NAIROBI, Kenya, Sep 3 – Stanbic Bank Kenya is eyeing investors with two new money market funds with up to 15.12 percent in annual returns.
They include Stanbic Money Market Fund (Kenyan shilling denominated) and Stanbic Fixed Income Fund (US Dollars).
While the Money Market Fund offers a yearly return of 15.12 percent, the Fixed Income Fund provides a 5.56 percent yield.
Under the two funds, investors will be able to invest with at least Sh1,000 and $100.
“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,” Joshua Oigara, Stanbic Bank Chief Executive Kenya and South Sudan, said.
“We need to create accessible entry points for investors, offering affordable and user-friendly solutions that lower barriers to investment,” he added.
“Our Asset Management unit is strategically positioned to deliver investment solutions that drive growth for both retail and institutional investors.”
However, a two percent management fee will apply on the Money Market Fund as well as one percent under the Fixed Income Fund.
Managed by SBG Securities, an investment bank, the new investment options are open to existing and new customers.
“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,” Stanbic Bank Kenya Head Insurance and Asset Management Anjali Harkoo said.
“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, these funds adhere to stringent investment guidelines, ensuring stability and security for investors.”
