Frequently Asked Questions

 How does a Mutual Fund work?     

 Mutual Fund is formed by pooling funds of several individual and corporate investors which gives the Fund greater “bargaining power” to obtain favourable yields when investing. The Fund aims to maximize yield by investing  the Fund’s assets in selected asset classes based on the investment objectives of the pool.

 Is there a guaranteed Rate of Return on a Mutual Fund investment?    

 No. The return on the Fund is dependent on money market trends and yields obtainable in the Nigerian Financial Market. As the Fund Manager has no influence over changes in yields, it is therefore impossible to guarantee any particular rate of return on the investment.

What is the procedure for redemptions?

You will be required to complete a Redemption Form and return to the Fund Manager. Once these documents have been verified, the redemption request will be processed within 3 - 5 business days.

Can I redeem my funds online?

Yes you can redeem your funds online after you have duly completed and executed an online consent and redemption agreement. Online redemptions are processed within  24 - 48 hours.

Are there any penalties for withdrawing my funds?

Yes,  redemptions initiated within the holding period of the fund (between 30 days to 182 days depending on the particular mutual fund) are subject to a 20% penal charge on only the interest accrued by the amount to be withdrawn

Where can I get a subscription/redemption Form from?

The forms are available at all branches of Stanbic IBTC Bank Plc and Stanbic IBTC Asset Management Limited at no cost to subscribers. The forms can also be downloaded from our website www.stanbicibtcassetmanagement.com.

How do I make additional subscriptions?

Additional subscriptions can be initiated by either making a direct transfer to the bank account of the mutual fund your wish to top up while ensuring to quote your e-account number as your narration. If the payment is made before 12 noon on a working day with your mutual fund e-account number as a part of your narration, you will be credited at the end of that day. However, if the payment is made after 12 noon or on a weekend the funds will be applied into your account at the end of the next working day.   Alternatively you can top up your investment account using your debit card either on our mobile application or web portal. This second option attracts a transaction fee of up to a maximum of 1.5% of the amount to be invested and relfects after two working days

What is the minimum initial amount that can be invested?

The minimum initial amount that can be invested in Naira Mutual Funds is N5,000 while the initial amount that can be invested in the Dollar mutual fund is $100.00

What is the minimum subsequent amount I can invest?

The minimum subsequent amount that can be invested in Naira Mutual Funds is N5,000 while the minimum subsequent amount that can be invested in the Dollar mutual fund is $100.00.

What is the minimum amount I can withdraw from the investment?

The minimum amount that can be withdrawn in Naira Mutual Funds is N5,000 while the minimum amount that can be withdrawn in the Dollar mutual fund is $500.00

What is the procedure for Foreign Investors to invest?

As a Foreign Investor, all you need to do is, make a payment into our foreign bank account (details of which are given on the back of the Purchase Order Form and our website) and then forward a scanned copy of the completed Form to [email protected]. The purpose of the funds being transferred must be stated on the SWIFT message i.e “Investment in Mutual Fund” to enable a Certificate of Capital Importation (CCI) be issued. The prevailing exchange rate on the day the funds are received into our account will be applied to convert the funds to naira. When the subscriber sends a fax or scanned copy of their form, please note that he/she will not be required to send the original form. The Foreign investors can also repatriate the funds upon submission of their CCI and other redemption documents when redeeming.

Can I invest for my children and my investment club?

Yes, it is possible to invest for minors, clubs and groups.

A group of us would like to subscribe jointly. How do we go about it?

You can apply as a corporate body/entity or make a joint application (for up to a maximum of four individuals) depending on the nature of the group. Please note that the Purchase Statement and any subsequent distribution or redemption proceeds will be issued in the name of the applicant(s), that is, the company, entity or joint name. These persons would have to determine how such should be shared.

Do I get a receipt or certificate?

Yes, an e-certificate confirming your payment will be forwarded to you within 5 working days of each subscription into the each mutual fund.

How do I monitor my investment?

The daily prices are available in leading Nigerian newspapers on weekdays as well as our website, www.stanbicibtcassetmanagement.com. As a unitholder of the Fund, it is also possible to view your account online by logging on to www.stanbicibtcfundsmanagement.com or logging on to our mobile application to view your account balance and activities.

How do I calculate the value of my investment?

At any point in time, the value of your investment = Number of units held X Current Bid Price per unit (which will be available in leading Nigerian newspapers or on our website, www.stanbicibtcassetmanagement.com.

Can I transfer my units to another party?

No, your units cannot be transferred directly to any other customers account 

Do I have control over what the Mutual Fund invests in?

No. The Fund Manager, Stanbic IBTC Asset Management, makes all the investment decisions based on guidelines set out in the Fund’s Trust Deed.

Can I use my holdings in the Stanbic IBTC Money Market Fund as collateral for a loan?

Yes, many banks will accept units of the Fund as collateral for bank loans. However, this depends on each bank’s lending policy.

How long should I stay invested in the Mutual Fund?

The Fund is open-ended and there is no minimum period of participation.

Do the Mutual Fund pay dividends?

The mutual funds pay dividend based on their performance over the previous year and at the discretion of the fund manager, any dividend payment will be announced to our customers and the public.

I have not received the the income distribution on my Mutual Fund investment. What do I do?

Receiving income distribution on your Money Market Fund investment is dependent on your distribution mandate; which could either be for us to re-invest back into your fund or to transfer to bank account provided. If your mandate is for us to re-invest, then you are not entitled to distributions. On the other hand if your mandate is to “transfer to bank account provided”  then you have to execute a mandate form for your account to be credited going forward., please fill our feedback form or send an email to [email protected] .

I invested in the mutual fund but yet to receive evidence of my investment.

Please let us know by filling our Feedback Form or send an email to [email protected] and we’ll respond to you within 48 hours.

I observed that my name was wrongly spelt on my investment or my online account.

Kindly send an email to [email protected] or fill our Feedback Form and we will contact you within 24 hours.

 I submitted my request for the redemption of my investment but I am yet to receive the proceeds of my redemption.

Hardcopy redemptions are processed within five (5) working days from the date your request is received by us. However the redemption process can extend beyond five (5) working days if there are inherent challenges with the redemption process; in which case you would have been contacted by one of our officers. In the event that this is not the case and are yet to receive the proceed of your redemption, please call 01-2805595.

I have changed my name; how do I effect this change on my mutual fund investment details?

Simply do a formal letter requesting for a change of name and submit same at our office address or any branch of Stanbic IBTC Bank Plc closest to you. However, please note that this letter is to be supported with the following documents; Newspaper publication of change of name Marriage certificate (where applicable) Sworn Affidavit of change of name Bankers’ Confirmation Letter

What are the benefits of the Stanbic IBTC Nigerian Equity Fund (SINEF)?

Professional Fund Management
Online Access
Diversification of portfolio
Risk Mitigation

What does the Stanbic IBTC Nigerian Equity Fund (SINEF) invest in?

The fund invests a minimum of 70% in equity securities quoted on the Nigerian Stock Exchange (NSE)  and maximum 30% in high quality fixed income
securities

What are the benefits of the Stanbic IBTC Ethical Fund (SIEF)?

Professional Fund Management
Online Access
Diversification of portfolio
Risk Mitigation
Socially Responsible investment

What does the Stanbic IBTC Ethical Fund (SIEF) invest in?

The fund invests a minimum of 70% in equities of socially responsible companies quoted on the Nigerian Stock Exchange (NSE)  and maximum 30% in fixed income securities 

What are the benefits of the Stanbic IBTC Imaan Fund (SIMAAN)?

Professional Fund Management
Online Access
Diversification of portfolio
Risk Mitigation
Sharia complaint investment

What does the Stanbic IBTC Imaan Fund (SIMAAN) invest in?

The fund invests 70% - 100% in Shari’ah compliant equities and 0 - 30% in non-interest earning fixed income securities (Sukuk, cash)  

What are the benefits of the Stanbic IBTC Balanced Fund (SIBAL)?

Professional Fund Management
Online Access
Diversification of portfolio
Risk Mitigation

What does the Stanbic IBTC Balanced Fund (SIBAL) invest in?

The fund invests 40% - 60% in both quoted and un-quoted equity securities & 40% - 60% in high quality fixed income securities (with min of 20% in Bonds). 

What are the benefits of the Stanbic IBTC Dollar Fund (SIDF)?

Currency diversification
Professional Fund Management
The fund can be used to secure a loan with Stanbic IBTC Bank
The Fund mitigates investment risk by allocating capital across a diverse range of foreign currency assets thus avoiding concentration risk.
Online Access

What does the Stanbic IBTC Dollar Fund (SIDF) invest in? 

The fund invests a minimum of 75% in Eurobonds, Maximum of 30% in Money Market Instruments and a maximum of 10% in equities

What are the benefits of the Stanbic IBTC Guaranteed Investment  Fund (SIGIF)?

Competitive returns
Professional Fund Management
Online Access
Capital preservation (when investing for at least three months)
The fund allows you to participate in any upside gains in the capital market whilst limiting your downside risk i.e. risk to your principal investment

What does the Stanbic IBTC Guaranteed Investment  Fund (SIGIF) invest in?

The fund invests a minimum of 70% in Bonds, maximum of 10% in Equities and maximum of 30% in Money Market instruments

What are the benefits of the Stanbic IBTC Money Market Fund (SIMM)?

Competitive returns
Professional Fund Management
Online Access
Funds can be used to secure a loan with Stanbic IBTC Bank
Capital preservation

 What does the Stanbic IBTC Money Market Fund (SIMM) invest in?

 The fund invests a 100% Money Market Instruments (such as treasury bills, commercial papers, banker’s acceptance e.t.c.) 

What are the benefits of the Stanbic IBTC Sharia Fixed Income Fund?

Competitive returns
Professional Fund Management
The funds can be used to secure a loan with Stanbic IBTC Bank
Sharia complaint investment
Access to view your account online

What does the Stanbic IBTC Sharia Fixed Income Fundinvest in?

The fund invests a minimum of 70% in Sukuk Bonds, Maximum of 30% in Shari’ah compliant fixed term Investments