Stanbic IBTC Asset Management Limited, a member of Stanbic IBTC Holdings Plc, introduced a Stanbic IBTC Dollar Fund (SIDF) into the Nigeria market, in a bid to provide retail and institutional investors the opportunity to deal with loss of wealth as a result of the sustained pressure on the naira.
The product (SIDF) is also to assist investors to seek exposure in attractive dollar denominated securities in order to serve as a devaluation hedge as well as to optimize returns on investments
Financial mirror notes that SIDF brings to eleven the number of Funds managed by the company.
According to Mrs. Bunmi Dayo-Olagunju, Chief Executive of Stanbic IBTC Asset Management, “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”.
“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 bank in a statement noted that 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.
In Olagunju words, he noted that “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 00000 maximum benefits”.
He 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 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.”
He noted that Stanbic IBTC Asset Management adds Stanbic IBTC Dollar Fund to its vast array of managed funds which includes: Stanbic IBTC Money Market Fund, adding that it is currently one of the fastest growing mutual fund in the country today.