Stanbic Bank Kenya has today launched the Stanbic Money Market Fund (KES) and the Stanbic Fixed Income Fund (USD) following approval by the Capital Markets Authority earlier this year.
The funds will be managed by SBG Securities Limited, a subsidiary of Stanbic Holdings Plc.
This launch marks Stanbic Bank’s official entry into asset management through its newly established Insurance and Asset Management Unit, with plans to introduce more investment products in the future.
This initiative aligns with the Bank’s strategy to offer comprehensive solutions, creating a seamless, one-stop financial services hub tailored to meet the specific needs of its clients through a range of client-centric products and services.
The initiative also supports the Bank’s purpose to drive growth by providing meaningful solutions.
With minimum investments of KES 1,000 and USD 100, the funds are designed for investors seeking to diversify their portfolios and achieve long-term growth with minimal risk and high liquidity. Clients’ investments will be managed by a team of seasoned investment professionals.
Speaking at the event, Dr Joshua Oigara, Stanbic Bank Chief Executive Kenya and South Sudan maintained that to drive growth, the bank must mobilise domestic savings and investments by strengthening its capital markets and developing investment products that cater to its people’s needs.
“We need to create accessible entry points for investors, offering affordable and user-friendly solutions that lower barriers to investment,” he added.
Dr Oigara observed that the Asset Management unit is strategically positioned to deliver investment solutions that drive growth for both retail and institutional investors.
Concurrently, Anjali Harkoo, Head Insurance and Asset Management, Stanbic Bank Kenya echoed, “We strategically set up a fourth business unit called Insurance and Asset Management to ensure that we were offering a holistic suite of Banking and non-Banking solutions to our clients”.
He reiterated that investing in Stanbic’s Unit Trusts offers vast advantages, including expert management and diversification across various asset classes.
Licensed and regulated by the Capital Markets Authority, Harkoo stressed that these funds adhere to stringent investment guidelines, ensuring stability and security for investors.
“Leveraging our extensive asset management experience across our Group network, we will implement best investment practices and utilise our robust internal capabilities to deliver value to our clients,” he affirmed.
The funds currently provide investors with an annualized yield of 15.12 percent for the Money Market Fund (KES) and 5.56 percent for the Fixed Income Fund (USD).
In addition, the Money Market Fund charges up to 2 percent in management fees, while the Fixed Income Fund charges up to 1 percent.
The funds will be available to both existing and new Stanbic Bank clients, catering to both individual and institutional investors.
By Michael Omondi
