SIAML lists 10m units of Pension ETF Fund

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8 years ago

Stanbic IBTC Asset Management Limited (SIAML) has listed 10 million units of its Pension ETF 40 fund on the Nigerian Stock Exchange (NSE) as one of the Exchange Traded Funds (ETF) for trading on its floors.

This marks the first listing in the NSE in the year just as the NSE CEO, Oscar Onyeama, had promised more listings in the Nigerian Bourse this year.

According to Chief Executive, Stanbic IBTC Asset Management Limited (SIAML), Bunmi Dayo-Olagunju, the Pension ETF 40, created to closely replicate the total return of the NSE Pension 40 index Fund, was designed to provide investors access to the most liquid publicly quoted companies on the NSE that are compliant with the regulatory requirements for investing pension assets.

Highlighting some of the benefits of the ETF, Dayo-Olagunju said it would provide investors with a strategic exposure to the equities market, allowing for flexibility, cost effectiveness, diversification of investment, as well as liquidity.

She added that it would act as a benchmark for PFAs to measure performance and report same to Retirement Savings Account (RSA) holders.

In his presentation to stockbrokers and financial journalists, at the Facts Behind the Figures event, Stanbic IBTC Pension ETF 40 on Tuesday, Shuaib Audu, an Executive Director at Stanbic IBTC Asset Management Ltd noted that the fund expects to pay out 90 percent of all of its net earnings to its unitholders every quarter. The fund manager reserves the option to automatically reinvest cash distribution into the fund and issue additional units to unit holders subject to their qualification on the record/closure date, he added.

Onyema SIAML for contributing towards the growth of ETF market, while he advised on the need for investors’ educations as awareness is still low.

He urged stockbrokers to support the product by introducing it to their clients.

Meanwhile, Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has announced major executive appointments and changes in its management structure as part of strategic positioning to sustain its growth into the future.

Yinka Sanni has been named the Chief Executive of Stanbic IBTC Holdings PLC. He takes over from Sola David-Borha, former Chief Executive, who has been appointed Chief Executive, Rest of Africa, Standard Bank Group effective immediately.