Stanbic IBTC fund gets AA rating
Stanbic IBTC Money Market Fund, a fund managed by Stanbic IBTC Asset Management Limited has received an AA(f) rating by Agusto & Company.
According to the ratings firm, the rating denotes a fund with “minimal exposure to downside risk (that is, impairment of the net asset)”.
A statement by the company, on Tuesday, noted that this was one of the highest ratings conferred on a mutual fund managed in Nigeria.
According to the statement, the fund, which is one of the six funds managed by Stanbic IBTC Asset Management, is ideal for conservative investors attempting to optimise cash balances that may be required in a short period of time.
“The Fund has a capable investment management team with an average of 10 years financial services experience and a well established investment process,” the statement noted.
The Chairman of Stanbic IBTC Asset Management Limited, Mr. Yinka Sanni, said the company would continue to leverage its robust risk management framework to safeguard and ensure optimal return on investment for investors in the company’s Mutual Funds.
He noted that this was anchored on strict adherence to global best practices by the fund manager.
He said, “Stanbic IBTC Asset Management Limited is committed to implementing initiatives that improve corporate governance for the benefit of all stakeholders. We remain steadfast in implementing governance practices that comply with international best practice.”
The Chief Executive Officer, Stanbic IBTC Asset Management, Mr. Olumide Oyetan, said, “The Stanbic IBTC Money Market Fund is a collective investment scheme that invests in a wide range of very liquid short-term money market instruments, such as Guaranteed Commercial Papers, Bankers’ Acceptance, Term Deposits and Certificates of Deposit, among others, with domestic banks in Nigeria.”
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Anonymous
February 1, 2012 at 10:27 am
THIS COMPANY IS GOOD.
TESTED AND TRUSTED .
NOT LIKE FIRST BANK AND ITS LIKES WHO FEEL THEY ARE INVESTING IN OIL AND GAS OFFSHORES SO COSTUMERS MEANS NOTHING TO THEM.
THERE SUBSIDY CREED IS GONE .
APART FROM THERE BANKS RATS ,AND UN ECTHICAL ATTITUDE TO COSTUMERS, FBN WORKERS LENDING BLACK MARKETS MONEY INSIDE THE BANKS WITH HUGE INTREST % AS HIGH AS 35%.
FIRST BANK NEEDS TO IMPROVE.
I CALL ON NIGERIANS TO LEAVE FIRST BANK .
FOCUS ON MORE FRIENDLY BANKS