STL Asset Management unveils mutual funds

STL Asset Management has unveiled two new mutual funds; STL Money Market Fund and the STL Balanced Fund, which are fully digitalised.

A statement from the firm on Sunday disclosed that the STL Money Market Fund was designed as a low-risk investment vehicle aimed at generating periodic income while safeguarding investment capital throughout the investment period.

According to the firm, states that it places a high priority on maintaining high liquidity and that its assets include cash as well as a variety of money market instruments, Nigerian Treasury Bills, bank placements, commercial papers, Federal Government of Nigeria promissory notes, and other money market instruments.

It noted that the STL Balanced Fund was tailored for investors with long-term objectives, seeking to generate periodic income over the investment period while emphasising optimal diversification.

The fund comprises a mix of assets including Equities, Bonds, Nigerian Treasury Bills, Bank Placements, Commercial Papers, Promissory Notes issued by the Federal Government of Nigeria, Other Money Market Instruments, and Cash.

Speaking at the launch, the Managing Director of STL Asset Management, Ahmed Banu, said “STL Asset Management is an Asset Fund and portfolio business. We intend to cover Nigerian and Sub-Saharan Africa to ensure that we empower generations of investments to achieve optimal financial goals by providing easy access to investment solutions in this digital age.

“We all know that the world is becoming very technology-focused and our objective is to infuse both money and technology. As a business, our mission is to be the foremost or most preferred investment management firm in Sub-Saharan Africa for its competence and client focus.

“Our goal is to be among the top five asset management firms in Nigeria within the next few years. Come five years from now you see STL Asset Management as one of the top five asset management firms in Nigeria.”

On her part, a Non-Executive Director of STL Asset Management Limited, Funmi Ekundayo, said, “Today marks a significant milestone in our journey at STL Asset Management as we venture into a new vista of financial services with the unveiling of STL Mutual funds.

“Today’s unveiling of the STL Asset Management Mutual Funds stands as proof of our commitment to empowering options and solutions, which are aligned with their investment and financial goals and aspirations.”

According to Ekundayo, the firm is presenting a testament to the fusion of innovation and professional competence in the pursuit of financial prosperity with the introduction of STL Mutual Funds.

“We are presenting a gateway to strategic, long-term wealth creation, Wealth Management, and wealth preservation,” she noted.

Following updates to the regulations governing Collective Investment Schemes, or mutual funds, in the nation, the Securities and Exchange Commission disclosed in April that it had placed approximately N2.36 trillion in discretionary and non-discretionary funds under custody.

According to the SEC, as of the end of the first quarter, the value of the CIS fund stood at N N2.14tn,