Stanbic IBTC Asset Management Floats ETF 40 and Dollar Funds (2)
By Goddy Egene
The Chief Executive of Stanbic IBTC Asset Management Limited (SIAML) Bunmi Dayo-Olagunju has said the two products being floated by the company, Stanbic IBTC Dollar Fund and SIAML Pension ETF 40 will foster the diversification of portfolios and investments in these volatile times.
Speaking on the Stanbic IBCT Dollar Fund, she said: “We believe that even in these volatile times, the Fund will foster the diversification of portfolios and investments in currency terms, which in turn will help in the preservation and appreciation of wealth for investors.”
On the second products, Dayo-Olagunju stated that the primary objective of the SIAML Pension ETF 40 is to provide investors access to the most liquid publicly quoted companies on the NSE that are compliant with the regulatory requirements for investing pension assets in terms of taxable profits, free float, dividend, sector and individual stock weighting.
“The SIAML Pension ETF 40 is designed as an instrument of choice for PFAs, Life Assurance companies, institutional investors, as well as foreign portfolio managers who are desirous of the Nigerian exposure with minimal liquidity and exit risk,” Dayo-Olagunju stated.
Highlighting some of the benefits of the ETF, Dayo-Olagunju said it would provide investors with a strategic exposure to the equities market, allowing for flexibility, cost effectiveness, diversification of investment, as well as liquidity. She added that it would act as a benchmark for PFAs to measure performance and report same to Retirement Savings Account (RSA) holders.
She assured that SIAML will continue to leverage its expertise in asset and wealth management, built over the past 20 years, as well as the Stanbic IBTC Group’s rich heritage in corporate and investment banking to provide quality products and services that will not only deepen the market but enhance transparency, add value and lead to investor confidence.
Also speaking, the Chief Executive, Stanbic IBTC Capital Limited, Mr. Funso Akere, commended SIAML for its efforts in deepening the Nigerian capital market through the introduction of new and innovative products with specific characteristics to meet the needs of various market categories.
Apart from SIAML as the fund manager, First Registrars and Investor Services Limited will serve as the registrar while Stanbic IBTC Capital is the issuing house. Stanbic IBTC Stockbrokers Limited is the authorized dealer; FBN Trustees Limited will serve as trustees while Standard Chartered Bank is the offer custodian.
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. Standard Bank Group has been in operation for 153 years and has direct, on-the-ground representation in 20 African countries.