Standbic IBTC lists Nigeria’s largest open-ended dollar, money markets, bond funds on FMDQ platform

As a debt-capital focused securities exchange, championing and supporting market-driven initiatives aimed at providing liquidity and facilitating growth and development in the Nigerian financial markets, FMDQ OTC Securities Exchange (FMDQ), through its board listings, Markets and Technology Committee, admitted the listing of the Stanbic IBTC Dollar, Money Market and Bond Funds (the SIAML Funds) on its platform.

The SIAML Funds, which are open-ended Funds, are set to enable investors to 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.

Tumi Sekoni, vice president, Capital Markets Directorate, FMDQ, commended the Fund Manager on the strong and consistent performance of the Funds and on taking the prudent and strategic decision to list the Funds 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 listing was marked by memorable highlights which included, amongst other activities, the signing of the FMDQ Fund Listing Register by the Fund Manager, sponsor of the Funds on the OTC Exchange and FMDQ; the unveiling of the FMDQ Scrolls in favour of the Fund Manager and sponsor; and the special autograph impression by the Fund Manager.

Bunmi Dayo-Olagunju, chief executive, Stanbic IBTC Asset Management Limited, said: “Considering the volatility in the equities and commodities markets, it is imperative for investors to diversify their portfolios by investing in mutual funds and other investment vehicles.” The attractiveness of mutual funds or collective schemes, she said, “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.”

See also: Nigeria opens window for direct power sale to manufacturers under the eligible customer rule

Kobby Bentsi-Enchill, who spoke on behalf of the FMDQ Registration Member (Listings) and sponsor of the Funds on FMDQ, noted that Stanbic IBTC Capital Limited 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.”

Bola Onadele, managing director and chief executive officer of FMDQ, 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.

The funds, among which was the largest open-ended mutual fund in the nation, having availed of FMDQ’s world-class listing service, would benefit from improved credibility, as continuous disclosure of all relevant information to do with the funds was made available to a wide range of investors, Onadele said, adding that the benefits availed the funds listed on FMDQ, would also, by extension accrue to the Fund Manager.

By Kayode Ogunwale