In order to assist its clients in dealing with loss of wealth as a result of the sustained pressure on the naira, Stanbic IBTC Asset Management Limited a member of Stanbic IBTC Holdings Plc, is introducing into the market, Stanbic IBTC Dollar Fund (SIDF), which will provide retail and institutional investors the opportunity to seek exposure in attractive dollar denominated securities to serve as a devaluation hedge as well as to optimize returns on investments.
The SIDF brings to eleven the number of Funds managed by the company. Stanbic IBTC Asset Management Limited, the largest asset management company in Nigeria, said the need to spur the preservation and appreciation of wealth necessitated the Stanbic IBTC Dollar Fund.
“We believe that even in these volatile times, the fund will foster the diversification of portfolios and investments in currency terms, which in turn would help in the preservation and appreciation of wealth for investors,” said Mrs. Bunmi Dayo-Olagunju, Chief Executive of Stanbic IBTC Asset Management.
“This new fund makes a welcome addition to our focused range. We’re very delighted to launch the Stanbic IBTC Dollar Fund, and have every confidence that it will meet our investors’ expectations,” Dayo-Olagunju added.
The fund will be accessible to both retail and institutional investors who have a preference for investing in dollar-denominated securities. In addition, the Fund will ensure payout of coupons received to unit holders as distribution annually or as determined by the Fund Manager. The unit holders will be given the choice to either have their distribution paid to their designated domiciliary accounts or to re-invest same in the Fund, the company said.
“As the market leader in Nigeria, we are aware of our responsibility to continuously provide unparalleled solution and services to Nigerians in a very cost effective and timely manner. The launch of the Stanbic IBTC Dollar Fund demonstrates Stanbic IBTC Asset Management’s commitment to help Nigerians professionally manage various financial securities and assets, while ensuring maximum benefits,” Dayo–Olagunju said.
An interested investor can gain access to the SIDF in three simple steps; complete the subscription form, provide supporting documentation and fund the designated USD account. Thereafter, Stanbic IBTC Asset Management Limited would open the investors account and notify the individual of online access, the company said.
Dayo-Olagunju assured subscribers that the fund manager will continue to leverage on the rich heritage of the Standard Bank Group, to which Stanbic IBTC belongs, to manage their funds in a prudent, efficient and responsible manner.
According to Dayo-Olagunju, “Stanbic IBTC Asset Management derives a rich heritage from the Standard Bank Group’s over 153 years of experience in risk management and offering excellent services to clients. We will continue to leverage our robust risk management framework to safeguard investments and ensure the best returns to investors.”
Stanbic IBTC Asset Management adds Stanbic IBTC Dollar Fund to its vast array of managed funds which includes: Stanbic IBTC Money Market Fund, currently one of the fastest growing mutual fund in the country today; Stanbic IBTC Nigerian Equity Fund, Nigeria’s largest equity mutual fund; Stanbic IBTC Ethical Fund, Nigeria’s first and largest socially responsible mutual fund; Stanbic IBTC Bond Fund; Stanbic IBTC Guaranteed Investment Fund; Stanbic IBTC Balanced Fund, Stanbic IBTC Imaan Fund, Stanbic IBTC Umbrella Fund and Stanbic IBTC Exchange Traded Fund.
In recognition of this record, the company was adjudged the Best Asset Management Company in Nigeria in 2015 by the Global Banking & Finance Review.
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 presence in 20 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.