NL1960:


Is this Naira equivalent or raw dollars?.

You need to source for your dollars yourself. So it is ''raw'' dollars.

NL1960:


Is this Naira equivalent or raw dollars?.

Who go collect dollar equivalent from your. Na you go come with your dollar ooo. So if you do not have it at home or in your dorm account, na aboki go supply you.

ojesymsym:
All our fixed options are reducing. Is there a USD mutual fund package for someone to be doing like $100 savings a month. Stanbic has but I think you have to do at $1k per transaction.
@emasoft, can you throw more light on your VANTAGE DOLLAR FUND?

VDF - Vantage Dollar Fund

Summary:

Minimum of US$500 at a minimum holding period of 180days

Dividend is paid out in Dollars to unitholders annually.

Redemption is within 5 working days upon receipt of all relevant documents

Fund Composition

Eurobonds 97%
Money Market 1%
Cash  2%



The Vantage Dollar Fund (“VDF”) is a SEC registered, open-ended unit trust scheme which seek to provide investors with appetite for Dollar denominated securities access to such, which ordinarily would be inaccessible to them by virtue of the minimum amount required to make such investment, it will invest primarily in corporate and sovereign Eurobonds.

The primary objective of the Fund is long-term capital appreciation, and interest income which is achieved by investing 0% – 100% of the Fund’s assets in Eurobonds while retaining a maximum of 0% – 7.5% of its total assets in money market instruments. When you subscribe to the Fund, you are issued with such number of units at the prevailing offer price as is equivalent to the monetary amount of your subscription. The Fund is re-valued at the end of each working day to reflect any changes in the prices of the underlying assets. This means that the value of your units will change from day to day. The aim of the Fund is to achieve capital appreciation over the long term and such appreciation can be monitored on a daily basis.



There is no minimum amount which cannot be withdrawn from the Fund. A partial or total redemption can be executed on the fund without any charges once you have fulfilled the minimum holding period condition of 180days.

seyisanya:
Stanbic has a minimum of $20,000 entry deposit and the same amount per top-up! United Capital has a minimum entry amount of $1,000 then subsequent top-up in multiples of $500. I think UCAP(investnow) has the best YTD rate(7.5%) in the dollar-denominated mutual fund market at the moment. FBNQuest minimum initial investment is $2,500 and subsequent top-up of $500.

VDF is not so clear to me. Oga Emmasoft to the rescue. I think you need an initial deposit of $25,000 but not sure of the subsequent top-up amount required.

I pray I don't get banned for this response

you're doing a good job.

omotola90:
saw the mail this morning... Way too low I must say

VGIF – Vantage Guaranteed Income Fund
@all investors and prospects of VGIF
By now if you are an investor in VGIF you would have gotten a mail informing you of the new rate.
Please recall in all my earlier post on the fund that I always mentioned that the guaranteed rate is benchmarked with SDF and it only changes when the CBN changes the SDF that is the reason for the mail you got.

However, you noticed that SDF was changed in September which was unusual for CBN to do and at the November meeting it was unchanged, but the rule of the fund (VGIF) have to be followed strictly ie new rate whether upward or downward can only be effected in July or January of every year.

The new guaranteed rate is 4.5% going forward. Even at this new rate, VGIF rate is still a rate to beat in the fixed income category all through the industry.

Another reason to stay put is that the extra above 4.5% will still be given to investors at the end of the investment period, we may be looking at a total earning of approximately 8-9% or more.

By now all investors that were in the fund earlier or by 30th June 2020 would have received their extra interest for the period January to June.
value dated 22nd December 2020. The extra for July to December 2020 will be paid next year after tomorrow’s guaranteed interest payment.

In conclusion, note that the MPC meeting will hold in January and March 2021 and SDF may be reviewed upward going by the economic realities, the nation may exit recession in the first quarter or early second quarter so all things being equal the future is bright.

Please don’t be discouraged. Remember the safety of your fund is more important than anything else and that is also guaranteed with VGIF. Hence I advice you don’t quit fixed income category of mutual fund like VGIF you will not regret the decision.

I Wish you all a 2021 filled with greater yields on all your investments!

Interest rates continue going south while devaluation continues surreptitiously.

considering cutting my loss by shifting to dollar. one thing is sure in few years time the official exchange rate will be around 500. Loss today, profit tomorrow


https://nairametrics.com/2020/12/31/another-devaluation-naira-trades-at-n410-1-at-the-official-ie-window/

seyisanya:
Yes, they're 100% reliable. Their MMF rate, as stated on my portal today, is 1.99%. Kindly note that my MMF account is with FBNQuest. I just stated what is currently displayed on my investnow portal dashboard.

thanks for the swift response Chief, i really appreciate

Whatever your financial projections are for 2021, Ziing has got you covered!
Start small now and grow your wealth over time.

For more info reach me through my signature.
Happy New Year.

Akerewe:
my Oga pls I need u to shed more light on this as Stanbic MMF interest is now as low as 0.3%pa. Pls how much is united capital MMF interest rate currently nd are they100% reliable?

Why don’t you just do Fixed income funds? Their returns are higher as they invest in bonds that have higher yields than Tbills and CPs that MMFs invest in.

Lazyyouth4u:


Why don’t you just do Fixed income funds? Their returns are higher as they invest in bonds that have higher yields than Tbills and CPs that MMFs invest in.

am interested in this if truly their returns are higher than MMF but is it with minimum/no risk on invested capital? then which bank fixed income is the best as at the present moment? God bless you immensely for this insight.

Akerewe:
am interested in this if truly their returns are higher than MMF but is it with minimum/no risk on invested capital? then which bank fixed income is the best as at the present moment? God bless you immensely for this insight.

All those investment houses that have MMFs also have Fixed Income funds and I’m am positive that the returns are higher. Their distributions (interests) are typically paid Quarterly or Semi Annually sha.

Lazyyouth4u:


All those investment houses that have MMFs also have Fixed Income funds and I’m am positive that the returns are higher. Their distributions (interests) are typically paid Quarterly or Semi Annually sha.

thanks a lot for your swift response. pls what are the risk on fixed income like?

Akerewe:
thanks a lot for your swift response. pls what are the risk on fixed income like?

They typically invest in FGN bonds. So it is mainly the risk that the FGN defaults on these bonds. This in my opinion is highly unlikely.

Note that if yields on bonds continue to fall, their (FI mutual funds) returns will also drop. But currently, bond yields are higher than yields on money market instruments that MMFs invest in. So, right now FI funds returns > MMF returns.

Lazyyouth4u:


They typically invest in FGN bonds. So it is mainly the risk that the FGN defaults on these bonds. This in my opinion is highly unlikely.

Note that if yields on bonds continue to fall, their (FI mutual funds) returns will also drop. But currently, bond yields are higher than yields on money market instruments that MMFs invest in. So, right now FI funds returns > MMF returns.

If I hear anyone call you Lazyyouth4u again on Nairaland in a derogatory manner , I will call FBI, Israeli mossad, KGB, Interpol, Scotland Yard police for the person, you are an active youth with so much on your computer brain

This is Me saying a BIG Thank you to all that have made this year Wonderful for me in this Thread ........ I learn a whole lot of things amid the argument , funny moment, tantrums and the Likes.

Thanks to you all .....Looking forward to learn more from you come next Year

God Bless you all

Where is Madam Sholapey ? i Hope you are still with us ?

The guy only behaves well as long as Ahib non de around. Once Ahib show, e BP go rise. Anyway, I don put am for my special prayers that 2021, he go de well behaved with or without Ahib

AngelicBeing:
If I hear anyone call you Lazyyouth4u again on Nairaland in a derogatory manner , I will call FBI, Israeli mossad, KGB, Interpol, Scotland Yard police for the person, you are an active youth with so much on your computer brain

9jatriot:
The guy only behaves well as long as Ahib non de around. Once Ahib show, e BP go rise. Anyway, I don put am for my special prayers that 2021, he go de well behaved with or without Ahib

The guy literally sent ahib on relegation.

lol... however, I won't put it that way. I think it is for the good for Ahib and for the thread to stay off confrontations with laxxY... Each of such confrontations reduces his value in the eyes of his admirers.

Na now LaxxyY de build his fan base.

TransAtlanticEx:

The guy literally sent ahib on relegation.

9jatriot:
lol... however, I won't put it that way. I think it is for the good for Ahib and for the thread to stay off confrontations with laxxY... Each of such confrontations reduces his value in the eyes of his admirers.

Na now LaxxyY de build his fan base.

Classic technique and ahib fell for it.
Nothing beats the power of ignore,eventhough I don't ignore trash myself,haha.

Yes he fell for it, but laxxY was a direct thorn on his flesh, perhaps that was why he couldn't resist.
Funny enough, even you de ignore at some stage. Anyway, 2021, I hope people go pretend to good small, perhaps up to the 3rd week before they return to their old ways

TransAtlanticEx:
Classic technique and ahib fell for it.
Nothing beats the power of ignore,eventhough I don't ignore trash myself,haha.

9jatriot:
The guy only behaves well as long as Ahib non de around. Once Ahib show, e BP go rise. Anyway, I don put am for my special prayers that 2021, he go de well behaved with or without Ahib

You are hopeless. Put your own hopeless life in prayers for 2021. Trust me you need it more.

9jatriot:
Yes he fell for it, but laxxY was a direct thorn on his flesh, perhaps that was why he could resist.
Funny enough, even you de ignore at some stage. Anyway, 2021, I hope people go pretend to good small, perhaps up to the 3rd week before they return to their old ways

lol I doubt it.
Let's see how it goes.

I am hopeful even though I still see signs not to hope, but I keep hope alive. 2021 is nearby.

TransAtlanticEx:
lol I doubt it.
Let's see how it goes.

Happy New Year too
I wish you a prosperous and a productive new year too.

By the grace of God, you would have left all remnants of negatively behind in 2020 to be replaced with an overdose of positively in this new year of 2021.

Lazyyouth4u:


You are hopeless. Put your own hopeless life in prayers for 2021. Trust me you need it more.

Happy New year every one
More blessings
And favours, and more oils to your engines
AMEN!

The broad spectrum of conversations, discourse and contributions of 2020 were largely intellectually stimulating and refreshing

God bless you all as you proceed into 2021

Many happy cheers to a new year of opportunities, possibilities, and more success.

emmasoft:




VGIF – Vantage Guaranteed Income Fund
@all investors and prospects of VGIF
By now if you are an investor in VGIF you would have gotten a mail informing you of the new rate.
Please recall in all my earlier post on the fund that I always mentioned that the guaranteed rate is benchmarked with SDF and it only changes when the CBN changes the SDF that is the reason for the mail you got.

However, you noticed that SDF was changed in September which was unusual for CBN to do and at the November meeting it was unchanged, but the rule of the fund (VGIF) have to be followed strictly ie new rate whether upward or downward can only be effected in July or January of every year.

The new guaranteed rate is 4.5% going forward. Even at this new rate, VGIF rate is still a rate to beat in the fixed income category all through the industry.

Another reason to stay put is that the extra above 4.5% will still be given to investors at the end of the investment period, we may be looking at a total earning of approximately 8-9% or more.

By now all investors that were in the fund earlier or by 30th June 2020 would have received their extra interest for the period January to June.
value dated 22nd December 2020. The extra for July to December 2020 will be paid next year after tomorrow’s guaranteed interest payment.

In conclusion, note that the MPC meeting will hold in January and March 2021 and SDF may be reviewed upward going by the economic realities, the nation may exist recession in that first quarter or early second quarter so all things being equal the future is bright.

Please don’t be discouraged. Remember the safety of your fund is more important than anything else and that is also guaranteed with VGIF. Hence I advice you don’t quit fixed income category of mutual fund like VGIF you will not regret the decision.

I Wish you all a 2021 filled with greater yields on all your investments!

Thank you for this. Let me not be greedy

DexterousOne:
Happy New year every one
More blessings
And favours, and more oils to your engines
AMEN!

The broad spectrum of conversations, discourse and contributions of 2020 were largely intellectually stimulating and refreshing

God bless you all as you proceed into 2021

Same to you boss! Toast to greater returns and dividends.

emmasoft:




VGIF – Vantage Guaranteed Income Fund
@all investors and prospects of VGIF
By now if you are an investor in VGIF you would have gotten a mail informing you of the new rate.
Please recall in all my earlier post on the fund that I always mentioned that the guaranteed rate is benchmarked with SDF and it only changes when the CBN changes the SDF that is the reason for the mail you got.

However, you noticed that SDF was changed in September which was unusual for CBN to do and at the November meeting it was unchanged, but the rule of the fund (VGIF) have to be followed strictly ie new rate whether upward or downward can only be effected in July or January of every year.

The new guaranteed rate is 4.5% going forward. Even at this new rate, VGIF rate is still a rate to beat in the fixed income category all through the industry.

Another reason to stay put is that the extra above 4.5% will still be given to investors at the end of the investment period, we may be looking at a total earning of approximately 8-9% or more.

By now all investors that were in the fund earlier or by 30th June 2020 would have received their extra interest for the period January to June.
value dated 22nd December 2020. The extra for July to December 2020 will be paid next year after tomorrow’s guaranteed interest payment.

In conclusion, note that the MPC meeting will hold in January and March 2021 and SDF may be reviewed upward going by the economic realities, the nation may exist recession in that first quarter or early second quarter so all things being equal the future is bright.

Please don’t be discouraged. Remember the safety of your fund is more important than anything else and that is also guaranteed with VGIF. Hence I advice you don’t quit fixed income category of mutual fund like VGIF you will not regret the decision.

I Wish you all a 2021 filled with greater yields on all your investments!

Thought you said that I'd be paid my VGIF interest on the 1st of January? What's happening?

Grupo:


Thought you said that I'd be paid my VGIF interest on the 1st of January? What's happening?

Yes, If you opt for payment of interest the money hits your bank account within the week or reinvested with the value date as 1st of January.