FMDQ marks listing of Stanbic IBTC Dollar, Money Market, Bond Funds

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 or the OTC Exchange), 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 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.

To formally welcome the listing of the SIAML Funds, a Ceremony was held on Monday, February 12, 2018, at the FMDQ offices, where the OTC Exchange played host to the Manger of the Funds, Stanbic IBTC Asset Management Limited, represented by its Chief Executive, Mrs. Bunmi Dayo-Olagunju and the FMDQ Registration Member (Listings) and sponsor of the Funds on FMDQ, Stanbic IBTC Capital Limited, represented by its Executive Director, Mr. Kobby Bentsi-Enchill. Also present at the Ceremony were key representatives from Stanbic IBTC Nominees Limited and investors to the Funds – South Atlantic
Petroleum Limited, YOA Insurance Brokers, Nigerian Agip Closed PFA Limited, Chevron Closed PFA Limited, amongst others.

Welcoming the guests to the Ceremony, Ms. 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.

In FMDQ’s typically unique and impressive fashion, the Ceremony was marked by memorable highlights which included, amongst other activities, the signing of the FMDQ Fund Listing Register by the FundManager, 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.

Mrs. Bunmi Dayo-Olagunju, Chief Executive, Stanbic IBTC Asset Management Limited, during the Fund Manager’s special address, stated, “Considering the volatility in the equities and commodity 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.”

Speaking on behalf of the FMDQ Registration Member (Listings) and sponsor of the Funds on FMDQ, Mr. Kobby Bentsi-Enchill, during his remarks, 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”.

Mr. Bola Onadele. Koko, the Managing Director/CEO of FMDQ, commenting on the SIAML Funds, applauded the Fund Manager for its impressive performance in the market and stated that FMDQ remained unflinchingly committed to developing the Nigerian financial marketsthrough its highly efficient platform, promoting unrivaled world-class standards to drive transparency, governance and liquidity, among others, in the markets.

He commented that the Funds, among which was the largest open-ended mutual Fund in the nation, having availed on 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. The benefits availed the Funds listed on FMDQ, would also, by extension accrue to the fund manager.