Stanbic IBTC Money Market Fund gets Aa rating

In recognition of its steady performance and prudent management, Stanbic IBTC Money Market Fund, one of the six mutual funds managed by Stanbic IBTC Asset Management Limited and regulated by the Securities and Exchange Commission (SEC) has been assigned a fund rating Aa(f) for the fourth consecutive year.

The evaluation by foremost Nigerian credit rating agency, Agusto and Co., is based on the quality of the prudent investment guidelines and risk management approach adopted in the management of the Stanbic IBTC Money Market Fund with respect to interest rates and credit risks. This is the highest rating so far conferred on a mutual fund managed in Nigeria by Agusto and Co.

The Stanbic IBTC Money Market Fund is currently the largest open-ended mutual fund managed by Stanbic IBTC Asset Management. The fund invests its assets in low risk money market securities with financial institutions in Nigeria rated “A” and above by a local rating agency recognized by the SEC.

According to Agusto and Co., the rating denotes a fund with “minimal exposure to downside risk ( impairment of the net asset)”. The rating for the fund, which was established in 2009, was also supported by the good quality of the underlying assets which are in line with SEC guidelines for money market funds.

Chairman of Stanbic IBTC Asset Management Limited, Yinka Sanni, said the company will continually leverage its robust risk management framework to safeguard its investments and ensure optimal return for investors in the company’s mutual funds. This, he said, is anchored on strict adherence to global best practices by the fund manager.

“We are excited at Stanbic IBTC Asset Management Limited that the Stanbic IBTC Money Market Fund has been rated Aa(f) for the fourth consecutive year by Nigeria’s leading credit rating firm. It is a clear recognition that validates the robustness of our risk management framework and dedication to deliver exceptional customer service.