in Nigeria with a minimum rating of “BBB” by a local rating agency recognised by the Securities and Exchange Commission. SIMM is suitable for investors with low risk appetite whose objective is capital preservation while generating a steady stream of income.
Stanbic IBTC Bond Fund similarly was conceptualised to cater for investors with low risk appetite who want no exposure to capital markets but require liquidity and at the same time want to earn competitive returns available in fixed income markets.
