Stanbic Bank Kenya is expanding its investment offerings with the launch of two new money market funds, designed to attract both retail and institutional investors. The new funds include the Stanbic Money Market Fund, which provides an impressive annual return of 15.12 percent, and the Stanbic Fixed Income Fund, which offers a yield of 5.56 percent.
The Money Market Fund is denominated in Kenyan shillings, while the Fixed Income Fund is in US dollars. Investors can start with a minimum investment of Sh1,000 for the Money Market Fund and $100 for the Fixed Income Fund. This strategic move aims to provide accessible and competitive investment opportunities to the market.
Joshua Oigara, Stanbic Bank Chief Executive Kenya and South Sudan, emphasized the importance of mobilizing domestic savings and enhancing capital markets. He highlighted the bank’s commitment to offering investment products that meet the needs of investors and create accessible entry points to facilitate growth.
A management fee of two percent applies to the Money Market Fund, while the Fixed Income Fund incurs a one percent fee. These funds are managed by SBG Securities, an investment bank, and are available to both new and existing customers.
Anjali Harkoo, Head of Insurance and Asset Management at Stanbic Bank Kenya, pointed out that the bank’s holistic suite of banking and non-banking solutions, including these new unit trusts, provides significant advantages. These funds are designed to deliver expert management and diversification across various asset classes.
Licensed and regulated by the Capital Markets Authority, the new funds adhere to stringent investment guidelines, ensuring stability and security for investors. This initiative reflects Stanbic Bank Kenya’s dedication to driving growth and offering innovative investment solutions.
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