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Michael Olafusi

Stanbic IBTC Asset Management Funds: Equity, Ethical, Balanced, SIGIF, Imam & SIMM

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(Originally posted: 25/10/2013)
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Stanbic IBTC Asset Management is the leading wealth management firm in Nigeria.

It provides mutual funds nearly everyone can invest in/through; asset/portfolio management for high net worth individuals, and other wealth management services.

But in today's post, I'll share only the mutual fund services.

Stanbic IBTC Nigerian Equity Fund (SINEF)

This is Stanbic IBTC's Equity Mutual Fund, and is the biggest in Nigeria. An Equity Mutual Fund is a pool of fund from several individual and corporate investors, invested majorly in the stock market.

Here are the details of the Fund --

  • The Fund was started in 1997.
  • Initial Price: N1,000 (Nominal Value)
  • Portfolio Allocation : Maximum 25% Fixed Income Securities, Minimum 75% Capital Market
  • Minimum Investment: N50,000 and subsequent investment of N20,000.00
  • For investment account opening details visit Stanbic IBTC Nigerian Equity Fund
Stanbic IBTC Ethical Fund (SIEF)
 
This is structurally same as the SINEF; only difference is that SIEF doesn't invest in Breweries and Tobacco companies.
 


Here are the details of the Fund --

 
  • The first Ethical fund to be launched in the history of the Nigerian capital market (started in 2005)
  • Allows subscribers to invest in the capital market without compromising their religious beliefs and principles
  • Initial Price: N1 (Nominal Value)
  • Invests at least 75% of its assets in selected equities of Nigerian quoted companies, while retaining a maximum of 25% in quality fixed income securities
  • Minimum Investment: N50,000 and subsequent investment of N20,000.00
  • For investment account opening details visit Stanbic IBTC Ethical Fund
Stanbic IBTC Balanced Fund (SIBAL)
 
This is a less aggressive version of the SINEF. It allows for more investment in Fixed Income than the SINEF. It's the child of the NSE 2008 crash.
 
Here are the details of the Fund --
  • The Fund was started in 2009.
  • Initial Price: N1,000 (Nominal Value)
  • Portfolio Allocation: Maximum 60% Equities, Minimum 40% Fixed Income
  • Minimum Investment: N50,000 and subsequent investment of N20,000.00
  • For investment account opening details visit Stanbic IBTC Balanced Fund
Stanbic IBTC Guaranteed Investment Fund
 
This is a special mutual fund that guarantees your principal (initial investment) after 3 months. It's structurally a Fixed Income investment with a small mix of Equity investment.
 
Here are the details of the Fund --
  • The Fund was started in 2007.
  • Principal investment guaranteed after three months
  • Initial Price: N100 (Nominal Value)
  • Invests a minimum of 75% of its assets in quality fixed income securities, while retaining a maximum of 25% in selected equities of Nigerian quoted companies.
  • The minimum initial investment is N50,000, and subsequent investments of N20,000.00
  • For investment account opening details visit Stanbic IBTC Guaranteed Investment Fund
Stanbic IBTC Iman Fund
 
This is specially designed for Islamic investors. It invests in non-interest fixed income securities and Shariah Compliant Equities.
 
Here are the details of the Fund --
  • The Fund was registered with SEC in 2013.
  • Initial Price: N100 (Nominal Value)
  • Portfolio Allocation: Minimum 70% in Shariah Compliant Equities, Maximum 30% non-interest fixed income securities (i.e. Sukuk)
  • The minimum application: N50,000 and subsequent investments of N50,000.00
  • For investment account opening details visit Stanbic IBTC Iman Fund
Stanbic IBTC Money Market Fund
 
This is a money market fund. Money market funds invest in short-term debt securities like Treasury bills, commercial papers, repurchase agreements, certificates of deposit and banker's acceptance. (Maybe someday, I'll explain them)
 
Here are the details of the Fund --
  • The Fund started in 2010.
  • Initial Price: N100 (Nominal Value)
  • Portfolio allocation : 100% Money Market investments
  • Minimum investment : N50,000.00 and subsequent investment of N50,000.00
  • For investment account opening details visit Stanbic IBTC Money Market Fund
 
There is one more, the Stanbic IBTC Bond Fund. But I can't find its details anymore on the Stanbic website. It's primarily invested in Bonds. You could search through Stanbic IBTC Asset Management website, you might be lucky and find its details.
 
And that's all!

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Hi Michael,

Nice write up. I wanted to find out what you know and what is your take on the  CORDROS MONEY MARKET FUN. It is currently bid and offer price is N100. With a yeild of 15.1 %.

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10 hours ago, Osasoje said:

Hi Michael,

Nice write up. I wanted to find out what you know and what is your take on the  CORDROS MONEY MARKET FUN. It is currently bid and offer price is N100. With a yeild of 15.1 %.

Hi Osasoje,

I don't have any specific details about Codros Money Market Fund but, luckily, all money market fund operate on same principle. They invest in short duration loans and bonds and closely track the FGN 91 days bond (Treasury Bills) which is at about 15%. 

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