Stanbic Bank Kenya launches Asset Management business
Stanbic Bank Kenya launches Asset Management business; Aims to empower Kenyans to pool their resources and generate superior returns
- Inaugural launch of the Stanbic Money Market Fund (KES) and Stanbic Fixed Income Fund (USD)
- Funds have a minimum investment of KES 1,000 and USD 100, respectively.
- The Stanbic Money Market Fund (KES) is currently offering a 15.12% annualised yield and the Fixed Income Fund (USD) is currently offering a 5.56% annualised yield.
- Funds are managed by SBG Securities Limited, a leading investment bank.
- Move aimed to reduce barriers to investment through low initial investment requirements.
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.
Stanbic Bank Kenya launches Asset Management business
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 our clients through a range of client-centric products and services.
It 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.
Commenting on this, Dr Joshua Oigara, Stanbic Bank Chief Executive Kenya and South Sudan said, “To drive growth, we must mobilise domestic savings and investments by strengthening our capital markets and developing investment products that cater to our people’s needs. We need to create accessible entry points for investors, offering affordable and user-friendly solutions that lower barriers to investment. Our Asset Management unit is strategically positioned to deliver investment solutions that drive growth for both retail and institutional investors.”
“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. Investing in Stanbic’s Unit Trusts offers vast advantages, including expert management and diversification across various asset classes” said Anjali Harkoo, Head Insurance and Asset Management, Stanbic Bank Kenya.
Stanbic Bank Kenya launches Asset Management business
“Licensed and regulated by the Capital Markets Authority, 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.” added Anjali.
The funds currently provide investors with an annualized yield of 15.12% for the Money Market Fund (KES) and 5.56% for the Fixed Income Fund (USD). The Money Market Fund charges up to 2% in management fees, while the Fixed Income Fund charges up to 1%.
The funds will be available to both existing and new Stanbic Bank clients, catering to both individual and institutional investors.
