Sterling Capital commenced operations in January, 2006 as a re-branding of the investment baking capabilities and experience of the five legacy institutions that merged to form Sterling Bank, following the conclusion of the Banking Industry consolidation in Nigeria in December, 2005. The Banks were NAL Bank Plc, Magnum Trust Bank Plc, Indo-Nigeria Bank Ltd, NBM Bank Ltd and Trust Bank of Africa Plc. This implies that its presence in the Nigerian Capital Market precedes its ...read more
legal existence.
Given our antecedent, we have over 50 years of Capital Markets experience, with about 50% of the companies quoted on the Nigerian Stock Exchange having our imprint, either having handled their Initial Public Offer (IPO) or Capital Issues; while some of the individuals that handled such transactions still exist in the Sterling Group till today.
Over the last five years, we have continued to make our mark as a leading investment banking institution, having participated in transactions in excess of N400bn, either as Issuing House or Underwriters.
We also played prominent roles in the reforms in the insurance industry, having raised capital and provided advisory services in a number of the mergers and acquisition transactions. Indeed we were responsible for about 30% of the N180bn fresh capital mobilised in the industry during the period.
We have significant experience in Asset and Funds Management as the Managers of an open-ended mutual fund (The Frontier Fund) and a closed-ended mutual fund, Nigeria Energy Sector Fund (NESF) - the first sector specific fund in the Nigerian market. Our funds have not only outperformed the market, but also ranked prominently among similar ones.
LEGAL STATUS
Sterling Capital was incorporated in January 2006, having being registered by the Corporate Affairs Commission and the Securities and Exchange Commission as;
- Issuing House / Financial Advisers
- Assets Managers
Sterling Capital was initially 100% owned by Sterling Bank Group. However, following policy changes by CBN and adoption of National Bank status, Sterling Bank divested its holdings to Broadway Investment Partners. The company currently has an authorized and fully paid capital of about N1.35bn
BROADWAY ASSET MANAGERS LIMITED
Broadway Asset Managers Limited is a fully owned subsidiary of Sterling Capital Markets Limited, which was incorporated to carry on with its Asset Management functions hitherto handled by the Company. The subsidiary has been registered and approved by SEC.
Sterling Capital has concluded plans to transfer all its Assets and Funds Management functions to Broadway Asset Managers Ltd. The three mutual funds under our management are; Nigerian Energy Sector Fund, The Frontier Fund and Indo Nigerian Unit Trust Fund. The Funds have not only out-performed the market, but also ranked prominently among similar ones in the country.
