Monday, October 18, 2021

IPRO Botswana returns to the money market with a new Fund

If you ask IPRO Botswana Managing Director Clair Mathe-Lisenda where to park your money based on your savings goal, her likely call would be a money market fund not a Bank Call/Savings Account as traditionally done by some prospective investors.

Lisenda’s call could actually be specific and direct you to her own company’s newly launched – Money Market Fund. The Fund, which was launched at the beginning of November 2017, seeks to provide investors with income on a monthly basis whilst maintaining liquidity and preserving principal investment amounts.

Amongst other investment instruments, IPRO Botswana intends to park the money into Botswana Pula denominated such as government Bonds, debentures, corporate bonds, fixed deposits and promissory notes. The Fund is then expected to distribute the net incomes to Unitholders on the last day of each month with income distributed taxable at source.

Speaking to journalists in the capital Gaborone on Wednesday, Lisenda said that the launch of the Money Market Fund demonstrates IPRO Botswana’s contribution to the local asset management industry. The newly launched Fund caters for investors preferring to invest lump sum amounts with an option to “top up”” investments throughout the investment period.

“The Fund also allows for systematic investment plans ÔÇô SIPS, these are important in instilling investment discipline as through SIPS, individuals set aside a pre-determined amount towards their investment”, Lisenda said.

IPRO Botswana, whose shareholding is divided into two, IPRO Mauritius (55%) and unnamed Botswana citizens (45%), has been operating in the country since 2007. The Asset Management firm currently operates with a team of 15 Batswana and manages assets for both institutional and retail clients. The company initially served retail clients only but opened its doors to institutional investors some two years back.

On Wednesday, Lisenda said that the newly launched Fund will complement the IPRO Ponelopele Fund which invests in riskier asset classes and hence more appropriate for investors with long investment horizons, higher risks tolerance and higher return objectives. Whilst the Ponelopele, which was launched in March 2015 is more appropriate to those comfortable with risk, the new Fund offers solutions for the risk averse with short investment holding periods.

“It is an exciting period for IPRO Botswana and we continuously challenge ourselves to design appropriate and relevant investment products aimed at meeting investor needs”, Lisenda said.

The asset management group, IPRO Botswana manages over P3.5 billion of assets under management (AUMs) with internationals shareholders such as CIEL in Mauritius.

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