Stanbic IBTC Asset Management Moves to Protect Mutual Fund Holders

By Aduragbemi Omiyale

A significant step has been taken by Stanbic IBTC Asset Management to protect mutual fund holders from scams.

This is being implemented through a campaign launched by the organisation to raise awareness of scam attempts that may mislead customers into using incorrect account details, highlighting the tactics used by scammers to keep customers informed and vigilant.

Stanbic IBTC Asset Management intends to use this means to build trust and reassurance, reinforcing its dedication to the financial safety of its clients.

This move, taken in response to an alarming rise in scam attempts targeting mutual fund holders, will educate customers on protecting their investments and understanding the correct procedures for mutual fund subscriptions.

The firm has advised customers to verify the payment accounts for any Stanbic IBTC mutual fund investments, encouraging due diligence in confirming the legitimacy of financial communications.

The chief executive of Stanbic IBTC Asset Management, Ms Busola Jejelowo, said, “At Stanbic IBTC, our top priority is our customers’ financial safety, and we are fully committed to ensuring that our clients have the security they need while managing their investments.

“This campaign is designed to protect our customers and empower them with the knowledge necessary to recognise and verify the authenticity of any communications they receive.

“By doing so, we aim to foster a sense of confidence and security among our clients regarding their financial decisions.”

It was gathered that recently, enquiries about the authenticity of mutual fund subscription messages have surged. Many of these messages contain differing and potentially incorrect account numbers, leading to confusion and concern among investors.

The company has made it clear that customers should not hesitate to contact the support team directly with any concerns, questions, or suspicions regarding communications or transactions.