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Mutual Funds - Investment (110) - Nairaland

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Top 10 Mutual Fund Managers In Nigeria / Mutual Funds In Nigeria: Please Share Your Experience / Best Nigerian Mutual Funds To Invest In? (2) (3) (4)

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Re: Mutual Funds by jpphilips(m): 6:39pm On Sep 14, 2018
Ademat7:
Axamansard has been a credible option
www.axamansard.com

Which Axamansard? that cant do a proper statement of account, their rates are not even competitive anymore, you should be talking about AIICO and ARM
see list https://fman.com.ng/mutual-fund-price-list/

1 Like 1 Share

Re: Mutual Funds by dotcomnamename: 8:23pm On Sep 14, 2018
umulobi:
I have noticed that my interest in stanbic MMF has reduced on two occasions instead of increase. I have sent a mail to then and they acknowledged my mails but no explanations. My question is,can one experience decrease after a day's transaction on MMF ?This is happening to my interest twice since after the sanction from CBN....


Same here too. I sent them a mail and they replied with the below:

Further to your complaint below, please be informed that this was as a result of an incomplete valuation process. This was completed this morning and your account has been updated accordingly. May we kindly ask that you log on to verify same.

We apologize once again for the inconvenience assure you of our commitment to make your experience better.

We thank you for giving us the opportunity to be of service to you.

Warm Regards
Re: Mutual Funds by Cation(m): 8:43pm On Sep 14, 2018
4601CE:

Wow!
I noticed this yesterday too!
Mine reduced! But it all came back today.
these Stanbic people did something to me… I have a Stanbic IBTC bank account but I didn’t want an atm card.
Then later on ,I discovered they will not allow you withdraw less than one hundred thousand naira with withdrawal slip . I was like Are you guys kidding me? Who does that.
So I had to request for a debit card because I can’t keep transferring funds to my Other bank account just because I want to withdraw.
So, I went to collect my card when I got a message it was ready . Guess what ?
I got the greatest surprise of my life !
Monthly maintenance fee
N50.00 per month
The other bank I use charge N100 annually for that and that’s why I was shocked .
I guess CBN allow them to charge up to that anyways.
card maintenance fee is 600 Naira per annum. GTbank. also charge #50 per month.
Re: Mutual Funds by Yem0350: 8:53pm On Sep 14, 2018
Ademat7:
Axamansard has been a credible option
www.axamansard.com
To me
They are the best

1 Like

Re: Mutual Funds by Yem0350: 8:58pm On Sep 14, 2018
Cation:

I don't know why you people don't like ARM, they have being doing good.
They don't respond to issues very fast. Account top also takes 48hrs based on my experience with them.
Re: Mutual Funds by Ademat7(m): 9:02pm On Sep 14, 2018
d price goes up and down as obtainable everywhere in d MMF indutry
jpphilips:


Which Axamansard? that cant do a proper statement of account, their rates are not even competitive anymore, you should be talking about AIICO and ARM
see list https://fman.com.ng/mutual-fund-price-list/
Re: Mutual Funds by jpphilips(m): 9:32pm On Sep 14, 2018
Ademat7:
d price goes up and down as obtainable everywhere in d MMF indutry

Is that why Axa can't do a proper statement of account?
How can you select 1st August to 30th August, then you get your total accrued earnings since you opened the account? Where does that happen? Very unserious people.
Re: Mutual Funds by deking(m): 10:02pm On Sep 14, 2018
Have you guys heard of Monie4farm I think they are offering good rates
Re: Mutual Funds by Ademat7(m): 3:24am On Sep 15, 2018
there are two things their statement of account will show you 1. capital 2.accrued interest at the moment
and you know the accrued interest is added to the capital quarterly(every 3 month),just like bank cannot show you your statement of account even with your mobile app except you request for statement of account of a specific period of time,so do they too
but u can walk into any of their branch offices to clarify what you want.


Peace
jpphilips:


Is that why Axa can't do a proper statement of account?
How can you select 1st August to 30th August, then you get your total accrued earnings since you opened the account? Where does that happen? Very unserious people.
Re: Mutual Funds by moneywoman74: 5:06am On Sep 15, 2018
Good morning House,

I have been observing from ARM in recent times that there are some days i don't get my interest, that I have reported to them last week and my 5 days interest was calculated and added back to me.

Ok, this morning also i notice that my interest of yesterday has not been added as well, initially I don't monitor my investment don't even calculate i started doing that since two weeks and has been noticing lots lapses one wonders what happened in past months that I don't monitor.

My question: Does these Fund managers pay interest on weekends?

1 Like

Re: Mutual Funds by Nobody: 5:48am On Sep 15, 2018
moneywoman74:
Good morning House,

I have been observing from ARM in recent times that there are some days i don't get my interest, that I have reported to them last week and my 5 days interest was calculated and added back to me.

Ok, this morning also i notice that my interest of yesterday has not been added as well, initially I don't monitor my investment don't even calculate i started doing that since two weeks and has been noticing lots lapses one wonders what happened in past months that I don't monitor.

My question: Does these Fund managers pay interest on weekends?

How do you see daily interest in ARM? I want to start monitoring my own interest. They only pay my interest quarterly.
Re: Mutual Funds by moneywoman74: 6:07am On Sep 15, 2018
Ehuatamuigunisi:


How do you see daily interest in ARM? I want to start monitoring my own interest. They only pay my interest quarterly.

Answer: Assuming that my interest balance is 2057.14, today, it is expected that by tomorrow it would have increase to #20132.58 depending on their % interest for the day, if the balance still remain on the previous balance of #2057.14, i know that i have not been paid

1 Like

Re: Mutual Funds by ndidigood(f): 7:45am On Sep 15, 2018
moneywoman74:
Good morning House,

I have been observing from ARM in recent times that there are some days i don't get my interest, that I have reported to them last week and my 5 days interest was calculated and added back to me.

Ok, this morning also i notice that my interest of yesterday has not been added as well, initially I don't monitor my investment don't even calculate i started doing that since two weeks and has been noticing lots lapses one wonders what happened in past months that I don't monitor.

My question: Does these Fund managers pay interest on weekends?
No,it will b credited on Monday(Stanbic mmf experience)
Re: Mutual Funds by Cation(m): 8:18am On Sep 15, 2018
moneywoman74:
Good morning House,

I have been observing from ARM in recent times that there are some days i don't get my interest, that I have reported to them last week and my 5 days interest was calculated and added back to me.

Ok, this morning also i notice that my interest of yesterday has not been added as well, initially I don't monitor my investment don't even calculate i started doing that since two weeks and has been noticing lots lapses one wonders what happened in past months that I don't monitor.

My question: Does these Fund managers pay interest on weekends?
on Friday's they don't pay but unfailingly by close of work on Monday interest accrued from Friday to Monday will be paid. that's how they operate. I have being tracking them since four years and they don't fail.
Re: Mutual Funds by elijah101(m): 6:28pm On Sep 16, 2018
Union bank will drain you with card maintainable ... no fixed amount ... they can debit you 300 for card maintenance ... and even charge for like January last year ... saying they forgot to charge back then ... funny people ... you cannot add money to your account in peace ... you will just see alert ... sms charge.. card maintenance ... funny bank
4601CE:

Wow!
I noticed this yesterday too!
Mine reduced! But it all came back today.
these Stanbic people did something to me… I have a Stanbic IBTC bank account but I didn’t want an atm card.
Then later on ,I discovered they will not allow you withdraw less than one hundred thousand naira with withdrawal slip . I was like Are you guys kidding me? Who does that.
So I had to request for a debit card because I can’t keep transferring funds to my Other bank account just because I want to withdraw.
So, I went to collect my card when I got a message it was ready . Guess what ?
I got the greatest surprise of my life !
Monthly maintenance fee
N50.00 per month
The other bank I use charge N100 annually for that and that’s why I was shocked .
I guess CBN allow them to charge up to that anyways.
Re: Mutual Funds by jpphilips(m): 8:27am On Sep 17, 2018
Ademat7:
there are two things their statement of account will show you 1. capital 2.accrued interest at the moment
and you know the accrued interest is added to the capital quarterly(every 3 month),just like bank cannot show you your statement of account even with your mobile app except you request for statement of account of a specific period of time,so do they too
but u can walk into any of their branch offices to clarify what you want.


Peace

What I explained is simple accounting not rocket science, you cant show Total accrued interest for a selected date period, I don't know where you bank but my bank isn't that silly to show me 1 month inflow and outflows when I requested for just 1 week.
Any financial institution that can't show you how buisness closed for a day, is definitely stealing from you.

Let me tell you why this is important, Axa mansard have fluctuating rates at different times (nothing wrong with it ) however, they do not want you to know the period you accrued less interest, they equally do not want you to know days they didn't pay your interest, its unfortunate you are not seeing the big picture, Axa mansard is a fraud!!
Re: Mutual Funds by Yem0350: 8:39am On Sep 17, 2018
jpphilips:


What I explained is simple accounting not rocket science, you cant show Total accrued interest for a selected date period, I don't know where you bank but my bank isn't that silly to show me 1 month inflow and outflows when I requested for just 1 week.
Any financial institution that can't show you how buisness closed for a day, is definitely stealing from you.

Let me tell you why this is important, Axa mansard have fluctuating rates at different times (nothing wrong with it ) however, they do not want you to know the period you accrued less interest, they equally do not want you to know days they didn't pay your interest, its unfortunate you are not seeing the big picture, Axa mansard is a fraud!!
Tell me which MMF will show you statement of account with its daily interest (not total accrued interest)
Re: Mutual Funds by NobodyKnows(m): 8:41am On Sep 17, 2018
Lol
Re: Mutual Funds by jpphilips(m): 8:41am On Sep 17, 2018
moneywoman74:
Good morning House,

I have been observing from ARM in recent times that there are some days i don't get my interest, that I have reported to them last week and my 5 days interest was calculated and added back to me.

Ok, this morning also i notice that my interest of yesterday has not been added as well, initially I don't monitor my investment don't even calculate i started doing that since two weeks and has been noticing lots lapses one wonders what happened in past months that I don't monitor.

My question: Does these Fund managers pay interest on weekends?

You are lucky ARM gave you the tools to monitor your investment, Axamansard doesn't give you the tool, yet some of their customers here abi agent think it is normal, we have a problem in this country, what you said is precisely what I suspect is going on.

1 Like

Re: Mutual Funds by jpphilips(m): 8:50am On Sep 17, 2018
Yem0350:

Tell me which MMF will show you statement of account with its daily interest (not total accrued interest)

You think it is normal? Really! go to FMDQ and see all of them getting paid at the close of business on your money but you are not allowed to see how your own business closed for the day, you think it is ok!!
What is total accrued interest when I selected specific dates im interested in?
If you do not know what you earned on Monday @ 12%, Tuesday at 11.97%, how are you sure that Total accrued interest is correct, or I should just trust them blindly?
How do you know the specific dates you earned no interest?

1 Like

Re: Mutual Funds by jpphilips(m): 8:55am On Sep 17, 2018
moneywoman74:
Good morning House,

I have been observing from ARM in recent times that there are some days i don't get my interest, that I have reported to them last week and my 5 days interest was calculated and added back to me.

Ok, this morning also i notice that my interest of yesterday has not been added as well, initially I don't monitor my investment don't even calculate i started doing that since two weeks and has been noticing lots lapses one wonders what happened in past months that I don't monitor.

My question: Does these Fund managers pay interest on weekends?

Nope, they are not paid weekends so they can't pay you as well, seems Friday is half, not sure because of Axamansard wahala.
Re: Mutual Funds by Yem0350: 9:25am On Sep 17, 2018
jpphilips:


You think it is normal? Really! go to FMDQ and see all of them getting paid at the close of business on your money but you are not allowed to see how your own business closed for the day, you think it is ok!!
What is total accrued interest when I selected specific dates im interested in?
If you do not know what you earned on Monday @ 12%, Tuesday at 11.97%, how are you sure that Total accrued interest is correct, or I should just trust them blindly?
How do you know the specific dates you earned no interest?

Well, we have different experience.
However, I have always been seeing my accrued interest increasing every day. Even the one for Sat n sun has been added together and credited this morning. Any day I forgot to check, the following day, I will see almost twice of the interest. The daily interest rate indicated on the portal has always being correct.
So far so good, they have been transparent.

Now, tell me which MMF suits your taste (based on what you said)
Re: Mutual Funds by Yem0350: 9:28am On Sep 17, 2018
[quote author=jpphilips post=71269028]

You are lucky ARM gave you the tools to monitor your investment, Axamansard doesn't give you the tool, yet some of their customers here abi agent think it is normal, we have a problem in this country, what you said is precisely what I suspect is going on.[/quote
Which tool is that because I also have account with arm?
Re: Mutual Funds by freeman67: 10:16am On Sep 17, 2018
moneywoman74:
Good morning House,

I have been observing from ARM in recent times that there are some days i don't get my interest, that I have reported to them last week and my 5 days interest was calculated and added back to me.

Ok, this morning also i notice that my interest of yesterday has not been added as well, initially I don't monitor my investment don't even calculate i started doing that since two weeks and has been noticing lots lapses one wonders what happened in past months that I don't monitor.

My question: Does these Fund managers pay interest on weekends?

Stanbic IBTC normally credit the interest accrued for weekends on Mondays..
Re: Mutual Funds by hias2012(m): 12:21pm On Sep 17, 2018
jpphilips:


You think it is normal? Really! go to FMDQ and see all of them getting paid at the close of business on your money but you are not allowed to see how your own business closed for the day, you think it is ok!!
What is total accrued interest when I selected specific dates im interested in?
If you do not know what you earned on Monday @ 12%, Tuesday at 11.97%, how are you sure that Total accrued interest is correct, or I should just trust them blindly?
How do you know the specific dates you earned no interest?


AXA has both mobile and web tools for monitoring your investments. In addition, they have good rates on average most of the time. They also handle redemption within 24hrs of request. They are in fact one of the best. Load the mobile app from playstore by searching with MyAXA. Follow the link below for the web tool. However, you have to have requested for online access. Happy investing.
https://www.axamansard.com/myaxa/index.aspx?ir=1

1 Like

Re: Mutual Funds by stanley102(m): 1:37pm On Sep 17, 2018
Hello. I noticed that the interest on my Stanbic IBTC MMF reduced. Anyone experienced that before? How do I resolve this?
Re: Mutual Funds by elothaddi(m): 9:45pm On Sep 17, 2018
I agree with you with respect to their redemption service. As with regards the daily interest, I have my own excel sheet where I compare the quoted and actual interest and there has not been much difference. The most important thing for me is the redemption service.


hias2012:


AXA has both mobile and web tools for monitoring your investments. In addition, they have good rates on average most of the time. They also handle redemption within 24hrs of request. They are in fact one of the best. Load the mobile app from playstore by searching with MyAXA. Follow the link below for the web tool. However, you have to have requested for online access. Happy investing.
https://www.axamansard.com/myaxa/index.aspx?ir=1
Re: Mutual Funds by Ikmontana1: 12:05am On Sep 18, 2018
pls anyone, does First Bank have an App for Mutual Funds ??
Re: Mutual Funds by irookie(m): 6:34am On Sep 18, 2018
It's time to Port again ooo

A very good morning.

Guys I have learnt a lot from this group and it would be beneficial to share some of the tips i am adopting.

If you know you don't need your cash in 6 month or 1 year time, now is the time to invest in TB (some MMF rates are not juicy again) You can go to your banks and ask for rates GTB, FBN & STANBIC are my picks.

Work out some % of your money and invest bit by bit as the rates might increase over the coming weeks/months.

So if you wanna follow the train...port oooooo
Re: Mutual Funds by Yem0350: 9:47am On Sep 18, 2018
Ikmontana1:
pls anyone,
does First Bank have an App for Mutual Funds ??
No, to the best of my knowledge
Re: Mutual Funds by adedayo77: 11:09am On Sep 18, 2018
Please what is the full meaning of TB?
Re: Mutual Funds by adedayo77: 11:10am On Sep 18, 2018
irookie:
It's time to Port again ooo

A very good morning.

Guys I have learnt a lot from this group and it would be beneficial to share some of the tips i am adopting.

If you know you don't need your cash in 6 month or 1 year time, now is the time to invest in TB (some MMF rates are not juicy again) You can go to your banks and ask for rates GTB, FBN & STANBIC are my picks.

Work out some % of your money and invest bit by bit as the rates might increase over the coming weeks/months.

So if you wanna follow the train...port oooooo

Please what is the meaning of TB?

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