By WILLIAM JIMOH
For the second year in a row, Stanbic IBTC Money Market Fund which is managed by Stanbic IBTC Asset Management has been rated a safe investment vehicle with minimal exposure to downside risk, an indication of the safety of funds it manages on behalf of its clients.
Agusto and Co, who rated the risk associated with investing in the Fund, assigned Stanbic IBTC Money Market Fund ‘Aa(f)’, same as they did last year.
”Based on our review of the Fund’s portfolio holdings over the past 12 months, and our meeting with principal officers of Stanbic IBTC Asset Management, the Agusto & Co rating committee has affirmed the Fund risk rating of ‘Aa(f)’ assigned to Stanbic IBTC Money Market Fund (the Fund). The rating is valid until November 2013,” stated the rating agency. In assigning Stanbic IBTC Money Market Fund with ‘Aa(f)’, the rating agency also stated that the fund has “minimal to low exposure to downside risk (impairment to the net asset value) in the medium term”.
Amongst the factors considered in giving the Fund this positive rating were; the relatively conservative exposure to credit, interest rate and liquidity risks; a robust investment guideline; a diversified investor base; no currency exposure; a highly experienced and capable management team and a dynamic investment process, which the rating agency described as well established with a strong track record.
Mr. Olumide Oyetan, CEO of Stanbic IBTC Asset Management, manager of the Fund, said the positive rating is an affirmation of the company’s well established and highly regarded track record in consistently ensuring that investors’ funds are protected and also earn competitive returns.
“To have been rated very highly in two consecutive years is a reflection of the extent we go to ensure that investors’ funds keep earning attractive returns while the principal is not exposed to unnecessary risks,” said Mr. Oyetan.
Stanbic IBTC Asset Management Limited, a subsidiary of Stanbic IBTC Holdings Plc, a member of Standard Bank Group, and Nigeria’s leading fund manager, with assets under management of over N100 billion.
“The rating highlights Stanbic IBTC Holdings Plc’s long term strategic objective of being the leading financial solutions provider in all the market segments in which it operates through its various subsidiaries”, said Mrs. Sola David-Borha, CEO of Stanbic IBTC Holdings Plc.
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