Hello
I just invested 500k in Stanbic MMF. I am looking at their online trading platform, is it any good? how does it compare to Morgan?

xcitedjay:


I log in on a daily basis to view my account. Also same day payment reflection/liquidation can be achieved if action is carried out early enough.

Thanks Xcitejay.

That sounds encouraging . I'll work towards doing business with them

please i will like to know if it's possible for someone to liquidate only the interest on MMF while leaving the initial investment?

Yes

[1quote author=yak post=65972636]

u did everything online?[/quote]

Please have they got an app?

elothaddi:
Yes

[1quote author=yak post=65972636]

u did everything online?

Yes they do.

Jessglam:
Please have they got an app?

onyechimereze1:
please i will like to know if it's possible for someone to liquidate only the interest on MMF while leaving the initial investment?

Don't think they allow that. Liquidation is usually done only on your investment or after interest have been credited to your initial investment.

Using the AXA Mansard app, I tried increasing my funds in my account only to notice an additional 1k ''transaction charge'" so I stopped and tried their website and there was no such charge. So my question is, do we always have these 'charges' when using the AXA Mansard app ?

elothaddi:
Using the AXA Mansard app, I tried increasing my funds in my account only to notice an additional 1k ''transaction charge'" so I stopped and tried their website and there was no such charge. So my question is, do we always have these 'charges' when using the AXA Mansard app ?

I experienced the same thing some time ago. Since then I have opted for the online instead of the app.

A snapshot of the spreadsheet is attached below.

Thoughts

– ARM does not compound until the interest realised is distributed at the end of a quarter (3 months). Stanbic compounds with the interest once a week, but only adds a small fraction of the realised interest for this purpose (circa 7%).

– There is a marked difference in actual interest accrued compared with the quoted effective yield. This is more pronounced for ARM.

Thanks for your response.

shegonchy:


I experienced the same thing some time ago. Since then I have opted for the online instead of the app.

ImperialCovfefe:
A snapshot of the spreadsheet is attached below.

Thoughts

– ARM does not compound until the interest realised is distributed at the end of a quarter (3 months). Stanbic compounds with the interest once a week, but only adds a small fraction of the realised interest for this purpose (circa 7%).

– There is a marked difference in actual interest accrued compared with the quoted effective yield. This is more pronounced for ARM.

Hi ImperialCovfefe,

Thank you for sharing this, i also noticed this with axa mansard, for the period i checked there is a difference of >= 0.30% between percentage yield as stated on the site and what was actually used for interest computation.

This is worrisome, i wonder if there is an explanation for this or bad practice by these asset managers.

PS: thanks everyone for posts shared, i bet this posts have helped many in making informed decisions.

Stanbicibtc website not showing the green "secured connection" logo.

Are we actually safe or some people are trying to tamper with the site

kaze4blues:
Stanbicibtc website not showing the green "secured connection" logo.

Are we actually safe or some people are trying to tamper with the site

I will try a re-login, if it didnot give a padlock sign , i will check later.

Hello house, how do i top up my Stanbic MMF from the App?

Nice thread

haibe:
Hi guys.

So stanbic has rectified my issue. I have received the value . In their mail to me, it read: Please be informed that this has been rectified and you have been given value as at 09 January 2018. The transaction date is 06 February, 2018 but the value was as at 09 January 2018. does this mean all my interests from 9 Jan is included? If yes, is there an estimate of what this interest would amount to? The principal is 450,000.

I am asking because i cant see any interest in the fund.

Thanks

I am so happy that your issue was resolved... I was following your case and silently prayed for you.
Such 'affliction' will never rise again....

My problem with Stanbic is that they take too much time in resolving issues. Time is money.

awesomeJ:
Stanbic's yield today inched up to 14.95%. I pray it stays well above 15 in the days to come.

Hello,
please this mutual funds thing, is the interest daily or montly?
thanks.

gagzee:

Hello,
please this mutual funds thing, is the interest daily or montly?
thanks.

The interest rate is per annum.
But the interest accrues daily.

For instance, if you put 1m,
At 14.4%, your interest for a year would be 144,000, ignoring the compounding effect.

On a daily basis, you'd earn about #400.00 as interest.

afope:
Hello
I just invested 500k in Stanbic MMF. I am looking at their online trading platform, is it any good? how does it compare to Morgan?

Theirs isn't a trading platform really.

Actually Stanbic's MMF and Morgan's iTRADE, are not comparable vehicles.

But, from my own experience, both platforms are great.

awesomeJ:

The interest rate is per annum.
But the interest accrues daily.

For instance, if you put 1m,
At 14.4%, your interest for a year would be 144,000, ignoring the compounding effect.

On a daily basis, you'd earn about #400.00 as interest.

oh, thanks alot

awesomeJ:
Theirs isn't a trading platform really.
Actually Stanbic's MMF and Morgan's iTRADE, are not comparable vehicles.
But, from my own experience, both platforms are great.

Please Bro,does SIBTC still issue certificate when you invest in their MMF?

eezeribe:


Please Bro,does SIBTC still issue certificate when you invest in their MMF?

Yes sir.

But it's an e-certificate in PDF.

You may however print it to obtain a hard copy.

awesomeJ:
Yes sir.
But it's an e-certificate in PDF.
You may however print it to obtain a hard copy.

OK,thanks very much for your quick response...

Hello House,
Please i need the house to throw more light on FBN, Eurobound Dollar, investment. Please how does it work, is it a good investment.

Waiting for your answer.

TIA

Guys, please i need your advice. Has anyone done FBN, Eurobound Dollar investment? Please shade more light to me on how it goes.

xcitedjay:
My problem with Stanbic is that they take too much time in resolving issues. Time is money.

Reason why I opt for Axa mansard, timely response is important

awesomeJ:

Yes sir.

But it's an e-certificate in PDF.

You may however print it to obtain a hard copy.

Please Bro,if someone wants to invest in SIBTC MMF physically and doesn't have an account in stanbic IBTC;how will the funds be transferred?
cc:xcitedjay

eezeribe:

Please Bro,if someone wants to invest in SIBTC MMF physically and doesn't have an account in stanbic IBTC;how will the funds be transferred?
cc:xcitedjay

When i invested in stanbic mmf, after filling the forms there was an account number I transfered the money into. Sent the transfer receipt to the email of the person in charge who printed it and attached it to my forms.

Flaj:

When i invested in stanbic mmf, after filling the forms there was an account number I transfered the money into. Sent the transfer receipt to the email of the person in charge who printed it and attached it to my forms.

OK thanks very much...

I subscribed to stanbic ibtc money market with 100k about two weeks ago, my subscription was activated last Friday, I logged in today and saw 119 Naira as interest. I don't have to check if this is for the two weeks or just for some days