Stanbic IBTC Money Market Fund crosses N50bn mark ……. VANGUARD

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Stanbic IBTC Holdings Plc’s Money Market Fund has hit the N50 billion marks in Net Asset Value.

The Stanbic IBTC Money Market Fund(SIMM), managed by Stanbic IBTC Asset Management, a subsidiary of Stanbic IBTC Holdings, achieved this milestone in October 2015 and further burnished its position as the largest listed fund in the country.

The latest report on collective investment schemes by the Securities and Exchange Commission, the industry regulator, showed that Stanbic IBTC Money Market Fund has N50.19 billion, representing 22 per cent of the N230 billion Nigerian Collective Investment Scheme/Mutual Fund market in assets under management in the week to Friday, 16 October 2015, with an effective yield of 12.45 per cent.

Stanbic IBTC Asset Management  described the milestone, as an industry first, which the five-year old Fund accomplished after a period of consistent growth, as an indication that investors view the Fund as an investment haven, one with a history of consistent and exceptional returns to its subscribers.

Chief Executive, Stanbic IBTC  Asset Management, Bunmi Dayo-Olagunju, said the historic N50 billion mark not only demonstrates the Fund’s leadership position in the industry, but also shows the level of expertise and commitment by the fund managers to ensure safety of invested funds while enhancing returns.

“This is an important milestone for us. The Fund is just five years old, and to have achieved asset under management of over N50 billion is a remarkable feat, which highlights the solidity and competencies of Stanbic IBTC Asset Management as Nigeria’s leading asset management company,” Dayo-Olagunju said.

Stanbic IBTC Money Market Fund, established in 2010,  invests 100 per cent of its assets in fixed income investments,  including treasury bills, money market placements, commercial papers and other instruments  approved by SEC.

The Fund  has consistently paid dividends to its subscribers since inception. Other funds managed by Stanbic IBTC Asset Management include: Stanbic IBTC Nigerian Equity Fund; Stanbic IBTC Bond Fund; Stanbic IBTC Guaranteed Fund; Stanbic IBTC Balanced Fund; Stanbic IBTC Ethical Fund; Stanbic IBTC Imaan Fund; Stanbic IBTC Conservative Fund; Stanbic IBTC Absolute Fund; Stanbic IBTC Aggressive Fund; and Stanbic IBTC ETF 30 Fund.