Today we want to share with you about the Stanbic IBTC Money Market Fund (SIMM) and all its benefits. This money market fund is the largest open mutual fund in Nigeria which is authorized and registered in Nigeria under Section 160 of the Investment & Securities Act no 29 2007. This money market fund invests 100% of its assets in a low risk money market securities with financial institutions in Nigeria that is recognized by local rating agency recognized by the commission.
This money market fund is aimed at investor’s interest in fixed term deposit placements or a hybrid current accounts and are looking to achieve a higher return from their investments which ordinarily is only available to institutional investors. This Fund gives access to a diversified portfolio of money market securities such as treasury bills, guaranteed commercial papers, banker’s acceptance, certificate of deposit and many more fixed income investments with rated financial institutions in Nigeria.
However, if you have an investment amount of N5,000.00, this fund will give you liquidity, capital preservation, flexibility, competitive yields and diversification of your investment portfolio alongside the experience and track record of the stanbic IBTC asset management in the Nigerian financial market.
So What Is The Stanbic IBTC Money Market Fund?
In case you don’t know, the Stanbic IBTC Money Market Fund is a collective investment scheme that invest funds in a wide range liquid short term money market instruments. This money market fund is aimed at achieving a competitive return on its assets while safeguarding investor’s capital, and also by investing in a diversified portfolio of money market instruments in Nigeria.
Here Is How The Stanbic IBTC Money Market Fund Works
How this fund works is that it is formed by pooling funds of several personal and corporate investors that gives the fund greater bargaining power to obtain a higher level of interest rate when invested. This money market fund aims to maximize interest income by investing all its fund assets in a selected short-term money market securities.
- Capital Preservation
- Quarterly income streams
- Suitable for risk averse / near cash investors
- Professional management at an affordable price
- Competitive returns that rival direct money market placements
- Cash flow and liquidity management
- Ease of entry and exit
- Diversification to an existing equity portfolio
- Direct Debit/Standing order convenience
How To Setup The Money Market Fund
For New Subscribers
- You need to fill a subscription form and issue a cheque or draft for the cost of the units you want to apply for.
- Ensure you make a draft payable to Stanbic IBTC Money Market Fund
- Then send the cheque and a completed subscription form and other required documents to any of their offices in Lagos, Abuja, or Port-Harcourt, or any branch of Stanbic IBTC Bank Plc.
But For Existing Subscribers
- You can use a quickteller-enabled ATM
- Or online via https://www.quickteller.com/SIAML
- You can also make direct debit or standing order
- You can also send a cheque and completed purchase order form to any Stanbic IBTC Asset Management office close to you.