STANBIC IBTC money market Fund has crossed N50 billion marks in net asset Value.
Managed by Stanbic IBTC Asset Management, a subsidiary of Stanbic IBTC Holdings, a statement explained that the milestone was attained in October 2015, which further positioned it as the largest listed fund in the country.
The latest report on collective investment schemes by the Securities and Exchange Commission, the industry regulator, showed that Stanbic IBTC Money Market Fund has N50.19 billion, which represent 22 per cent of the N230 billion Nigerian Collective Investment Scheme (CIS) or Mutual Fund market in assets under management as at Friday, October 16 2015, with an effective yield of 12.45per cent.
The company described the achievement as an industry feat, which the five-year old Fund accomplished after a period of consistent growth.
The Chief Executive, Stanbic IBTC Asset Management, Bunmi Dayo-Olagunju explained that the N50 billion mark not only demonstrates the Fund’s leadership position in the industry but also shows the level of expertise and commitment by the fund managers to ensure safety of invested funds while enhancing returns.