I redeemed some fund early yesterday, I am yet to be paid is it possible I can be paid today since it's a public holidays.

GonFreecss1:


I did some research on this, and Stanbic GIF is actually quite okay. They made a return of over 73% in 5 years. I feel it has a long term feel to it too. If you need a 25% exposure to equity, and your money is guaranteed after 3 months.

Thank you! I'm aware of these stats, thats why i got interested. I'm more particular about a sample of a real yield from a real Investment in the fund. I'd like to compare with the mmf.

Hi guys, is there any other way to check my investment IN FBN Quest aside using the App?

GonFreecss1:
So guys I did some research on the Stanbic MMF and I feel it's not transparent enough. Will be posting my findings soon...

None of them is

Ias1:
Hi guys, is there any other way to check my investment IN FBN Quest aside using the App?

You can do that on the FbnQuest website.

DBestDoc:



You can do that on the FbnQuest website.

Thank you, found that I still have to register for it

rationalmind:


None of them is

True. Very true.

SamReinvented:


Thank you! I'm aware of these stats, thats why i got interested. I'm more particular about a sample of a real yield from a real Investment in the fund. I'd like to compare with the mmf.

I think some people here might be able to help with that...

So I saw everyone arguing about the Money market funds the best firm with the best rates, people mention Stanbic, some Arm, some Axa mansard... you are all wrong!

The firm with the best money market rate out there consistently is FBN Quest!

And they have one of the cheapest, if not the cheapest management fees.

The current firm with the best money market rate now is United Capital, followed by FBN quest I think.

I had to modify this, the investment house with the best and consistent money market rate is actually Stanbic IBTC, theirs have been consistently high, but the reason I think FBN quest is better are the fees, Stanbic charges more and this will affect your overall return.

GonFreecss1:
So I saw everyone arguing about the Money market funds the best firm with the best rates, people mention Stanbic, some Arm, some Axa mansard... you are all wrong!

The firm with the best money market rate out there consistently is FBN Quest!

And they have one of the cheapest, if not the cheapest management fees.

The current firm with the best money market rate now is United Capital, followed by FBN quest I think.

What are their rates like?

emmy4lov:

What are their rates like?

United Capital's last interest rating was 12.52%, FBN quest 12.48%

GonFreecss1:
So guys I did some research on the Stanbic MMF and I feel it's not transparent enough. Will be posting my findings soon...

Please share your findings. Thank you.

texas1:


Please share your findings. Thank you.

So I did call their customer care, and found out that it's not all part of the interest that they actually reinvest. Remember how we all agree that's one of the advantages for Stanbic? well imagine my surprise when there was now talk about maturity of said interest and the probability that not all your funds might have been used to buy Tbills in the primary market, meaning some part of your principal is not working, hence the lower rates compared to the daily given rates? (i.e only 95% of your principal invested?), this leaves me with so many more questions and the fact that we are at their mercy.

My conclusion is this, most of this investment houses if not all are not transparent with the fees and rates advertised. There is still much more we as customers need to know, as far as arguing which one is better, I am beginning to feel that is the wrong argument. We should be asking which firm is the most transparent..., unfortunately I have another theory that states that the moment a lot of people flock to what we assume is the most transparent of all, after a while there will be discrepancies once again.

For instance, I studied the money market fund for United Capital over the years, currently they have the highest rate of 12.52% net of fees, but did you know there were times and days when other funds had over 10% rates, united capital in question had rates as low as 5%! can you believe that? money market rate! I didn't believe the discrepancies myself, and checked other firms some had a return rate of 0%! nothing! while others had good rates, there was a time FBN and others had a money market rate of 6-7%, and Stanbic surprisingly had 9%, unbelievable! to even make matters more confusing, sometimes during this period, United Capital had an almost constant 11-13% money market rate. And FBN had one of the highest rates ever of 20%, while Stanbic had the most consistent higher rates over time, followed by FBN money market rate. At first I thought it was FBN, but I decided to go back and check the STanbic rates, I was shocked. This and some other things are what I saw, I can't draw up a final conclusion for now though.

Also, does anyone here use Investment One? I have seen the talks on investment one has been sparingly short. The reason I am asking is my other findings...

My question is if anyone uses their services here? can you tell us what you think about them?

GonFreecss1:
Also, does anyone here use Investment One? I have seen the talks on investment one has been sparingly short. The reason I am asking is my other findings...

My question is if anyone uses their services here? can you tell us what you think about them?

I use them, so far so good there Services are good, the keep looking for ways to use fintech to improve there service delivery, I have never tried comparing rates, reason been I believe all asset houses offer the same rate on the average, the way to verify this is to ask each house for there quarterly fact sheet, add the rates the quote for the three months and divide by 3 to get the rate for the quarter, the variance among is not much. It is better to base your comparison on there fact sheet because some of the rates you see online are still subject to adjustment. You may ask why, running a valuation on the performance of this funds can be very tasking, so it would be good to cut them some slack.

If you keep moving your funds from one house to another because of a temporary difference of 0.5% you maybe loosing on the long run

ernie4life:


I use them, so far so good there Services are good, the keep looking for ways to use fintech to improve there service delivery, I have never tried comparing rates, reason been I believe all asset houses offer the same rate on the average, the way to verify this is to ask each house for there quarterly fact sheet, add the rates the quote for the three months and divide by 3 to get the rate for the quarter, the variance among is not much. It is better to base your comparison on there fact sheet because some of the rates you see online are still subject to adjustment. You may ask why, running a valuation on the performance of this funds can be very tasking, so it would be good to cut them some slack.

If you keep moving your funds from one house to another because of a temporary difference of 0.5% you maybe loosing on the long run

Rightly said. I couldn't have said that better. From my findings they are almost all the same over a period of time.

Is this a Ponzi scheme ?

9jaboy1:
Is this a Ponzi scheme ?

No; its not

@Gonfreecss1, am a newbie trying to venture into MMF. Can you please share an insight/advice that a newbie can take before entering. And what do you think is the best investment house to invest in. Is it stanbic or arm or any other bank?

GonFreecss1:
So I saw everyone arguing about the Money market funds the best firm with the best rates, people mention Stanbic, some Arm, some Axa mansard... you are all wrong!

The firm with the best money market rate out there consistently is FBN Quest!

And they have one of the cheapest, if not the cheapest management fees.

The current firm with the best money market rate now is United Capital, followed by FBN quest I think.

I had to modify this, the investment house with the best and consistent money market rate is actually Stanbic IBTC, theirs have been consistently high, but the reason I think FBN quest is better are the fees, Stanbic charges more and this will affect your overall return.

why is no one talking about SFS FIF account which is currently at 12.61% and gave a guaranty of not going below 12%

I AM FEELING PISSED RIGHT NOW. I OPENED AN MMF ACCOUNT WITH AXA MANSARD LAST WEEK THURSDAY AND FUNDED THE ACCOUNT ON FRIDAY LAST WEEK VIA WEB PAYMENT. MY ACCOUNT WAS DEBITED, AND AXA SENT A CONFIRMATION MAIL TO ME. HOWEVER, AS I SPEAK WITH YOU NOW MY AXA MMF ACCOUNT IS READING ZERO (0) NAIRA. I HAVE CHATTED WITH CUSTOMER CARE ALL TO NO AVAIL. What exactly is going on is what I don't know o. My account has remained dormant since with nothing in my account statement section. Nothing anywhere!

will007:
@Gonfreecss1, am a newbie trying to venture into MMF. Can you please share an insight/advice that a newbie can take before entering. And what do you think is the best investment house to invest in. Is it stanbic or arm or any other bank?

All this houses are the same, they all have problems and none are perfect.

I will recommend Stanbic. From their historical rates and some other factors.

You can also check out FBN, Axa Mansard, Arm or United Capital. But my recommendation for now is still Stanbic.

coolangel54:
I AM FEELING PISSED RIGHT NOW. I OPENED AN MMF ACCOUNT WITH AXA MANSARD LAST WEEK THURSDAY AND FUNDED THE ACCOUNT ON FRIDAY LAST WEEK VIA WEB PAYMENT. MY ACCOUNT WAS DEBITED, AND AXA SENT A CONFIRMATION MAIL TO ME. HOWEVER, AS I SPEAK WITH YOU NOW MY AXA MMF ACCOUNT IS READING ZERO (0) NAIRA. I HAVE CHATTED WITH CUSTOMER CARE ALL TO NO AVAIL. What exactly is going on is what I don't know o. My account has remained dormant since with nothing in my account statement section. Nothing anywhere!

Keep disturbing them, hopefully your case will be handled.

Desanta:


Why do you say so?

Bros, because I know so... Stanbic is the best. Forget all these figures some are quoting here. The termite will still fall for the frog after flying around.

coolangel54:
I AM FEELING PISSED RIGHT NOW. I OPENED AN MMF ACCOUNT WITH AXA MANSARD LAST WEEK THURSDAY AND FUNDED THE ACCOUNT ON FRIDAY LAST WEEK VIA WEB PAYMENT. MY ACCOUNT WAS DEBITED, AND AXA SENT A CONFIRMATION MAIL TO ME. HOWEVER, AS I SPEAK WITH YOU NOW MY AXA MMF ACCOUNT IS READING ZERO (0) NAIRA. I HAVE CHATTED WITH CUSTOMER CARE ALL TO NO AVAIL. What exactly is going on is what I don't know o. My account has remained dormant since with nothing in my account statement section. Nothing anywhere!

The question is what time was the deposit made on Friday? Coz if you made payment after 2pm it will be treated on the next business day.
Note Saturday, Sunday and Tuesday are breaks between your transaction else only Monday was a working day. For me your account issue will be resolved between now and tomorrow most likely

THAT IS WHAT I AM DOING RIGHT NOW

GonFreecss1:


Keep disturbing them, hopefully your case will be handled.

I paid at exactly 12:35:54 pm on Friday last week.

ajeleomo:


The question is what time was the deposit made on Friday? Coz if you made payment after 2pm it will be treated on the next business day.
Note Saturday, Sunday and Tuesday are breaks between your transaction else only Monday was a working day. For me your account issue will be resolved between now and tomorrow most likely

GonFreecss1:


All this houses are the same, they all have problems and none are perfect.

I will recommend Stanbic. From their historical rates and some other factors.

You can also check out FBN, Axa Mansard, Arm or United Capital. But my recommendation for now is still Stanbic.

Thank you for your swift response.

Can I set up an account with stanbic by using their application. Because, at the moment,I have no access to banks due to my current location.

so guys from what I have battered from this thread is it cool opening an account with stanbic or Axa mansard cos am still deciding
please I need an honest advise from experienced investors
thanks

jagadab:
so guys from what I have battered from this thread is it cool opening an account with stanbic or Axa mansard cos am still deciding
please I need an honest advise from experienced investors
thanks

Go with Stanbic it's their core biz.

will007:



Thank you for your swift response.

Can I set up an account with stanbic by using their application. Because, at the moment,I have no access to banks due to my current location.

I don't think so, but you can send them an email I believe you can fill the forms and send it back to them to open your account.

will007:



Thank you for your swift response.

Can I set up an account with stanbic by using their application. Because, at the moment,I have no access to banks due to my current location.

You can set up an account with the app. But you'll have an investment limit of 200k. Your account will become unrestricted when you walk into their office or any Stanbic IBTC branch to fill the application form and provide your means of identification