FMDQ Lists Stanbic IBTC Dollar, Money Market and Bond Funds

FMDQ OTC Securities Exchange (FMDQ) yesterday listed the Stanbic IBTC Dollar, Money Market and Bond Funds floated by Stanbic IBTC Asset Management Limited (the SIAML Funds) on its platform. The SIAML Funds, which are open-ended Funds, are set to enable investors achieve competitive returns on their assets while safeguarding capital, by investing in low risk short-term securities, high quality government bonds and dollar denominated securities domiciled in Nigeria.

Welcoming the guests to the listing ceremony in Lagos, Vice President, Capital Markets Directorate, FMDQ, Ms. Tumi Sekoni, commended the fund manager on the strong and consistent performance of the funds and on taking the prudent and strategic decision to list the them on FMDQ’s platform. She reiterated the OTC Exchange’s commitment to support and deepen the Nigerian financial markets by steadfastly availing its platform for the efficient registration, listing, quotation and trading of securities.

The Chief Executive of Stanbic IBTC Asset Management Limited, Mrs. Bunmi Dayo-Olagunju said: “Considering the volatility in the equities and commodity markets, it is imperative for investors to diversify their portfolios by investing in mutual funds and other investment vehicles.”

According to her, the attractiveness of mutual funds or collective schemes is derived from the numerous benefits they offer over other investment vehicles, such as flexibility, liquidity, steady returns, professional management and risk reduction, among others.

Also speaking, Executive Director, Stanbic IBTC Capital Limited sponsor of the funds, Mr. Kobby Bentsi-Enchill, noted the firm had sponsored many listings on FMDQ’s platform. He commented that Stanbic IBTC was excited with the remarkable growth of the fixed income market as this was vital to the creation of liquidity and pledged that the organisation will continue to work with regulators and operators to establish a world-class capital market in Nigeria.

“As a Registration Member (Listings) of FMDQ, Stanbic IBTC Capital Limited is also pleased to have supported the listing of the Stanbic IBTC Bond Fund, Stanbic IBTC Dollar Fund and of course, the Stanbic IBTC Money Market Fund which is the largest open-ended mutual Fund in Nigeria,” he said.

In his remarks, the Managing Director/CEO of FMDQ, Mr. Bola Onadele. Koko applauded the fund manager for its impressive performance in the market and stated that FMDQ remained unflinchingly committed to developing the Nigerian financial markets through its highly efficient platform, promoting unrivaled world-class standards to drive transparency, governance and liquidity, among others, in the markets.

He explained that funds would benefit from improved credibility, as continuous disclosure of all relevant information to do with the funds are made available to a wide range of investors.