kaze4blues:


Were you paid the total interests for three months? Pls how does it work? I started in January 25 but I've not been credited any amount in my account

Cation:
Don't be bothered, first quarter of 2018 is about to end. starting from 4th April the accrued interest will be paid into ur bank account or added to ur capital depending on what you filled in ur form. Another 3 months from now will be the end of 2nd quarter. There are four quarters in a year.

dotcomnamename:



Good morning,

My Q1 2018 income was deducted from my Mutual Funds account and transferred to my nominated bank account as mandated by my kind self. However, my income subjected to withholding tax of 10% and interbank transfer charge of N52.50.

You get it now?

shegonchy:


There is a misunderstanding or should I say discrepancy here. Your income shouldn't be subjected to tax, it's shouldn't be taxable. Do confirm with your financial institution

Edicoco:
You were right, I got credited yesterday. Thanks for the explanation

nicerod:
Please can I use to accounts to do MMF as I used my stanbic account and I want to subscribe with another account instead of topping up with stanbic account

Ademat7:
will you like to join axa mansard,their rate is good and they have excellent customer care support,if yes gv me your email and i will send you a referral link

Fiyinfoluwa20:
Dear All,

Please, I am invested in the StanbicIBTC Equity Funds, largely weighted on the performance of blue chip stocks on the NSE(c.60 percent). Earlier this year, I recorded about c.12% growth over capital invested. However, I didn’t make any withdrawals at that point. Surprisingly, in February alone, all my gains have been eroded, and I have a meagre 2-6% over capital invested. The question is:

1. Is it possible to always make withdrawals of all my gains when it is in the region of 8-10%

- If yes, how do I go about this ?

nicerod:

Tell me about it first

coolangel54:
I intend visiting Stanbic IBTC next week to enroll in the Mutual money fund investment. I want to start with N20,000 for now but I intend increasing it monthly. I am hustling for now but I really need to invest for tomorrow. How do I calculate returns daily, monthly and yearly? I was actually taught but I have forgotten the process. Thank you

shegonchy:


There is a misunderstanding or should I say discrepancy here. Your income shouldn't be subjected to tax, it's shouldn't be taxable. Do confirm with your financial institution

austine4real:
pls stanbic interests is it daily weekly or monthly?

dotcomnamename:



No, that is somehow not correct. If your mandate is for your interest to be reinvested in the fund, it does not attract withholding tax but if the income is paid to your bank, it attracts withholding tax as evident in the table below.

ImperialCovfefe:


There is no withholding tax for bonds (10-year tax waiver) and short term government securities.

I was also credited my accrued interest by ARM, and there was no withholding tax deducted. Only a commission (for bank transfer) + VAT-on-commission fee of N52.50 was charged.

dotcomnamename:



Well, that is according to StanbicIBTC and about 3 different branches said the same after thorough investigation...

olyrayy:
This thread is for Mutual Funds but it seems that majority of the focus is on MMFs. I quite understand this, as most people are scared of losing their hard-earned funds. I, on the other hand, am quite young and practically have nothing to lose

So, I'm kind of interested in equity mutual funds. Can any of the ogas here help out in this regard?

For instance, are closed funds the same as ETFs? Also, when the stock market dips, does this affect the Net Asset Value of equity funds?

Thanks a lot.

ImperialCovfefe:


Are you positive ARM deducted withholding tax from your accrued interest? If yes, you need to query them immediately.

olyrayy:
This thread is for Mutual Funds but it seems that majority of the focus is on MMFs. I quite understand this, as most people are scared of losing their hard-earned funds. I, on the other hand, am quite young and practically have nothing to lose

So, I'm kind of interested in equity mutual funds. Can any of the ogas here help out in this regard?

For instance, are closed funds the same as ETFs? Also, when the stock market dips, does this affect the Net Asset Value of equity funds?

Thanks a lot.

enemarieal:
Hi Olyrayy,

no one wants to loose his/her hard earned money young or old.

Equity funds are great if you get in at the right time, when price per unit is low or hold on long enough to see change in downward trend. Direction of trend is based on stock market forces (Fundamentals, technical, political and also speculation) . You can cash in returns from fund unit price appreciation as well as dividend payout which most asset managers distribute annually.

Equity funds are Risky, those who have equity funds can tell you how since mid feb 2018 that market has maintained continuous downward trend.

To your question about closed end funds vs ETFs, they are different.

Closed ended fund are funds with fixed quantity issued through and initial rights offer and afterwards traded on an exchange where subsequent buying and selling take place close ended funds appears not to be too popular amongst Nigerian fund managers. it can made up of any stock from any sector in that exchange.

ETF (Exchange Traded fund) are index tracking securities which may be made up of sectors based stocks (Pension, Goods, Oil and Gas, etc). (An index is a weighted computations of movement of set of/ all stocks in an exchange)
For example in the NSE we have NSE40 index which tracks listed pension companies, so if you invest in NSE 40 ETF your fund will in actual sense purchase various units of shares in companies that are listed in that index (in this example Pension), the Nav of your fund will fall/dip as the index trends.


when the stock market dips, does this affect the Net Asset Value of equity funds?
By stock market dips, i want to assume you are referring to dip in the all share index (ASI), the answer is it depends on what stocks your asset manager has in that funds portfolio

the NSE ASI is a weighted computation of all stock quoted in the NSE, it a general view of the performance of all quoted companies, however like you would have seen some companies gains and some loose while the ASI is in a downward trend. So if it so happens that some/all stock in your fund portfolio appreciates substantially when the ASI is in a nose dive, then you Nav will move in the opposite direction.

Ps i am not one of the ogas - hope this explains it a little.

dotcomnamename:



MMF is MF. They're all called Mutual Funds.

olyrayy:

Wow. Thanks a lot sir. IF I get what you're saying, if the stocks in my fund manager's portfolio take a dive, that means that net asset value would also reduce. I'm asking this because I plan on going long term, and I want to buy more with the same amount when there is a bear. In essence... buy low and sell high or keep.

I actually have investments in the NSE, but I feel there is kind of a steep learning curve to really become good at it. I figure it would be best if I just outsource it to a pro. I also want to compare the returns of my personal stock picking and that of my mutual funds, to see who is better at it.