Morning house, I'm considering going for First Capital Money Market fund because I already have an account with FBN but I will like to know how secured it is, how great the risk involved is especially the principal.

sammily:
Morning house, I'm considering going for First Capital Money Market fund because I already have an account with FBN but I will like to know how secured it is, how great the risk involved is especially the principal.

Read from page 1-4...yours answers are there or http://www.fbncapital.com. There are others and transfering money across banks doesn't cost much these days...so pick the one that suits your belle.

cheers

ernie4life:


thanks for your response, am asking most questions so that those interested in ARM mutual funds can know some of the features,

now you said you gave a standing order to enable you save, does that mean all of them will still mature at the same time

the standing order or direct debit add up with you balance. interest is added daily. so if you have #50k january , and you add 25k on feb 4, you statement will read 75k on feb 5 and accumunated interest for that period. so interest from feb 5 will now be base on 75k. you can access it anytime.

sentoms:
the standing order or direct debit add up with you balance. interest is added daily. so if you have #50k january , and you add 25k on feb 4, you statement will read 75k on feb 5 and accumunated interest for that period. so interest from feb 5 will now be base on 75k. you can access it anytime.

thanks, it's a good deal

So I did a little digging on FBN Capital site today with the aim of rebalancing my investments. For over 2 years I have only been investing in their Money Market Fund (MMF) but they have two other mutual funds (although not rated by a rating agency and of higher risks; higher risks also means more profit). They are Heritage Fund and Fixed Income Fund ...

http://www.fbncapital.com/asset-management/our-products/mutual-funds

The funds differ slightly depending on risks, profits, holding period and so on. People that do not want to invest directly in the stock market might find them interesting.

I would be leaving 60% of my money in MMF while 40% will be distributed between the other two.

carpenter:


Read from page 1-4...yours answers are there or http://www.fbncapital.com. There are others and transfering money across banks doesn't cost much these days...so pick the one that suits your belle.

cheers

Thanks my very oga @ d top. I've gone through the pages and also the link above and all seems good and jolly but I just want to hear from someone who is investing there if its worth it and from your next post, they seems alright I guess? I know all investments have one form of risk or the other, I'm just looking for a low risk investment while I safe up for my intended project.

sammily:


Thanks my very oga @ d top. I've gone through the pages and also the link above and all seems good and jolly but I just want to hear from someone who is investing there if its worth it and from your next post, they seems alright I guess? I know all investments have one form of risk or the other, I'm just looking for a low risk investment while I safe up for my intended project.

it's very low risk investments and very safe.
kakawa discount house has been acquired by FBH that means the company has a good record, you have nothing to fear

i went to first bank today and to my own understanding its a good investment with low risk

am on the http://www.fbncapital.com/home page and i cant find anything helpful

bookiee:
am on the http://www.fbncapital.com/home page and i cant find anything helpful

click the link that carpenter provided above

For a low risk investment and saving towards a project, I will advice you go for ARM Money Market. you can also set up direct debit ( standing order) a way to be dedicated to saving monthly.

Kakawa was owned by group of banks like 5 or so. becos of Cbn order on ownership structure of non banking etc. kakawa asset mgt was sold to investment one while kakawa discount was sold to Fbn holdings

sorry to bother you pls....
how does KGIF works?

will a certain amount be deducted from my account on a monthly basis for investment ?
Need to invest paticular amount of cash on a monthly basis for about 6months.

kajoula:
sorry to bother you pls....
how does KGIF works?

will a certain amount be deducted from my account on a monthly basis for investment ?
Need to invest paticular amount of cash on a monthly basis for about 6months.

take your time and read the whole thread and you will be well enlightened

carpenter:
So I did a little digging on FBN Capital site today with the aim of rebalancing my investments. For over 2 years I have only been investing in their Money Market Fund (MMF) but they have two other mutual funds (although not rated by a rating agency and of higher risks; higher risks also means more profit). They are Heritage Fund and Fixed Income Fund ...

http://www.fbncapital.com/asset-management/our-products/mutual-funds

The funds differ slightly depending on risks, profits, holding period and so on. People that do not want to invest directly in the stock market might find them interesting.

I would be leaving 60% of my money in MMF while 40% will be distributed between the other two.

Hey carpenter,

Is the capital guaranteed in all these funds? ......and from your experience what are the fees like? can I also monitor performance online?

Highlights of the MPC meeting:
 
 
§  The Monetary Policy Committee voted  to increase the Monetary Policy Rate by 100bps from 12% to 13%.
 
§  The committee voted to maintain the ±200bps symmetric window on the policy rate.
 
§  The committee voted to increase CRR on private sector deposits by 500bps from 15% to 20%.
 
§  CRR on public sector deposits was retained at 75%.
 
§  The committee voted to move the midpoint of the exchange rate from N155 to N168 (8.4% devaluation)
 
§  The committee voted to widen the band around the midpoint from ±3% to ±5%.
 
§  Voted to retain Net open position at 1%.


the implications of this is that kgif interest has just increased from 12% to 13% flat

@ ernie4life, What is the implatication of those who already sign up for kgif for one year @ 12%, will the value of the remaining 6months be calculated on 13% or what, just asking

confluence:
@ ernie4life, What is the implatication of those who already sign up for kgif for one year @ 12%, will the value of the remaining 6months be calculated on 13% or what, just asking

when the interest rate is implicated it will take effect from next year, that means ur investment will still run at 12% till next year

@eanie4life, thanks
what am trying to say is this, i was told we could earn more if the MPR CHANGES FROM 12% UPWARDS , WE COULD SHARE 35% OF EXCESS ABOVE 12 % FUND ACCRUE, DOES THAT STILL HOLD?

confluence:
@eanie4life, thanks
what am trying to say is this, i was told we could earn more if the MPR CHANGES FROM 12% UPWARDS , WE COULD SHARE 35% OF EXCESS ABOVE 12 % FUND ACCRUE, DOES THAT STILL HOLD?

the clause of you earning 35% is when the funds performs exceedingly well, but that's not the case here, the case here is that MPC just increased the rate,

scaranek:


Hey carpenter,

Is the capital guaranteed in all these funds? ......and from your experience what are the fees like? can I also monitor performance online?

Capital is not guaranteed and you can monitor online. The rates are exclusive of fees so you do not need to bother about their fees.

However, you can visit http://www.fbncapital.com/asset-management/our-products/mutual-funds for further reading

Is anybody in the house subscribed to FBN Heritage fund?

I need to know how often they paid dividend and when they paid last.

@ ernie4life
Which bank will be most suitable to operate a kg if
i.e in cases of fund withdrawal and standing order

toxiflam:
@ ernie4life
Which bank will be most suitable to operate a kg if
i.e in cases of fund withdrawal and standing order

you can use first bank.

princeuk21:
you can use first bank.

Thanks, out of curiosity, do u also operate a kgif

toxiflam:
@ ernie4life
Which bank will be most suitable to operate a kg if
i.e in cases of fund withdrawal and standing order

any bank is Ok, because the pay through funds transfer,

Good morning & wishing you the very best of the weekend.
How can I locate in Uyo (Akwa-Ibom) or Calabar (Cross-Rivers) the branch offices of :
*ARMS
*KGIF
*FBN Capital/Money Market.
*Stanbic IBTC Mutual Funds

Then, I noticed no one talked about Union Bank!
Is it that they don't operate Mutual Fund service?

toxiflam:

Thanks, out of curiosity, do u also operate a kgif

yes from kakawa

carpenter:


Yeah you are very correct but the problem with changing with banks (or investment houses) from any currency to naira (USD for example) is that you lose like an average of 5% of the naira equivalent compared with the black market. So lets say eventually she wants to use the money and needs to change it back to dollar after a year...chances are that dollar would have appreciated against the naira (of course the reverse can happen but unlikely or remain the same). I don't have any statistics to work with so lets say the naira loses 3% against the dollar....she then will have been better off investing in the US for 6% than in Nigeria at 12% (4% effective) for that period. This would not have been a problem if you could change via the banks or investment houses back to dollar at the CBN rate but chances are that it will not happen. They are happy to receive but not so happy to give.

I would only transfer dollars for an investment if the investment is denominated in dollars otherwise, will change it with a money changer (by the way, someone runs a foreign exchange biz here...) try this thread https://www.nairaland.com/68738/how-much-did-exchange-dollar/86#26808717

Arbitrade and others have been doing this for a while.

Glad I said it the way I saw it...would have felt bad if this lady had converted her money and then CBN devalued naira...she just gained over 7% against the naira.

Stanbic ibtc asset management mutual funds are the largest in Nigeria and staffed by experienced professionals. Will be back with more information.