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Re: Mutual Funds by Yem0350: 6:00pm On Sep 19, 2018 |
ajeleomo:From my calculation (today interest x 36500)/ principal 1 Like |
Re: Mutual Funds by Magnetron(m): 6:00pm On Sep 19, 2018 |
Yem0350:Same here. Interest for saturday and sunday is paid on monday. I have no issues with mansard so far. |
Re: Mutual Funds by 6ixgod(m): 7:57pm On Sep 19, 2018 |
Yem0350:But according to the link below, stanbic MMF is 11.55 as at 19/09/18 https://www.stanbicibtcfundsmanagement.com/mfprices |
Re: Mutual Funds by Yem0350: 8:18pm On Sep 19, 2018 |
6ixgod:Yes, according to the website, maybe it is gross interest rate . But based on the actual interest I received today(net interest), it is 10.69. For some days, it has never reached 11%. Note down what you have today and let us see what they will give tomorrow, you will see it will be different from the rate displayed on their site. 2 Likes |
Re: Mutual Funds by hardeydhoying(m): 8:54pm On Sep 19, 2018 |
Hello, Is Treasury Bills capital guaranteed like MMF? |
Re: Mutual Funds by Olohunjedalo(m): 9:09pm On Sep 19, 2018 |
Adayoung:They also show you fake interest rate . My calculations have never tallied with their stated interest rate . This is one of the things I dislike when dealing in any business . Lack of transparency I know what to do But the frequent compounding of interest is cool though |
Re: Mutual Funds by ajeleomo: 9:11pm On Sep 19, 2018 |
Yem0350: Bros today interest is yet to be paid as we speak but you speculated 10.69% earlier, reason why i asked you to provide a link for it. Lets try to give the real fact here in other not to mislead people. An humble advise, no disrespect |
Re: Mutual Funds by Olohunjedalo(m): 9:14pm On Sep 19, 2018 |
6ixgod:because you asked for your interest to be compounded. Your new interest will be calculated from the sum of those little amounts and your original capital . I hope you get me . Lol |
Re: Mutual Funds by Olohunjedalo(m): 9:16pm On Sep 19, 2018 |
6ixgod:Bros . Forget that 11.5 bullshit . I always try to calculate it from time to time . That’s not the true yield . These people are not transparent with their rate or charges . |
Re: Mutual Funds by Olohunjedalo(m): 9:18pm On Sep 19, 2018 |
Yem0350:Yes , you’re very right . My calculations have never tallied with their shitty interest . |
Re: Mutual Funds by Yem0350: 9:29pm On Sep 19, 2018 |
ajeleomo:I was only giving you the formula I used. Use any interest you like. Note what you have today and tomorrow. Then, do the calculation. You will see that what they displayed on their site is never the true yield |
Re: Mutual Funds by Olohunjedalo(m): 9:33pm On Sep 19, 2018 |
hardeydhoying:Treasury Bills is more capital guaranteed than MMF. https://www.nairaland.com/878880/treasury-bills-nigeria |
Re: Mutual Funds by ajeleomo: 9:48pm On Sep 19, 2018 |
Yem0350: ajeleomo: I quite agree with you that it is not same interest displayed and it is same too for other MMF, Lets be reminded they all said that all charges are removed before your interest are paid hence no further charges are experienced on our account, Also lets also be very sure what our Principal is and not use Amount in place of principal hence this will further reduce the interest rate. Note that Amount = Principal + interest Also to further determine Principal, reinvestment is done every 3 months and will we notice our interest restarting, so we should be sure of our principal when making calculation See above my calculation based on yesterday interest 1 Like 1 Share |
Re: Mutual Funds by Yem0350: 10:19pm On Sep 19, 2018 |
ajeleomo:I got exactly 29.3 on 100000 for yesterday. My calculation was also right based on the formula I used |
Re: Mutual Funds by Yem0350: 10:23pm On Sep 19, 2018 |
ajeleomo:Axa gives correct interest oooo. It has always being accurate. I know what principal means . I did it in primary school not to talk about sec school. It is the actual amount I invested. I never even use their so called reinvested interest but only the principal |
Re: Mutual Funds by hardeydhoying(m): 10:33pm On Sep 19, 2018 |
Olohunjedalo:Thanks, I'll go through the thread right away 1 Like |
Re: Mutual Funds by Yem0350: 10:50pm On Sep 19, 2018 |
ajeleomo:I don't know why I am getting lower rate from them. I will send them a mail tomorrow |
Re: Mutual Funds by dotcomnamename: 11:20pm On Sep 19, 2018 |
Olohunjedalo: Please explain why you think Treasury Bills is more guaranteed than Mutual Funds (MMF) |
Re: Mutual Funds by Yem0350: 11:23pm On Sep 19, 2018 |
dotcomnamename:Yes oo We are here to learn |
Re: Mutual Funds by Olohunjedalo(m): 11:32pm On Sep 19, 2018 |
dotcomnamename:Lol Federal Government of Nigeria issues the treasury Bills. The only way you can lost your money in treasury bills is if Nigeria cease to exist . And all these asset management houses also invest most of the money market fund in treasury bills and federal government of Nigeria bonds. I hope you get me . The money you put in money market fund is invested mainly in Treasury Bills ,Federal Government of Nigeria bonds and a few commercial papers. This is why the MMF interest rate hovers around treasury bills rates .and since treasury bills started to decrease from 18% last year ,MMF rates had to be decreasing with it too . P.S: you can’t lost your money in money market fund too though |
Re: Mutual Funds by EsanEmmanuel(m): 3:01am On Sep 20, 2018 |
Yem0350:you and money sha... na bank you suppose dey work � |
Re: Mutual Funds by Olohunjedalo(m): 6:11am On Sep 20, 2018 |
What is happening. Stanbic have not added yesterday’s interest up till this moment |
Re: Mutual Funds by AbbyE: 6:38am On Sep 20, 2018 |
ajeleomo: *Underlying security I meant* ". This means that we will re-invest portions of the accrued interest that relate to matured securities in the Fund. For instance, once any of the underlying securities in the fund attains maturity, the accrued interest that pertains to such underlying security would be automatically reinvested on your Money Market Fund account" I have only used Stanbic and AXA so I can't do a comparison of ARM |
Re: Mutual Funds by naijaobi(m): 7:18am On Sep 20, 2018 |
Olohunjedalo:This is total falacy, Sir. Both are capital guranteed. There's nothing like more guranteed |
Re: Mutual Funds by Olohunjedalo(m): 7:48am On Sep 20, 2018 |
naijaobi:ikr |
Re: Mutual Funds by ajeleomo: 7:58am On Sep 20, 2018 |
Olohunjedalo: From the information here we can see AXA, ARM, Investment one MMF all having interest rate of 12% and above so what is the current interest rate for treasury bills that makes it more profitable? |
Re: Mutual Funds by Yem0350: 8:00am On Sep 20, 2018 |
EsanEmmanuel:Smile |
Re: Mutual Funds by ajeleomo: 8:19am On Sep 20, 2018 |
Yem0350: Bros i opened an account of N20,000 for my little baby on ARM this week and my first interest of N6.39 just came, Abeg help me calaculate the percentage interest they used coz their rep said interest was 12.2 as at yesterday but am not sure again if my formular is correct oooo or do they have their own private calculator they use that we dont know? And please kindly show calculation for AXA based on yesterday too. i will really appreciate this coz am so ready to port oooo |
Re: Mutual Funds by Yem0350: 8:31am On Sep 20, 2018 |
ajeleomo:ARM gave you 11.66% Axa is 11.99% |
Re: Mutual Funds by ajeleomo: 8:44am On Sep 20, 2018 |
Yem0350: Thanks i do appreciate this, We can all see we dont receive what we were told based on interest rates displayed. Yesterday you did say it was 12.07 and a customer service personal told me its 12.05 but according to you now its actually 11.99%. Bros do you know if AXA still deduct the 1.25% Annual management fee? |
Re: Mutual Funds by Olohunjedalo(m): 8:53am On Sep 20, 2018 |
ajeleomo:Lol , rates for Treasury bills depends . But 364 days tenor hovers around 13% as at previous auction. I will update you this week’s auction interest rates when people are debited between today and tomorrow. And like I said your money that you put in MMF is still being invested in Treasury bills by ARM and co. |
Re: Mutual Funds by Yem0350: 8:56am On Sep 20, 2018 |
ajeleomo:12.07 was the rate displayed yesterday for tue 11.99 was the rate displayed this morning for yesterday. I hope you are cleared now. All interest credited are net interest, so management fee has been deducted |
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