Hey guys. I'm new to this money market fund. I have subscribed to IBTC MMF. I noticed my interest only accumulates on work days. Is this the norm. I heard interest should be daily irrespective (including weekend and public holidays).

Experts in the house, please clarify.

DrOBD:
Hey guys. I'm new to this money market fund. I have subscribed to IBTC MMF. I noticed my interest only accumulates on work days. Is this the norm. I heard interest should be daily irrespective (including weekend and public holidays).

Experts in the house, please clarify.

Interest on days gets added on the next available work day.

Lets say you earn 100 naira daily, on Saturday nothing will be added, on Sunday nothing will be added and on monday, 300 will be added.

Psychodavidovic:


Interest on days gets added on the next available work day.

Lets say you earn 100 naira daily, on Saturday nothing will be added, on Sunday nothing will be added and on monday, 300 will be added.

Thanks.

Is the interest constant or it fluctuates...

Psychodavidovic:


Interest on days gets added on the next available work day.

Lets say you earn 100 naira daily, on Saturday nothing will be added, on Sunday nothing will be added and on monday, 300 will be added.

What about public holidays

Please help me on how to subscribe using the app

DrOBD:


Thanks.

Is the interest constant or it fluctuates...

Fluctuates

netzro:
Please help me on how to subscribe using the app

Download their app

Yem0350:

Fluctuates

Thanks

I just logged on to my fbnquest account and was surprised to see that the current value of my portfolio was reversed to the initial invested amount. Consequently, total accumulated units have also been reversed to the principal units. Did you or anyone else experience the same?. This is not funny at all oooo

michael18:
fbn is yet to update anything oooo.... any one with similar issue. not smiling

seyisanya:
I just logged on to my fbnquest account and was surprised to see that the current value of my portfolio was reversed to the initial invested amount. Consequently, total accumulated units have also been reversed to the principal units. Did you or anyone else experience the same?. This is not funny at all oooo

This is normal if you selected the reinvestment option. Hence, your accrued interest or units has been invested (now your capital)

Many thanks for your response, Yemi. You are right, I selected the reinvestment option but I expected that the accrued interest would be added to my previous capital before the reinvestment of the cumulative sum.

Yem0350:

This is normal if you selected the reinvestment option. Hence, your accrued interest or units has been invested (now your capital)

seyisanya:
I just logged on to my fbnquest account and was surprised to see that the current value of my portfolio was reversed to the initial invested amount. Consequently, total accumulated units have also been reversed to the principal units. Did you or anyone else experience the same?. This is not funny at all oooo

Bros. be patient. they are updating data. usually within the first week of a new quarter they will update so that those who opt for reinvestment of their interest will be done while interest will be paid to those who opt for payment of interest at each quarter. don't worry yourself your investment is intact. However if after Friday of next week you have such issue send mail to ccu@fbnquestmb.com

emmasoft:

Bros. be patient. they are updating data. usually within the first week of a new quarter they will update so that those who opt for reinvestment of their interest will be done while interest will be paid to those who opt for payment of interest at each quarter. don't worry yourself your investment is intact. However if after Friday of next week you have such issue send mail to ccu@fbnquestmb.com

Thanks Emmasoft! All sorted now, I actually enjoy their service. Infact, I just made additional funds towards my MMF investment. I really appreciate the time you dedicated towards responding to my concern.

Yem0350:

This is normal if you selected the reinvestment option. Hence, your accrued interest or units has been invested (now your capital)

All sorted now. Thanks once again.

seyisanya:
Thanks Emmasoft! All sorted now, I actually enjoy their service. Infact, I just made additional funds towards my MMF investment. I really appreciate the time you dedicated towards responding to my concern.

Pls, what is their current interest rate for money market ?

Yem0350:

Pls, what is their current interest rate for money market ?

13.40% as at 31st Dec. 2018
https://fbnquest.com/asset-management/fund-prices-and-performance/?nav=

Nice thread I must say... I think a higher percentage of people on here subscribed to FBN and IBTC. I actually think ARM returns a slightly higher percentage than others. My opinion tho after studying the market for months

Stanbic Gurus, please how soon does SIBTC pay dividends for bonds/equity funds for the year ended 31 December 2018?. AXA paid theirs on 31 December

Akby:
Nice thread I must say... I think a higher percentage of people on here subscribed to FBN and IBTC. I actually think ARM returns a slightly higher percentage than others. My opinion tho after studying the market for months

What is ARM rate?

Ias1:
Hello, I don't know much about the USD investments, but for the MMF for 6 months you should be looking at about ₦30k

You mean 500k will give you just 30k after 6months?

Yem0350:

What is ARM rate?

Yesterday was 12.98%
Axa was 12.1%
IBTC was I think 12%

The trend goes on and on. Hope I'm not hurting other agents on here? Just trying to be as objective as possible.

Thanks

Akby:


Yesterday was 12.98%
Axa was 12.1%
IBTC was I think 12%

The trend goes on and on. Hope I'm not hurting other agents on here? Just trying to be as objective as possible.

Thanks

Can anybody give us FBN MMF as at yesterday?

Yem0350:

Can anybody give us FBN MMF as at yesterday?

FBN as at 02 01 2019
13.14%
https://fbnquest.com/asset-management/fund-prices-and-performance/?nav=

emmasoft:


FBN as at 02 01 2019
13.14%
https://fbnquest.com/asset-management/fund-prices-and-performance/?nav=

Hence, FBN is better than ARM then. Also, this may change as time goes on.

Yem0350:

Hence, FBN is better than ARM then. Also, this may change as time goes on.

Well I don't know much about FBNQuest but I'll understudy them for the next one month as the figure fluctuates daily. If their performance is better, I'll be moving my funds there no doubt

Bulaveur:



You mean 500k will give you just 30k after 6months?

Bros you think say na kalo' kalo? Or ponzi scheme that promises nonexistent bogus profit margins? LMAO!

Please can someone tell me how to monitor my profit on arm money market fund. I have not recieved any message regarding my profit for over a month now

od4life:

Bros you think say na kalo' kalo? Or ponzi scheme that promises nonexistent bogus profit margins? LMAO!

kenkel:
Please can someone tell me how to monitor my profit on arm money market fund. I have not recieved any message regarding my profit for over a month now

Login and check your accrued interest

My online redemption since Monday is still hanging on stambic IBTc what's going on.

od4life:

Bros you think say na kalo' kalo? Or ponzi scheme that promises nonexistent bogus profit margins? LMAO!

low risk low profit, high risk high profit. it's up to you. invest base on your level of risk appetite.

ijeshaboy:
My online redemption since Monday is still hanging on stambic IBTc what's going on.

officially waiting time is 5 working days. it's still normal. you can complain after COB on Monday if you have not got credit alert.