₦airaland Forum

Gurus in the house.... Is the 1.5% management fee on money market fund on the capital or interest accrued?

Which other mutual fund investment management like United Capital can credit one immediately after initiating a withdrawal including weekends?
Sometimes united capital does one technical fixing or the other, and one may need emergency fund at any time. I want to spread my funds.

haybhi1:
Ok. You don't seem to understand these things. How many options are out there? You have an idea how expensive things are? Who give you money for upkeep? I'm a certified software engineer, but how many opportunities are out there? Who gives us work in Nigeria?
You're left exploring everything that resembles opportunities coming your way until you lose all you got.

I'm disappointed. With your level of expertise, you can't tell a simple fake platform (website) that is designed to scam people

Emmiasky:
Anyone got the Redmi Note 9s for sale?

Yes! Where is your location?

Pojomojo:
The interestbis extremely poor for a 15m investment.This calculation assumes compound interest, where the interest earned in each month is added to the principal, and the next month's interest is calculated based on the new principal balance.

Here's a breakdown of the calculation:

1. *Initial Principal*: ₦15,000,000
2. *Monthly Interest Rate*: 22.30%/year / 12 months/year ≈ 1.8592%/month
3. *Monthly Interest*: Principal x Monthly Interest Rate

For each month, the interest is calculated and added to the principal:

Month 1-3:
₦15,000,000 x 1.8592% ≈ ₦278,750
Principal becomes: ₦15,000,000 + ₦278,750 x 3 ≈ ₦15,836,250

Month 4-6:
₦15,836,250 x 1.8592% ≈ ₦294,290
Principal becomes: ₦15,836,250 + ₦294,290 x 3 ≈ ₦16,719,120

Month 7-9:
₦16,719,120 x 1.8592% ≈ ₦310,696
Principal becomes: ₦16,719,120 + ₦310,696 x 3 ≈ ₦17,651,210

Month 10-12:
₦17,651,210 x 1.8592% ≈ ₦328,018
Principal becomes: ₦17,651,210 + ₦328,018 x 3 ≈ ₦18,635,264

The final principal balance after 1 year is approximately ₦18,635,264.

This calculation demonstrates the power of compound interest, where the interest earned in each period is reinvested to generate even more interest in the next period.

There's no difference between his calculation and yours

iamrichiefola:
The return should be about 560+ for 180 days and 880+ for 270 days

what about 10% tax and 0.5 service charge

DAramis:
Drop the cbn mail for knowledge purpose. Might come handy in the future over certain issues with bank.

contactcbn@cbn.gov.ng
cpd@cbn.gov.ng

Allboiz:
I put in for United Capital treasury bill at the primary market last auction. I was told it failed due to CBN rate. Up till now, they're yet to refund my money and next week is another auction. They disappointed me. I'll send another mail and copy CBN tomorrow if I don't get the fund today.

I had to copy CBN in my mail today and they started calling me. My money is back. Very wicked people using our money for their needs.

Odunharry:
Sorry for your experience. Did you give them a rate? Call their customercare or email or visit their office

No
They chose for me

I've been in touch with them but they keep posting me that they'd reverse it

I guess they've used the money

I put in for United Capital treasury bill at the primary market last auction. I was told it failed due to CBN rate. Up till now, they're yet to refund my money and next week is another auction. They disappointed me. I'll send another mail and copy CBN tomorrow if I don't get the fund today.

freeman67:
I don't know why they designed it that way. However, it's simple Just calculate it yourself and remove what's to be the upfront.

Personally I like it that way. It's a form of reinvestment of interest with the investment and it will make you get exact yield.

Thanks 🙏

freeman67:
It may be your network or your browser. It one hand with the OTP when I tried it.

While trying to go through Tbills on the app, I observed they won't pay you an upfront interest. Any info about this?

freeman67:
Yes. They sent the message to all their existing customers. All existing Asset Management customer can log in with their details without creating new account.

It just came on board so you may not find users immediately. For now (as at last night) it's only 3 TB's offers that's displayed there. Then you also access your existing Mutual Funds and subscribe new ones from there.

Can't validate OTP to login here. It keeps showing errors.
.
.
.

Now working. I had to switch to desktop view.

Odunharry:
Go before tuesday to submit your bid. You can also reach out to me.

09070058289

Thank you

Odunharry:
Next week wednesday

Since it's Wednesday, which day is it advisable to go to the bank?

KingCassy:
Hello bro… pls these apps do they have offices or are they affiliated with banks? Because is feels so odd inviting some certain amount in apps you don’t even know their financial backing..

United Capital is an investment bank. It was extracted from UBA sue to CBN policy a while ago. So they are reliable, including Stanbic asset management, Fbn, etc

Batman2412:
Its low risk and you need minimum of N50m to open. Help me check if your ucap app is opening now. Mine refused to open since last night

The rate has even dropped today. It's now 27.89%.
For the ucap app, it's opening here. I'd suggest you should update the app on your app store.

temi4fash:
Please which app is this?

Investnow

freeman67:
Check the "underlying assets" of the fund. Meaning check what the money is being invested in. I have never notice it or looked for it before so I can say.

I saw this
Then it's also stated that asset risk is low

Please what's your thoughts on this Unitedcapitals stable income fund at 30.89%? Hope the risk is low.

missjekyll:
And when you want to move the money back to dollars?

Probably better to invest in index funds. It's up 50% .

You can exchange naira for dollar anyday anytime

Experts in the house
Please is it a good time to convert USD (eurobond at 5.29%) to naira and invest in treasury bill (22%)?

Babtunz:
Hello all,

Please I need your inputs on this. Say you have #10m to invest, how would you go about it? Would you rather:

1. Invest all in Risevest real estate plan for a 11-12% annual return. Using the exchange rate of 1650, that's about $6060. 12% of that is $727 which is about #1.2 return in a year.

2. Invest all in Stanbic MMF for a 20-21% annual return, which is about #2m.

3. Putting inflation into consideration, I'd go for number 1 but leaving out a potential 800k in option 2 doesn't sound very wise to me.

If you have any other way you'd go about this please kindly share 🙏🏾

The first thing you should consider is the safety of your capital and neither devaluation of naira nor interest rate. How reliable is Risevest

Kindly recommend a good dollar fund. Unitedcapitals has refused to increase their dollar fund rate. It's been 5.29% for more than a year now.

Chrisfaco:
I have about 15m I made from savings and my business. Should I start build a residential house for myself and family or invest it in TBills yearly and use my interest for rent and other basic expenses. Pls I need suggestions. (PS: I have got a land for the building already)

Put the money in Tbills.
Use the annual interest from Tbills to pay your rent and start the building of the residential house till you finish it.
Keep doing your business and continue to grow the capital you put in Tbills annually.

wuwu2:
Could you explain further?
I don't have a dom account.
Just walk in and pay on the counter?

You need to create a Domiciliary account (USD) and make the transfer. Cash deposit must be at least a month to be able to transfer. Transferred deposit can transfer anytime. Remember the minimum is 10k

wuwu2:
Just having difficulty getting them to provide a dollar account for this.
Has anyone had any success?

Update!!!

All you need to do is walk-in to their office and do the needful

wuwu2:
Just having difficulty getting them to provide a dollar account for this.
Has anyone had any success?

Same here
I guess they'll do it via their dollar fund investment plan. In fact, UBA sent a message about the FGN dollar bond but there were no specific details on how to invest.

ernie4life:
If the fund invest in this bond, there is a chance that the return will improve though I don't think it will get to this coupon rate.

I thought as much. Thanks. I'll contact UC as well

I have some change in unitedcapital eurobond at 5.34%. Is there any chance of the rate increasing with this new FGB bond? Or should I just pull my funds and put in FGN?

Enskynelson:
Yea, the old portal had transcript request form. I don't know about the current portal. The only person I processed admission for is an NOUN alumnus

Please when is 1st semester for new masters intake starting?

Enskynelson:
Yea, the old portal had transcript request form. I don't know about the current portal. The only person I processed admission for is an NOUN alumnus

Thanks! I've actually checked, it's not on the new site