The Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) granted approvals for the launch of the IPOs for Stanbic IBTC Dollar Fund and SIAML Pension ETF 40 late last year. These two funds were launched based on market need and investor demand. The Dollar Fund is expected to provide discerning investors with the opportunity to seek exposure in attractive dollar-denominated securities to serve as a devaluation hedge while the SIAML Pension ETF 40 will mirror the NSE Pension Index, which tracks the 40 most capitalized and liquid companies in the capital market.
The Foreign Account Tax Compliance Act (FATCA) is a new legal and regulatory tax driven requirement originated from the United States of America.
Stanbic IBTC Asset Management Limited, a subsidiary of Stanbic IBTC Holdings Plc, has unveiled an initiative to educate and empower Nigerians by launching a multi-media nationwide Investor Education Campaign.