- Stanbic IBTC Money Market Fund, one of the six mutual funds managed by Stanbic IBTC Asset Management Limited, has been assigned a fund rating Aa(f) for the fourth consecutive year.
- Agusto & Co, a leading Nigerian rating agency, cited the quality of the prudent investment guidelines and risk management approach adopted in the management of the Stanbic IBTC Money Market Fund with respect to interest rates and credit risks as part of the criteria for the rating. This is the highest rating so far conferred on a mutual fund managed in Nigeria by Agusto & Co.
- The Stanbic IBTC Money Market Fund, which is regulated by Securities and Exchange Commission (SEC), is currently the largest open-ended mutual fund managed by Stanbic IBTC Asset Management. The fund invests its assets in low risk money market securities with financial institutions in Nigeria rated “A” and above by a local rating agency recognized by the Securities & Exchange Commission.
- Chairman, Stanbic IBTC Asset Management Limited, Mr. Yinka Sanni, said the company will continually leverage its robust risk management framework to safeguard its investments and ensure optimal return for investors in the company’s mutual funds. This, he said, is anchored on strict adherence to global best practices by the fund manager.
We are excited at Stanbic IBTC Asset Management Limited that the Stanbic IBTC Money Market Fund has been rated Aa(f) for the fourth consecutive year by Nigeria’s leading credit rating firm. It is a clear recognition that validates the robustness of our risk management framework and dedication to deliver exceptional customer service. We remain steadfast in offering investment options that guarantee respectable returns to unit holders,” Sanni said.
- He added that the fund is geared to rival direct money market placements and has the added advantage of making quarterly distribution of income which is very important for investors who require periodic liquidity.
- Source: The Nation
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