For those of you that have been asking me how to invest in stanbic ibtc mutual funds, this post contains every details that you needed, irrespective of the lockdown.
The good news about investing in stanbic mutual funds is that you can do that through online.
The bank made a provision that any interested investor can invest in their mutual funds through online, without visiting the bank.
What is Stanbic IBTC Mutual Funds
Stanbic IBTC Mutual Funds are financial instruments that allow a group of investors to pool their monies with a predetermined investment objective.
Generally you can say that mutual fund is a type of short term investment, whereby a firm, organization or a financial institution pools cash from different investors for the purpose of investing in the money or capital market
Stanbic ibtc bank is one of the best providers of mutual funds, and theirs is from the money market.
There are lot’s of them out there, good one’s and average one’s, but stanbic ibtc seemed to offer the best to it’s customers or investors.
The mutual fund is one of Stanbic IBTC Asset Management Limited (SIAML).
I noticed that the bank recently introduced a new one called the Stanbic IBTC Money Market Fund (SIMM).
This is the one that i’m going to talk about on this blog post.
The stanbic ibtc money market fund (simm) offers a relatively cheap form of money investment.
With just N5000, you can invest in the Stanbic IBTC Money Market Fund (SIMM).
That’s the minimum amount that an investor can invest in the bank. I will say that this is actually the best stanbic ibtc mutual funds.
The Stanbic IBTC Money Market Fund (SIMM) caters for investors with low risk appetite who don’t want exposure to the capital market but require the liquidity and competitive returns available in fixed income markets.
Stanbic IBTC Money Market Fund (SIMM) invests 100% of its asset in quality money market instruments.
These money market instruments includes the Treasury Bills, Commercial Papers, Bankers’ Acceptances and Fixed Deposits with banks that are rated not less than “A”.
The primary objective of the Stanbic mutual funds Money Market Fund (SIMM) is to achieve attractive returns of current income.
That is consistent with capital preservation by pooling funds for a stronger bargaining power in low-risk short-term securities whilst offering security, diversification and liquidity.
How does stanbic ibtc mutual funds work
Like i said, the minimum amount required from an investor is just five thousand naira, and there’s no maximum amount.
This isn’t like treasury bills whereby an investor can’t add extra fund to money already invested. On stanbic ibtc mutual funds, an investor can add funds to it’s investment.
The minimum tenor for the investment is thirty days which is one month, and the maximum tenor is 365 days which is one year.
The current yield for Stanbic IBTC Money Market Fund (SIMM) is 5.41% per annum (one year) and this is as at 25 April 2020.
At the end of the tenor, you can only withdraw your stanbic mutual funds through online via the bank website, or through their mobile banking app.
- Competitive returns.
- Daily interest earning
- Diversification of investment portfolio
- Minimum investment of #5,000
- An automated & stress-free subscription process via our Direct Debit Initiative (DDI) and Quickteller payment platform
- 24/7 online access to account
- Flexibility and ease of liquidity as you can add to your investment or make withdrawals at any time (the minimum tenure for SIMM is 30 days
- Withdrawals can be done online via the website or mobile app.
How to invest in stanbic ibtc mutual fund
The bank made a very good provision for investors that wants to invest in their Stanbic IBTC Money Market Fund (SIMM) or the stanbic ibtc mutual funds.
You can open your Stanbic IBTC Money Market Fund account online seamlessly in 3 easy steps.
Number one is through their Instant Account link.
You can only invest through the instant account link If you are starting your investment with N20,000 and below.
You can also invest in the bank mutual funds by completing the attached forms and sending scanned copies via email to the bank. Download stanbic mutual funds form from here.
Kindly fill and complete the form, and send it to CustomerCareNigeria@stanbicibtc.com and they will get back to you.
The requirements to needed from you by the bank includes;
- One passport photograph for each signatory
- Copy of means of identification for each signatory (e.g. Permanent or Temporary Voters Card/ Valid Driver’s License / International Passport/ National Identity Card or slip/ Inland Revenue Tax Clearance Card)
- Proof of address (e.g. Utility bill in your name/ Bank Statement/ Rent receipt/ Tenancy Agreement)
Kindly note that the Investment account can easily be opened by sending the scanned copies of your duly filled account opening form and required documents.
NB Please be informed that for clients who are resident outside the country, the bank would require that your documents be endorsed by a notary public.
Without going through the process of online, you can simply walk into any stanbic ibtc bank and request that you want to invest their mutual funds.
While going, have all the requirements stated above so that there won’t be any need for you to go and return, especially in this lockdown.
I do prefer to speaking with the customer service agent face to face when it comes to financial investment.
Would inquire about their tenors, rates and all other things.
You can even negotiate with the bank based on the interest rate as ask further questions if you’re confused in the process.
However, investing through online won’t give you the chance to speak with the customer service and to ask questions, unless you contact their helpline.
And i want you to know that not all bankers working in a bank knows everything when it comes to investment.
Each banker has it’s own area of specialization and you may call the customer service representative and you’ll be redirected to Stanbic IBTC Asset Management Limited .
The Stanbic IBTC Asset Management Limited are the one’s in charge investment in the bank, and these include; fixed deposit, mutual funds, bonds etc.
Don’t forget to read more on mutual funds using this link here.
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Irrespective of the current situation in the world today, it won’t make us not to save or invest for the future. And that’s all i have for stanbic mutual funds, don’t forget to share this post.