Ratio Magazine :: The Inside Track to East Africa’s Economies - Kenya: Press Releases: Stanbic launches Stanbic Money Market Fund and CFC Simba Fund

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Kenya: Press Releases: Stanbic launches Stanbic Money Market Fund and CFC Simba Fund

Thursday, 17 September 2009

Nairobi, 16 September 2009 --- Stanbic Investments (E.A) Ltd has launched two unit trust products, the Stanbic Money Market Fund (SMMF) and the CFC Simba Fund.

The Stanbic Money Market Fund is designed for individuals who have cash available to invest over the short to medium term and the Fund effectively provides an investment opportunity for individuals who require low risk, security and yields in excess of traditional banking products. The SMMF is also designed for investors who traditionally hold large cash balances which need to remain liquid for operational reasons.

The CFC Simba Fund is a medium term collective investment scheme that invests in a diversified spread of equities and fixed income securities with the primary objective of seeking long term capital growth and income consistent with moderate risk from a wide range of securities.

During the launch, Stanbic Investment’s Investment Manager, Kenneth Kaniu said that the two collective scheme products aim at providing cost effective access to a wide range of local and international equities, bonds and money market instruments such as fixed deposits, treasury bills and call accounts.

The minimum investment for the CFC Simba Fund is KES100,000 with a minimum additional investment of KES20,000, while the Stanbic Money Market Fund has a minimum investment of KES1m and a top up investment of KES50,000. The SMMF has a recommended investment period of one month or longer.

‘Due to the level of demand in the market for unit trust funds and the diminishing interest in shares, Stanbic has identified investor’s need to invest in unit trusts such as the SMMF and the CSF that are flexible in that they do not have a fixed investment period and investors can switch their asset allocation from one fund to another without hassle,’ added Kenneth Kaniu.

The launch of the two unit trust products will enable investors to reduce the transactional costs involved in buying and selling securities and will provide shareholders with the ability to negotiate a better return than they would get if investing individually.

One great advantage of the CFC Simba Fund is the timing of the launch. The fund was launched in July 2009, when the prices of equities at the NSE and also international markets were at an all time low. This means that the CFC Simba Fund does not have the historical higher prices that our competitors are carrying; implying the performance of the fund over the medium term will outperform competition.

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