FMDQ OTC lists Stanbic IBTC SIAML funds on its platform

The FMDQ OTC Securities Exchange on Monday admitted the listing of the Stanbic IBTC Dollar, Money Market and Bond Funds (the SIAML Funds) on its platform.
The News Agency of Nigeria reports that SIAML Funds, open-ended Funds, are set to enable investors achieve competitive returns on their assets while safeguarding capital.
It enables investors to invest in low risk short-term securities, high quality government bonds and dollar denominated securities domiciled in Nigeria.
Speaking at the listing in Lagos, 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 its platform.
Sekoni expressed the 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.
Bunmi Dayo-Olagunju, the Chief Executive, Stanbic IBTC Asset Management Ltd, said that it was imperative for investors to diversify their portfolios.
This she noted could be done by investing in mutual funds and other investment vehicles due to volatility in the equities and commodity markets.
Dayo-Olagunju said that attractiveness of mutual funds or collective schemes was derived from the numerous benefits they offer over other investment vehicles.
She said that the benefits included flexibility, liquidity, steady returns, professional management and risk reduction, among others.
Kobby Bentsi-Enchill, speaking on behalf of the FMDQ Registration Member (Listings) and sponsor of the funds said that Stanbic IBTC Capital Ltd had sponsored many listings on FMDQ’s platform.
Bentsi-Enchill said that Stanbic IBTC was excited with the remarkable growth of the fixed income market as this was vital to the creation of liquidity in the market.
He said that the organisation would continue to work with regulators and operators to establish a world-class capital market in Nigeria.
Bola Onadele, FMDQ Managing Director, commenting on the SIAML Funds, applauded the fund manager for its impressive performance in the market.
Onadele stated that FMDQ remained unflinchingly committed to developing the Nigerian financial markets through its highly efficient platform, promoting unrivaled world-class standards to drive transparency, governance and liquidity in the markets.
He said that the funds, among which was the largest open-ended mutual fund in the nation, would benefit from improved credibility.