akelicious:
https://www.google.com/url?q=https://leadership.ng/2020/06/15/nigerian-mutual-funds-hit-n1-26trn-in-5-months/&sa=U&ved=2ahUKEwjP5eyNhoPqAhUNnxQKHUvuA_AQFjACegQIBxAB&usg=AOvVaw1TzVOaRxwmPWSuM6IGWSMt

KomonSense:


1) What's the lowest amount someone can invest in mutual fund ?

100K, 200K or more .....?

2) please mention or tell us Mutual fund managers you know...

3) Do banks offer mutual fund services too

Venerable612:


Hi all,

There is no shame in not understanding. Let me help you guys understand.

Think of mutual funds as the three of you bringing your money together - and giving it to someone like Charles Soludo (Because the assumption is that Charles Soludo knows how to invest very well and Can make you guys a lot of money).

Charles Soludo, in this scenario, will be called the Fund Manager.

The funds that the three of you have contributed is called the Mutual Fund and Charles Soludo must make sure That he invests (In different Portfolios) according to the terms as agreed by all of you (investors) and this will depend on whether you want to invest in Shares, Government Bonds, Foreign dollar investment funds etc.

This is usually how rich people like Dangote, Otedola invest their money outside of doing business. But the average poor man in the street lacks all these financial information.

Now you know - the next tome you make your next 1 million - you may think about keeping your money with Mutual Funds and getting a return at the end of the year!

KomonSense:



Outrageous... I was even thinking of investing about a million naira. I saw 5% somewhere on nairametrics website yesterday...

But my bank was encouraging me to come and buy last week Wednesday. Maybe they're not sure

TB seems to be the safest place to invest money in this unstable covid 19-infested economy

Venerable612:


Hi all,

There is no shame in not understanding. Let me help you guys understand.

Think of mutual funds as the three of you bringing your money together - and giving it to someone like Charles Soludo (Because the assumption is that Charles Soludo knows how to invest very well and Can make you guys a lot of money).

Charles Soludo, in this scenario, will be called the Fund Manager.

The funds that the three of you have contributed is called the Mutual Fund and Charles Soludo must make sure That he invests (In different Portfolios) according to the terms as agreed by all of you (investors) and this will depend on whether you want to invest in Shares, Government Bonds, Foreign dollar investment funds etc.

This is usually how rich people like Dangote, Otedola invest their money outside of doing business. But the average poor man in the street lacks all these financial information.

Now you know - the next tome you make your next 1 million - you may think about keeping your money with Mutual Funds and getting a return at the end of the year!

bizhop01:

That is the reason mutual fund became hotcake, You can have fixed deposit with Access bank, UBA, FCMB, they had attractive interest rates.

Multiplier7:



Please bro I need a confirmation, is Cowrywise and Afrinvest genuine brokers to invest your money on for mutual fund and treasury bills?

Venerable612:


Thank you for this information
I appreciate

Hi all,

There is no shame in not understanding. Let me help you guys understand.

Think of mutual funds as the three of you bringing your money together - and giving it to someone like Charles Soludo (Because the assumption is that Charles Soludo knows how to invest very well and Can make you guys a lot of money).

Charles Soludo, in this scenario, will be called the Fund Manager.

The funds that the three of you have contributed is called the Mutual Fund and Charles Soludo must make sure That he invests (In different Portfolios) according to the terms as agreed by all of you (investors) and this will depend on whether you want to invest in Shares, Government Bonds, Foreign dollar investment funds etc.

This is usually how rich people like Dangote, Otedola invest their money outside of doing business. But the average poor man in the street lacks all these financial information.

Now you know - the next tome you make your next 1 million - you may think about keeping your money with Mutual Funds and getting a return at the end of the year!

Uyi168:
Which one be mutual funds again??

akelicious:
https://www.google.com/url?q=https://leadership.ng/2020/06/15/nigerian-mutual-funds-hit-n1-26trn-in-5-months/&sa=U&ved=2ahUKEwjP5eyNhoPqAhUNnxQKHUvuA_AQFjACegQIBxAB&usg=AOvVaw1TzVOaRxwmPWSuM6IGWSMt

Multiplier7:


Are you sure about this, from my findings, they said fixed deposit have crashed and that you can gain more through savings (not touching your money) than in fixed deposit.

Now at what percent did they say is their interest rate?

Uyi168:
Which one be mutual funds again??

od501:


Don't mind that dude. FD is nothing to write home about currently, it even crashed before the virus, courtesy of government policy. No intangible investment is worth it anymore in Nigeria unless u go long terms.

Venerable612:


Hmmmm. That is tricky one.

I use Cowrywise, but I haven’t used their Mutual Funds product before.

In my experience, Cowrywise offered about 10% over my savings for 3 months - but it wasn’t so much about the interest for me - it was more about being able to lock my money so that I cant touch it, even if I really needed it. Principally, I would get my money back even if the interest was negligible. That was the catch for me.


So - in my opinion, you can use Cowrywise platform to invest on Afriinvest - if you can trust Cowrywise as a secure platform. I have not heard of any regret case from anyone - but I don’t know a lot of people who have used it either.

I guess it’s a risk you may have to take - but I will advise you start with an amount you can give away, not all your savings. But please consider the percentage on your return first. If they offer a great percentage - I think it’s worth a try.

daniddan1999:
What is the minimum amount required to start a mutual fund
And how do i go about it pls any help?

KomonSense:


1) What's the lowest amount someone can invest in mutual fund ?

100K, 200K or more .....?

2) please mention or tell us Mutual fund managers you know...

3) Do banks offer mutual fund services too

anizy:


5k is d minimum amount
Check with first Bank or stanbic ibtc

Multiplier7:



OK...thanks so much...I really appreciate. I think afrinvest is nice cos they are the people that opened my CSCS account

Multiplier7:


Am actually at the banks he mentioned to confirm his claims. You are right, FD is nothing to write home about for now.

I think people who are interested on investing their money like I do should go mutual fund and treasury bills

Venerable612:


Oh Great!

You are welcome sir.

od501:


I don't know the current rate of TB though but i know it is also effected. But as for MF... Chai.. That one is heart breaking, it failed from 11% as of Nov last year to 6% during the virus. As I talk to u, that shit is at a depressing rate of 5%. No intangible investment is worth it anymore in Nigeria unless u go for long term investments like bonds, insurance packages, etc. But you ask yourself who is ready to put away such huge sum of money for that long?

So despite the disaster that is happening in TB and MF investments, they are still the best for micro investors which made up 65-80% of Nigerian investors.

vivypretty:


1) What's the lowest amount someone can invest in mutual fund ?
100K, 200K or more .....?
2) please mention or tell us Mutual fund managers you know...
3) Do banks offer mutual fund services too.
me too, I Want to know

fordunit:


Why will anyone even invest their money in mutual funds? Mutual funds is better suited for those who have a large amount of money to invest. At 10%, some who invests 100m will get return of 10m annually. Which is not bad. But a Man who is investing 200,000 will get returns of a miserable 20,000 per annum.

If you don't know what to do with your money, message me let me give you a few tips.

LoydJ:

Waoh bro am speechless
Thanks a Bunch bro
Mey your days be Long bro

Although i never recieve the alert,but will quote you as soon as I receive the alert

It's the dawn of a new week,as u've decided to show me small love May God Grace nd Favoured never depart from your life,

Thanks once again,am indeed Grateful.

Multiplier7:


You can invest as low as 100k upwards in Treasury Bills through your broker and I hope you have a CSCS account.

Meanwhile, which bank is that that told you that?

KomonSense:


Sterling bank