NBM provides investments safe-keeping services for mutual funds, investment managers, retirement plans, bank fiduciary, agency accounts, insurance companies, pension funds, corporations, endowments and foundations that include settlements, safekeeping and reporting of customers’ marketable securities and cash or to Individuals who are very pre occupied by their main line of business different from investments in securities. NBM also serves Global custodians in executing cross-border foreign exchange and other securities transactions.
- In addition to holding securities for safekeeping, Treasury Operations under T&IBD also offer a variety of other services including:
- Account administration
- Provide Daily cash statement via SWIFT or emails depending on client specifications
- Trade settlements in respect of buy and sell of securities on instructions from fund managers or trustees
- Corporate action notification and confirmations (dividends announcements and payments)
- Daily statements of holdings through SWIFT
- Monthly portfolio valuation reports or as and when requested by the client
- Collection of dividends, interest payments and other corporate action entitlements on behalf of clients.
- Maintain records (equity records and fixed income securities kept in CSD)
- Invest Cash at the direction of clients (Investors) or Fund Managers
- Reconciliation of physical/CSD assets to records in our custody system and transfer secretary records.
- Foreign exchange dealings for foreign clients.
Charges
- Safekeeping fees:
- 0.08%pa on assets less than K5bn 0.07%pa on assets more than K5bn but less than K20bn
- Negotiable in excess of K20bn
- Minimum Custody Fees : K50,000
- Transaction fees: K5000 per transaction
