STL Asset Management has launched two new mutual funds; STL Money Market Fund and the STL Balanced Fund, which are fully digitalised.
A statement from the firm on Sunday revealed 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, it prioritises maintaining high liquidity and includes a diverse range of assets such as money market instruments, Nigerian Treasury Bills, bank placements, commercial papers, promissory notes issued by the Federal Government of Nigeria, and other money market instruments, along with cash.
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.
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“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 our clients with diversified investment 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.
In April, the Securities and Exchange Commission revealed that it had brought about N2.36tn in discretionary and non-discretionary funds under custody following updates to the guidelines for Collective Investment Schemes (also known as mutual funds) in the country.
As of the end of the first quarter, the value of the CIS fund stood at N N2.14tn, according to the SEC.
