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Stockbrokers endorse N5bn SIM Capital Alliance Value Fund

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By Peter Egwuatu
Stockbrokers have expressed confidence in the ongoing N5 billion SIM Capital Alliance Value Fund, stressing that the Offer would be fully subscribed and urged investors to seize the opportunity to invest as the market gradually rebounds.

The stockbrokers commended the promoters of the Fund for taking bold step in coming to the stock  market at this period that investors confidence is gradually returning to the market.

SIM Capital Alliance Limited, a joint venture between Capital Alliance Nigeria and Sanlam Investment Management won the commendation of stockbrokers at a forum held Monday, 04 October 2010 in respect of the Initial Public Offering (“IPO”) of the SIM Capital Alliance Value Fund.

The event, which was organized by the Issuing House to the IPO, Stanbic IBTC Bank PLC took place at The Nigerian Stock Exchange (“The NSE”) Headquarters, Marina, Lagos. The Fund opened on Monday, 30 August 2010 and is expected to close on Thursday, 14 October 2010.

Subscription forms for the offer are available at all branches of Stanbic IBTC, a member of the Standard Bank Group, the sole Issuing House/Receiving Bank to the IPO. First Registrars Nigeria Limited is the Registrar, while Stanbic IBTC Stockbrokers Limited is the Stockbroker to the Offer.

According to the Fund Manager, Mr. Steve Iwenjora, the Fund is targeted at value approach investors with a long term horizon, including institutional investors, savings and investment clubs as well as high net worth and retail investors.

He stated that the primary objective of the Fund is to achieve long-term capital growth by investing in companies listed on The NSE, thus enabling investors gain exposure to a concentrated portfolio of value stocks offering above average growth potential.

The Fund may also invest in fixed income securities and in unlisted equities, once the Asset Class has been approved by the Securities and Exchange Commission. He noted that SIM Capital Alliance Limited will also benefit from the pedigree and experience of its promoters, Capital Alliance Nigeria and Sanlam Investment Management in making profitable investments in the Nigerian market.

The Managing Director, Stanbic IBTC Stockbrokers Limited, Mr. Akeem Oyewale, said investors should seize this rare opportunity to invest in the Fund to benefit from the competitive returns they stand to gain from the disciplined investment approach.

He added investors’ risks would be minimized as a result of portfolio diversification as the Fund will also invest in unlisted equities once they are approved by the Industry’s Apex regulator.

Stanbic IBTC Bank PLC is a full service universal bank with a clear focus on three main business pillars – Corporate and Investment Banking, Personal and Business Banking and Wealth Management – which leverage on its industry expertise and international presence in 18 African countries (including Nigeria) and 21 countries outside Africa including Europe, Asia, Middle East, USA and Latin America to provide financial solutions to clients.

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