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Economy

Stanbic IBTC Asset Mgt Maintains Spot as Nigeria’s Largest Mutual Fund Firm

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By Quantitative Financial Analytics

The assets of Stanbic IBTC Asset Management have recorded a significant increase by 24 percent in the first quarter of 2017 to cement its position as Nigeria’s largest mutual fund company by asset, Quantitative Financial Analytics reports.

Assets under management stood at N107.4 billion as at March 31, 2017, up from N86.8 billion the previous year end.

Also, its nearest rival, FBN Asset Management, grew its assets by about 21 percent to N39.4 billion, according to analysis of latest available information by Quantitative Financial Analytics Ltd.

Stanbic IBTC Asset Management now overseas 41.53 percent of total mutual funds’ Asset Under Management (AUM) as at March 31, 2017.

Stanbic IBTC Asset Management has at least one fund in each category of mutual funds in Nigeria which enables the fund management company to offer market synergies and diversification for its clients

The fund management company has seen substantial investor interest in an array of its mutual funds over the years.

In particular, Stanbic IBTC Money Market fund has seen significant growth in net flows year after year since inception. Investment performance has also been solid especially with Stanbic IBTC Absolute fund.

The Stanbic IBTC Money Market fund currently offers the highest yield among money market funds and is also the largest mutual fund by assets in Nigeria. It currently has an AUM of N83.1 billion which represents 32.14 percent of total mutual fund assets in Nigeria.

Stanbic IBTC’s fund family is next to none in terms of reporting and transparency. While the prices of its mutual funds are readily available on its web site daily, the fact sheets of the funds are also easily accessible and comprehensible. The company is about the only one that indicates the risk profile of its funds on its fact sheet on a risk continuum ranging from 1 to 5, (5 being the highest risk). This information helps investors in selecting funds that match or are in tune with their risk appetites and tolerance levels.

The company has won a whole lot of accolades because of its skilful fund management.

In 2015, the company won three Global Banking and Finance Review Awards- “Best Asset Management Company in Nigeria award”, Best Mutual Fund Provider in Nigeria, 2015 and Best Non-Pension Fund Manager in Nigeria.

Only recently, the company launched two new mutual funds- Stanbic IBTC Dollar Fund and Stanbic BTC Pension ETF 40, bringing the number of mutual funds being managed by the company to 13, including the Umbrella Funds.

“As the market leader in Nigeria, we are aware of our responsibility to continuously provide unparalleled solution and services to Nigerians in a very cost effective and timely manner” said Mrs Bunmi Dayo-Olagunju Chief Executive of Stanbic IBTC Asset Management.

Too Big to Fail Concern

The only concern about the fund manager is the fear of “too big to fail”, meaning that should Stanbic IBTC Asset Management sneeze, the Nigerian mutual fund industry might catch cold or even fever given the size of its stake in the industry.

That fear has been allayed by many experts who have opined that the too big to fail hysteria does not directly apply to asset management companies since they do not engage in lending or trading in exotic and high risk derivatives which were the triggers of the 2008 financial crisis.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

Economy

Customs Street Surges 0.28% Despite Persistent Weak Sentiment

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Customs Street Nigerian Stock Exchange

By Dipo Olowookere

The Nigerian Exchange (NGX) Limited rallied by 0.28 per cent on Wednesday despite weak investor sentiment, as the bourse ended with 18 price gainers and 38 price losers, implying a negative market breadth index.

The growth recorded yesterday by Customs Street was influenced by the 2.11 per cent rise posted by the energy index, and the 1.79 per cent jump achieved by the banking sector.

The other sectors experienced profit-taking, with the consumer goods losing 1.07 per cent, the insurance counter down by 0.36 per cent, and the industrial goods space down by 0.19 per cent.

Universal Insurance chalked up 10.00 per cent to sell for N1.21, Omatek improved by 9.78 per cent to N2.47, VFD Group expanded by 9.71 per cent to N11.30, CWG appreciated by 9.64 per cent to N21.05, and Livestock Feeds gained 9.56 per cent to close at N7.45.

On the flip side, UPDC REIT lost 10.00 per cent to settle at N6.75, Fortis Global Insurance shed 9.92 per cent to quote at N1.18, Deap Capital depreciated by 9.85 per cent to N5.40, Chams went down by 9.47 per cent to N3.06, and Japaul declined by 8.82 per cent to N3.10.

Yesterday, the All-Share Index (ASI) went up by 562.43 points to 202,585.53 points from 202,023.10 points, and the market capitalisation advanced by N389 billion to N130.404 trillion from N130.015 trillion.

During the session, 1.0 billion stocks worth N40.6 billion exchanged hands in 52,723 deals compared with the 1.1 billion stocks valued at N40.3 billion executed in 78,006 deals a day earlier, indicating an uptick in the trading value by 0.74 per cent, and a shortfall in the trading volume and number of deals by 9.09 per cent and 32.41 per cent apiece.

The activity chart was led by Access Holdings, which sold 233.0 million units valued at N6.1 billion, Fidelity Bank exchanged 113.1 million units worth N2.2 billion, Wema Bank recorded a turnover of 103.3 million units valued at N2.7 billion, Zenith Bank transacted 60.6 million units for N6.5 billion, and Chams traded 47.5 million units worth N154.6 million.

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Economy

Crude Oil Slumps Amid Hopes of Strait of Hormuz Reopening

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west texas intermediate WTI crude

By Adedapo Adesanya

Crude oil plummeted on Wednesday on hopes ​of the reopening of the Strait of Hormuz after US President Donald Trump agreed to a two-week ceasefire with Iran.

Brent crude futures moderated to $94.75 a barrel, while the US West Texas Intermediate (WTI) crude eased to $94.41 a barrel.

President Trump said on Wednesday that the US will work closely with Iran and will be talking about tariff and sanctions relief with Iran.

However, analysts cautioned that the ceasefire is a temporary two-week reprieve rather than a permanent resolution, and the global energy system remains fragile due to structural damage to regional infrastructure.

Reuters reported that Iran could open the strait in a limited and controlled way on Thursday or Friday ahead ​of a meeting between U.S. and Iranian ​officials in Pakistan.

Agence France-Presse (AFP) reported that two ships appeared to have transited the Strait of Hormuz since the US-Iran ceasefire deal. A Greek-owned bulk carrier and a Liberia-flagged vessel both transited the waterway early on Wednesday.

Meanwhile, Israel carried out its heaviest strikes on Lebanon since the conflict with Hezbollah broke out last month, even as the Iran-aligned group paused attacks on northern Israel and Israeli troops in Lebanon under the ceasefire.

Also, Saudi Arabia’s East-West Pipeline, a critical artery bypassing the Strait of Hormuz, was reportedly hit in an Iranian drone attack. Prior to the attack, the pipeline was pumping at its emergency capacity of 7 million barrels per day to bypass the shuttered strait.

The strikes occurred just hours after a US-Iran ceasefire announcement, which has so far failed to halt regional hostilities. Other facilities in the kingdom were also targeted in the wave of strikes, which the Islamic Revolutionary Guard Corps (IRGC) claimed included oil facilities owned by American companies in Yanbu.

US crude stocks rose by 3.1 million barrels to 464.7 million barrels ​during the week ended April 3, the Energy Information Administration (EIA) said.

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Economy

Insurance Firms Must Submit 2025 Assessment Returns by May 31—NAICOM

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NAICOM Conplaint Management Portal

By Adedapo Adesanya

The National Insurance Commission has issued new guidelines for the collection, management, and administration of the Insurance Policyholders’ Protection Fund.

In a circular issued to all insurance institutions on Tuesday, the regulator also set May 31, 2026, as the deadline for insurers to submit their assessment returns for the 2025 financial year.

Recall that on August
 5, 2025, 
President Bola Tinubu signed
 into 
law
 the 
Nigerian 
Insurance 
Industry Reform 
Act (
NIIRA
2025).


This 
landmark legislation 
repeals 
the 
Insurance 
Act 
2003, 
and
 consolidates 
related 
provisions, 
ushering 
in 
a 
modern regulatory framework. It lays a strong foundation for sustainable growth and increased investment in the country’s insurance sector.

The commission said the guidelines were issued in exercise of its powers under the 2025 Act and other existing insurance laws and regulations to provide regulatory clarity, improve guidance, and ensure ease of compliance across the industry.

According to NAICOM, the guidelines establish a comprehensive structure for the operation of the IPPF, which serves as a statutory safety net to protect insurance policyholders in the event of distress or insolvency of a licensed insurer or reinsurer. The framework also provides direction on the reimbursement of loans by insurers and reinsurers.

NAICOM stated, “The guidelines ensure regulatory clarity, guidance and ease of compliance, as it provides a comprehensive regulatory framework for the collection, management, and administration of the Fund, which serves as a statutory safety net designed to protect insurance policyholders against distress and insolvency of a licensed insurer or reinsurer, including guidance for the reimbursement of loans by an insurer or reinsurer.

“Please be informed that the IPPF Assessment Returns in respect of the year 2025 shall be submitted to the Commission not later than 31st May 2026, while subsequent submissions shall be in line with Section 4.3 of the Guideline on Insurance Policyholders Protection Fund.”

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