Ojix85:
Hello guys, please I need some clarification.

How frequently are the proceeds from Stanbic IBTC MMF paid?

Since daily rates change, is my MMF account credited with the days rate at the end of the day?

Can you leverage on compound interest when investing in a mutual fund, like Stanbic MMF?

Thanks.

It is credited to your MMF account daily after the close of work but weekends it's carried over to Monday morning. If you have online access or their mobile app you can monitor online yourselves daily by 08:00pm weekdays.

The payout of interest is done on quarterly basis. You can choose if u want it reinvested or credit to the bank account you gave them.

freeman67:


It is credited to your MMF account daily after the close of work but weekends it's carried over to Monday morning. If you have online access or their mobile app you can monitor online yourselves daily by 08:00pm weekdays.

The payout of interest is paid out on quarterly basis. You can choose if u want it reinvested or credit to the bank account you gave them.

Thank you.

ernie4life:
Kakawa Guaranteed Income fund(kgif)

12% interest per annum
Interest paid twice a year.
Minimum investment is 50k
No with holding tax
Principal is guaranteed anytime 
Managed by Investment One financial services( formerly GTB asset management) 

so wats the ROI of 50k after one month wit 12% rate

mrcas:

so wats the ROI of 50k after one month wit 12% rate

500

can some take out some money from thier MMF account without terminating the whole scheme?

omoharry:
can some take out some money from thier MMF account without terminating the whole scheme?

Yes you can, just state the amount you want to redeem on the redemption form.

sammily:


Yes you can, just state the amount you want to redeem on the redemption form.

Thanks.

Top performing Mutual funds

https://www.businessdayonline.com/abacus-cordros-lead-money-market-fund-returns/

who says mutual funds dont pay more than 10%. I currently earn close to 18% on my mutual fund. Best ever though because the CBN is maintaining current MPR status quo.

I am making cool cash every single day with my android phone. I dont even need to open my laptop these days . I created a thread on it here
https://www.nairaland.com/3820609/life-changing-investment-just-keep#56865722

Ups01:
@Carpenter @Ernie4life Thanks for your immense contribution on this thread.

is it advisable to go into Mutual Fund in 2017?

FBN MMF customer care is annoyingly too slow, is there a better Mutual Fund Company with less complexity and better customer service?

cc:
feelamong
naijainvestor

AXA Mansard current rate as at today is 17.7%.
www.axamansard.com

[/color][color=#000099] ernie4life nd carpenter. Can u pls give details about abacus money market fund from investment one?

@ernie4life nd @carpenter. Can u pls give details about abacus money market fund from investment one?[/quote]

Temesco:
@ernie4life nd @carpenter. Can u pls give details about abacus money market fund from investment one?

Abacus is one of the oldest unit trust.
It was recently acquired by investment one funds management limited and converted into a money market fund.
United capital trustee are the registrars/ trustees, Stanbic IBTC are the custodians.
Augusto Co rated the fund A+.
Based on the current performance of the fund seems investment one fund management are doing a good job because the performance of the fund was the highest in may.
Minimum subscription is 1k
Pays dividend quarterly
Asset classification is 100% money market
So far so good everything seems alright.

ernie4life:


Well I think 13.75% is a good deal but not good enough at 1million for a year, investment-one MY PASS offers 14% net( no withholding tax, no managerial fee) for same amount for same tenure.

My thoughts though

I have gotten hold of the electronic copy of myPass investment prospectus and I am willing to subscribe to it but since I am not resident in any of the states of your branches locations, please explain to me in plain terms on how I can remotely tap into the investment using "the electronic window provided for subscription form submission". I am not quite sure whether I am to scan and send the filled subscription form plus other attachment documents after making payment or to wait until the account is opened for me before making payment.
Please your response is needed ASAP ernie.

drcliff:


I have gotten hold of the electronic copy of myPass investment prospectus and I am willing to subscribe to it but since I am not resident in any of the states of your branches locations, please explain to me in plain terms on how I can remotely tap into the investment using "the electronic window provided for subscription form submission". I am not quite sure whether I am to scan and send the filled subscription form plus other attachment documents after making payment or to wait until the account is opened for me before making payment.
Please your response is needed ASAP ernie.

Scan and send to them.
You can either do the transfer now or wait till the day the account is created(which should not be long) either ways your investment starts counting from the day they receive value.

Please nairalanders Am in need of your helps badly...An accommodation fee of 30k...please any amount will be appreciated... I only have two days left before my landlord push me out..please help me out..here my account GTB 0171003977...Thanks everyone!.
God bless.

tnks @erni4life bt what is d interest rate like?

Temesco:
tnks @erni4life bt what is d interest rate like?

Today it closed at 17.60%

[quote author=ernie4life post=57203872]


Scan and send to them.
You can either do the transfer now or wait till the day the account is created(which should not be long) either ways your investment starts counting from the day they receive value.

Thnx very much ernie4life but I must say dat those interest rate on kgif are enticing, between kgif & myPass which is better?

[quote author=drcliff post=57225383][/quote]

In my opinion stick to ABACUS because it's a money market fund and the current performance is high at the moment

ernie4life:


In my opinion stick to ABACUS because it's a money market fund and the current performance is high at the moment

Given ur versatile knowledge & wealth of experience, do u think dat ABACUS can outperform myPass if both investment can b held to maturity?

drcliff:


Given ur versatile knowledge & wealth of experience, do u think dat ABACUS can outperform myPass if both investment can b held to maturity?

Yes
Consider the fact that ABACUS Pays out dividend every 90 days which can be added to capital to form a higher capital for the next quarter which translates to a higher yield the next quarter.
The only down side is since ABACUS is a money market fund, if there is a reduction in interest rate, it will affect performance of all money market funds

Ernie4life Hw Do I Contact U?

Ogborokiri:
Ernie4life Hw Do I Contact U?

PM will be perfect

Good day my fellow investors. I have an account with FBN MMF, but my issue is dat they have slow customer service, that are not really friendly. I need a strong mutual fund, that can stand d test of time and offer good security for my investment. Thanks

NB: I have been with FBN since 2011 and I'm officially tired of them.

Good job

sgtponzihater:
Good day my fellow investors. I have an account with FBN MMF, but my issue is dat they have slow customer service, that are not really friendly. I need a strong mutual fund, that can stand d test of time and offer good security for my investment. Thanks

NB: I have been with FBN since 2011 and I'm officially tired of them.

I feel ur pain. fbn mmf guys can be very slow to response, one of the reasons I got discouraged from going back into mutual funds after a while. well according to hearsays and reports, stanbic ibtc fund managers seems to be doing an excellent job. Being at the top of the mutual fund ladder in Nigeria, its no surprises actually that they are doing everything humanly possibly to satisfy their customers.

If you would switch from fbn which I would suggest you should, then your next stop should be at stanbic ibtc.

chukzyfcbb:

I feel ur pain. fbn mmf guys can be very slow to response, one of the reasons I got discouraged from going back into mutual funds after a while. well according to hearsays and reports, stanbic ibtc fund managers seems to be doing an excellent job. Being at the top of the mutual fund ladder in Nigeria, its no surprises actually that they are doing everything humanly possibly to satisfy their customers.

If you would switch from fbn which I would suggest you should, then your next stop should be at stanbic ibtc.

I abandoned my FBN account, guess my money is still growing. Do u know how safe mutual funds are for like 15yrs investment.

sgtponzihater:


I abandoned my FBN account, guess my money is still growing. Do u know how safe mutual funds are for like 15yrs investment.

well 15years is a whole lot of time to say what can happen, but I can say the money market department of the entire mutual fund pool is a very safe department.

will it last 15yrs? that's a whole lot of time to tell
but with its current stance in Nigeria, it will last a great deal

Hello House,

Any Stanbic IBTC MMF subscriber in the house?

No interest accrued on my MMF account for yesterday.

Can another subscriber confirm?

Thanks.