The Stanbic IBTC Money Market Fund (“the Fund”) is an open ended Unit Trust Scheme authorized and registered in Nigeria under Section 160 of the Investment & Securities Act no 29 2007 .The Fund is to invest 100% of its assets in low risk money market securities with financial institutions in Nigeria rated “A” and above by a recognized local rating agency recognized by the commission.
The Fund is aimed at investors interested in fixed term deposit placements or hybrid current accounts and are looking to achieve higher returns from such investments which ordinarily is only available to “institutional” investors. The Fund offers access to a diversified portfolio of money market securities such as Guaranteed Commercial Papers, Treasury Bills, Bankers Acceptance, Certificate of Deposit and other fixed income investments with rated financial institutions in Nigeria.
The primary objective of the Fund will be achieved by utilising the bargaining power that is obtained from pooling of funds to actively invest in a portfolio of short term money market securities and government papers. The fund also offers an opportunity for parents/ Guardian to subscribe to units of the fund on behalf of and in the name of minors like all the other Stanbic IBTC Mutual Funds. The Fund also enables foreign investors to subscribe and repatriate their redemption proceeds at the prevailing official foreign exchange rate.
With a minimum investment amount of N50,000.00, the Fund offers investors Liquidity, Capital Preservation, Competitive Yields, Flexibility and Diversification of their investment portfolio alongside the experience and track record of Stanbic IBTC Asset Management in the Nigerian financial market.
The Initial Public Offering of the Stanbic IBTC Money Market Fund (download prospectus) of 10,000,000 units at N100.00 per unit at par payable in full on Application opened on Monday, 16 November 2009 and closed on Friday, 20 November 2009.
Summary
Initial Price: N100 (Nominal Value)
Portfolio Allocation
100% Money Market Investments
Minimum Investment: N50,000 and subsequent investment of N50,000.00
Subsequent investments can be made via Direct Debit
How to Invest in The Stanbic IBTC Money Market Fund
Fill in a Subscription Form and issue a cheque or draft for the cost of Units applied for.
Please make the cheque / draft payable to Stanbic IBTC Money Market Fund
Send the cheque/ bank draft and completed Subscription Form and other documents to any of our offices in Lagos, Abuja, or Port-Harcourt, or any branch of Stanbic IBTC Bank Plc.
Market View is constructive as bull case strengthens
During the week, the merger scheme between Benue Cement Company plc (BCC) and Dangote Cement plc (DCP, formerly Obajana Cement) was published. The document states that DCP will be offering minority shareholders in BCC one of its ordinary shares for two of BCC’s ordinary shares and that DCP’s shares will be listed and traded on the NSE from 5 November 2010. The market has reacted positively – BCC’s stock climbed 4% last week. We expect this sentiment to continue this week, although gains could be limited to NGN67.50 (4% upside) – BCC’s reference price for this transaction....
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