Two new products, the Stanbic IBTC Dollar Fund (SIDF) and SIAML Pension ETF 40 have been officially opened following the granting of relevant approvals by the Securities and Exchange Commission (SEC) and the Nigerian Stock Exchange (NSE) with Stanbic IBTC Asset Management Limited (SIAML) acting as the fund manager to both funds.
The Stanbic IBTC Dollar Fund provides retail and institutional investors the opportunity to seek exposure in attractive dollar-denominated securities to serve as a devaluation hedge as well as to optimize returns on investments.
On the other, hand the SIAML Pension ETF 40 is an Exchange Traded Fund (ETF) that will mirror the Pension 40 Index (Pension Index), replicating as closely as possible, the total return of the NSE Pension 40 Index.
The Index, launched last year by the Nigerian Stock Exchange to drive market optimization, is a tracking mechanism for investors, particularly institutional investors like Pension Fund Administrators (PFAs), that invest in line with guidelines set out by the National Pension Commission. The NSE Pension Index monitors the top 40 most capitalized and liquid companies in the market.