Please I want to learn about the money market. I know there is a ton on information on Google but I also need information and testimonies, cons and pros from anyone here who has actually tried to learn and use it. Please.

Money Market Fund (MMF) is just the abridged version of investing in Government treasury bills (TB) except that with MMF, the banks or the financial institution invests on your behalf and pay you interest on the money invested daily, monthly or quarterly with the option of re-investing.

Now, unlike TB, you can opt out at anytime without loss of invested fund don't get it twisted though ....with TB you get paid interest on the principal upfront with your principal remaining intact till the end of the bills' tenure. If you want your principal before the end of the tenure date, then you will have to sell it at a discount rate meaning you lose a percentage of it.

Some MMF operators may require that you don't opt out for 30-90 days after investing but if you want to, then you will be fined a penalty for doing so.

Again, unlike TB, the yield rates fluctuates with the market meaning you can start with 13% today and tomorrow it drops to 12% while with TB, if they say 13% for 90 or 182 days ....so shall it remain untill the next batch of bills are to be sold at a different rate.

I would advice you read up more on the best MMF operator to select from, I know quite a few I've used though - ARM and StanbicIBTC both have low entry levels at N5K. Others may insist on from N50K upwards. There are other good and better ones out there you just have to dig them up.

All the best

alexvic12:
Please I want to learn about the money market. I know there is a ton on information on Google but I also need information and testimonies, cons and pros from anyone here who has actually tried to learn and use it. Please.

alexvic12:
Please I want to learn about the money market. I know there is a ton on information on Google but I also need information and testimonies, cons and pros from anyone here who has actually tried to learn and use it. Please.

In addition to what bigtt76 has posted, you can also visit the Mutual funds thread to get testimonies, pros, cons, tips, and what have you.

https://www.nairaland.com/1912965/mutual-funds

interesting

bigtt76:
Money Market Fund (MMF) is just the abridged version of investing in Government treasury bills (TB) except that with MMF, the banks or the financial institution invests on your behalf and pay you interest on the money invested daily, monthly or quarterly with the option of re-investing.

Now, unlike TB, you can opt out at anytime without loss of invested fund don't get it twisted though ....with TB you get paid interest on the principal upfront with your principal remaining intact till the end of the bills' tenure. If you want your principal before the end of the tenure date, then you will have to sell it at a discount rate meaning you lose a percentage of it.

Some MMF operators may require that you don't opt out for 30-90 days after investing but if you want to, then you will be fined a penalty for doing so.

Again, unlike TB, the yield rates fluctuates with the market meaning you can start with 13% today and tomorrow it drops to 12% while with TB, if they say 13% for 90 or 182 days ....so shall it remain untill the next batch of bills are to be sold at a different rate.

I would advice you read up more on the best MMF operator to select from, I know quite a few I've used though - ARM and StanbicIBTC both have low entry levels at N5K. Others may insist on from N50K upwards. There are other good and better ones out there you just have to dig them up.

All the best

Thanks ma

The money market is about the most important market in the country's financial economy...

Prestdude:
The money market is about the most important market in the country's financial economy...
https://www.nigeriabusinessplan.com.ng/money-market-financial-market/

Thanks, I'll read up.

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