₦airaland Forum

amaham:
I requested for online redemption of part of my mutual fund investment since monday, today is wednesday and my fund has been debitted but i am yet to receive my alert. Abeg the 72hrs never reach?

If it is stanbic, they are just a useless bunch atm. i Requested since Friday 9am and I am yet to get mine. They claim they upgraded their payment system on Friday hence the delay.

Buffalowings3:

What do I have to gain by lying?
After all its my money?
I bought 60k now it is 57kr

I won't exchange words with you cos I'm sure youre a marketer

Kindly check what fund you invested in , Money market never depreciates your capital irrespective of whether it is ARM, Stanbic or AXA

alezzy13:
Abeg for a newbie like me, when you say 'net of charges' does that mean only the interest is charged?

What that means is the rate that shows on the site is not the actual rate but the rate after the 1.25% management fee has been charged

4601CE:
Yes it does compound frequently but not daily or almost daily sir.

Mine is almost daily sha....

brainhack:
Bro, you still didn’t say how you came about this info. Please do you have a mail from Axa-mansard supporting this claim or have you been investing in their MMF for over a year?

I just got off the phone with a friend that works with Axa-mansard. He stated that yes the rates published are net of charges but at some point later the Annual Management Fee (1.25%) would be deducted from your account.

He has promised to get back with an official response when work resumes because he is presently unsure whether it is deducted at a particular time of the year or when an event is triggered (eg payout).

I would be sure to relay this if he gets back to me with more info. As I stated before I won’t invest under an assumption and wouldn’t advise anybody to do so until the assumption become a fact (bring your strong evidence).

Lol are you sure your friend actually works for them ?
Because I've had an AXAMansard account since last year April(17 months) and no separate deduction has been made

brainhack:
When someone or a group of people are being evasive about an aspect of the thing under consideration, it is a “gaint-big” red flag for me. I even tried reaching out to Axa-mansard people regarding their MMF’s “management fee” and still did not get any answer.

If the 1.25% is chargeable on the whole account (Principal + Interest) thats a big WAWU. It makes their rates significantly less attractive compared to that of their competitors; so goodluck to them.

Anyway I have decided pitch my tent with FBN. I should be able to complete all the necessary this coming week.

We have answered this question a lot of times , rates are net of charges.

Toun2nl:
@AbbyE and other Stanbic app users: are you saying no transfer charges when you us their app?

yes

haibe:
Very helpful.

One more thing.

Which is the actual interest. Is it the difference between what I invested, and the actual amount I see on the app - or the interest written with a small font below that amount

The interest is the difference between what was invested and what you have now. It may not always be equal to what you can see on the app as interest because a part of it may have been reinvested as principal

haibe:
Thanks. Did you get this message on redemption? Any reason why the account number is showing N/A

It usually shows N/A but not worry, all is well..

haibe:
why

Lol read my response again, I posted it without completing it

haibe:
Please I am trying to redeem funds through the app and I am being asked my security answer without the app displaying the question. Is there any way I can see my security question? Thanks

You won't be able to retrieve on the app (at least not that I know of) but log in to the mobile site and try to redeem. Under where it asks for your security answer, you'd see where you can retrieve your security question

RAY12345:
Hello boss, do you know if there's a transfer charge to this payment method? Like quickteller, there's an extra 100 naira charge.

It's a normal transfer and normal transfer charges apply. If you don't want to get charged at all then you can pay via the app

irookie:
Thanks bro!

This solves it. Fast, simple and accurate.

Giving them 5 days to be added.

You are welcome

I am a lady though

irookie:
Is it necessary to fill another application form to buy more funds with SIBTC

I already have MMF subscription and wanted to susbcribe to BOND Funds. Walked into their bank and the account officer asked me to fill another set of forms. Sent a mail to their customer care and they also sent me same form.

Since I have a savings and existing MMF account with SIBTC, why should I fill the form again? I think I should just made a transfer to the required new Funds account number.

Has anyone have this experience with SIBTC and is it the norms with them

Log in to the site and not the app
Click on redeem, you'd see the option to switch to new mutual fund , select that

Ensure you have your security answer ready

Then you'd proceed to this page and you'd have the option of selecting the mutual fund you want to buy. As I have already switched funds to Bond fund and Balanced fund, those options are not there but for you , it'll be

irookie:
Is it necessary to fill another application form to buy more funds with SIBTC

I already have MMF subscription and wanted to susbcribe to BOND Funds. Walked into their bank and the account officer asked me to fill another set of forms. Sent a mail to their customer care and they also sent me same form.

Since I have a savings and existing MMF account with SIBTC, why should I fill the form again? I think I should just made a transfer to the required new Funds account number.

Has anyone have this experience with SIBTC and is it the norms with them

I added a bond account through redemption , there's an option in redemption where you select *switch to new funds* . I didn't have to fill a new form. Although it took almost 5 days for the money to reflect in my bond fund

The way balanced and bond funds are dropping eh

emekad2:
Please can someone help me. If I invest 750,000 in stanbic Mmf today, with the prevailing yields that are current, how much dividend will I get in one month's time? I need help please

So I'm not going to put in the extra effort to check what Stanbic's rate is but assuming the rate is 10%, you'd be getting 750,000*0.1/12 = N6250.

Annybens1993:
Hello,

I have completed the registration and have even transferred money to the account...was charged about N500 for depositing

The problem now is the money have not reflected in my account. What should i do

Axa mansard?

Did you do a transfer or you paid online?

What time today did you do the payment?

Annybens1993:
Hello house,

1. Axa mansard or Stanbic mmf Which of the two is the most efficient?? And why?
Efficiency : AXAMansard
Redemption and subscriptions are processed faster than with Stanbic

2. What are the names of their apps on Play store?

Stanbic's app :- Stanbic IBTC
Axa :- Axa Mansard

3. Can I complete my registration and invest without physically going to the bank??

I was able to do that for both but that's because I got in touch with people who sent me the forms and I scanned back to them


You can invest with the app, website , account transfer or 737( for AXAMansard). The short code to invest in Axa MMF is *737*50*AMOUNT *292#

I will appreciate quick responses as I wish to invest today.


Many thanks.

see my answers in bold

achmed1:
That's a big fat lie.

90% of people who enrol newly for accounting professionals at the big 4 chose acca .

Although the firms only pay the ican equivalent of the exams.... It's just for convenience and the cost.

The only people in big4 doing ican have already started b4 joining

no the only people in big 4 doing ican are not only people that started before joining. There are people that started ICAN in the firm

+ do you know because you can't sign FS without ICAN you cannot become a manager without it?

Azmodan:
That is in Nigeria !

Is Nigeria a normal country ?

Everyone knows I CAN is now obeolete and out date..

It is just to please chief akintola williams and the sophisticated pigs of the west that iCAN is even still considered useful

Well so practising accountants still need ICAN in Nigeria

Azmodan:
That's is false no company in Nigeria or any where in the world compares ICAN to ACCA , it's even stated in all such job ads. ICAN a must but ACCA preferred.

Comparing ican to acca is like comparing a black and white cathode tv to a uhd 4k her 2.0 tv

There just simply no comparison, ican is useless when compared to acca

Well they actually do. In Nigeria, you can't sign financial statements without ICAN.

amaham:
Pls my interest in stanbic mmf has been eroded into ooo, the interest i already accrued was 14k, i just checked now and saw 12k. I need explanations from gurus here oo

Check subscription history , they have probably reinvested it as part of principal . You should see something like this

rilwan09:
for how many months and how much

.

crispgg:
abeg are my eyes seeing double or not?

AxA Mansard MMF rate is negative

https://fman.com.ng/mutual-fund-price-list/

They always mix it up... it's the EIF that's negative

misterEli:
What was the time interval for 2015 and 2017?

2017
Final interview was May 14 I think

Success mail for Advisory guys - June 1
Success mail for Assurance & Tax - July 24

You guys ,

Please what's the USSD code for AXAMansard Equity fund subscription .

I know MMF code is *737*50*Amount*292#

eezeribe:
Of course YES , stanbic does quarterly compounding of 100 % of your interests.
Further more, stanbic recently introduced daily compounding up to 7% of interests accrued from selected investment tools in the money market fund.

Stanbic no longer does quarterly compounding of interest

goodguy4sure:
I asked becos I learnt for successful applicants after one year of trainee will get Associate Level 1 while Apprenticeship will get Associate level 2. And the remuneration during the 1 year period for Apprenticeship will be higher than Trainee.

just needed someone with direct inform.

Best Regards

Okay....for the graduate trainees, they are employed as associate 1 , they don't have to wait a year to be A1's

goodguy4sure:
Pls for sake of clarity, Can someone explain to me the different between PWC Graduate trainee and apprenticeship?..

Thanks In Anticipation.

A graduate trainee and an apprentice would probably be doing the same thing. Remuneration may be different though. An apprentice would be offered Associate 2 position after a year if he/she performs well , A trainee would also be moved to A2 after a year. Basically at the end of the day ,it would even out.