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Investment › Re: Mutual Funds by Bluearrow: 12:33pm On Mar 18

Dramadiddy:
Does anyone know if you can withdraw from GT money market funds within 30 days? And what’s the fee? And is it charged on the interest alone?

Holding period is 30 days
Management fee is 1% of net asset value

1 Like

Investment › Re: Equity Investment. by Bluearrow: 2:44pm On Mar 17

truthbetold22:
Noticed that you can only redeem 200k units max at a time. I am not sure if it can be done multiple times in one day or if there are limitations.
Other users should please advise..

200k units is quite poor, even if it is done multiple times. That is around 300k.

Investment › Re: Mutual Funds by Bluearrow: 8:17am On Mar 17

Saybal:
pls can you post the web address

https://www.stanbicibtcfundsmanagement.com/

Investment › Re: Mutual Funds by Bluearrow: 8:07am On Mar 17

EquityM:
Liquidity is important; however, the main goal of an investment is for capital preservation or capital growth regardless of which fund you decide to go with. 24-hour liquidation is not inadmissible; nevertheless, most fund managers, like FirstAlly and TrustBanc, do it for marketing strategy, as the majority of Nigerians do not even know what MMF is. Lastly, 48-72 hrs is acceptable; anything more than that is questionable.

I don't agree with the bold, they just have better services & management, not really because of marketing. When u put money in your bank account do u think it sits there? The banks invest with it. Every fund manager should have capital base that meets regulatory compliance, any fund manager that can't manage liquidity shouldn't be operating.

To your second point, any withdrawal above 48 hours for mmf is poor service & questions such fund manager liquidity capability. In binance I have flexible & fixed assets, these funds are invested. Once I withdraw flexible, it is instant, when I liquidated my 3 months fixed investment last year in anticipation for the bull run, it was process within 48 hours, for fixed asset. There is still room for improvement & I believe with time we will get there. The likes of zedcrest & first ally have started it, others will improve with time hopefully. Just imagine zenith fund still using form to liquidate maybe 20k in 2026? Is that lack of marketing strategy or just poor services?

Investment › Re: Mutual Funds by Bluearrow: 7:13am On Mar 17

sky404:
so in Stanbic IBTC mmf,
what's their percentage charges when redeeming(withdrawing) your money??

pls educate me,
cos I intend withdrawing everything from there this week.

I don't really take note of the management fees during withdrawal. It should be very minimal. If u want to withdraw, use the website. That is what I use & their withdrawal is fast.

Investment › Re: Mutual Funds by Bluearrow: 7:10am On Mar 17

EquityM:
Alright, bro. Let's be honest, if the fund managers do not have enough cash at hand, it might be problematic to liquidate. Most MMF invest in treasury bills, FD, CP, and other money market instruments.

Any fund manager that can't manage liquidity shouldn't be operating in the first place. What majority of Nigerians use as emergency savings is MMF.

Investment › Re: Mutual Funds by Bluearrow: 6:16am On Mar 17

EquityM:
Investments, in my opinion, shouldn't be managed like a bank account that you can access at any time. Any liquidation should have a maximum waiting period of 48 to 72 hours. After verifying my Nigerian passport online and my "TIN" in Nigeria, unfortunately, I still have to wait 2 more working days to finally get an approval to start my investment.

You are wrong
Investments are classified under flexible & fixed. If u are investing in flexible assets, u should have access to your funds anytime. Believe me majority of people investing in MMF do so because of liquidity. If the likes of zedcrest, first ally, can do it, then others can do it too, they just need to improve. When I withdraw on stanbic, I get my withdrawal within 3 hours.

Investment › Re: Mutual Funds by Bluearrow: 6:08am On Mar 17

Iamblessed8888:
Wow, you can imagine. Speedy withdrawals sometimes creates a sense of entitlement and may make end users grow a lack of appreciation for the process .

I honestly dont blame people like cowrywise that put a 24 hour timer there. I see Firstally doing same soon or I will recommend it to them when i call their customer care tommorow.

Someone i know waited up to 36hrs before redeeming 1k from STL being marketed here by that big head Creditalerts.

What does the bold even mean?
How can someone be entitled to their own funds? Liquidity is the main reason I invest in mutual fund so I can have access to it. If not for liquidity, I will rather use the money to buy land, because it fights inflation better. In cryptto, investments are classified as flexible or fixed. Mutual fund is not fixed deposit, it falls under flexible investment where investors can still have access to their funds. When u withdraw your flexible investment in binance, u receive it instantly. We should encourage improvement, not encouraging those with fast withdrawal to start delaying withdrawals, that is backward mentality.

When i bought equity fund on zedcrest, it reflected immediately & I was really impressed, when others take 12 to 24 hours to reflect. That is the kind of progress we should encourage here. Just like saying people should stop using cars & planes & go back to travelling with horses. Every fund manager should improve to ensuring instant deposit & quick withdrawal. How quick deposit & withdrawal process is an indication how your funds will be managed. When I made deposit on zenith, it took forever to reflect & their fund management has been very poor so far.

5 Likes

Investment › Re: Equity Investment. by Bluearrow: 3:56am On Mar 17

LoriHamo:
I have initiated withdrawal from zenith assets management this night....

I do not know how long it would take... but at least I have finally taken the bold step

I have gotten the redemption acknowledgement mail...i will keep checking my email... for further action...

Me thinks the delays people complain about might be liquidity related....I raised that concern about their ESG... and I think someone here responded in reassuring manner....

My capital is incomplete, it never recovered.. and I am ready to count my losses and move on.......I would have left this money with them.... but the complains of delayed withdrawal is annoying me....I do not wish to keep my money with FM that would give me headache when I want out...

Meanwhile....I dreaded this moment, but I had to do this.....so I could get a place in the "waiting queue" already....

Who knows....it might take the whole year to redeem...my only consolation this night is that at least....I have started the process...

Never will I experiment with more than 5k again...

Good riddance to bad rubbish

Good night guys

Those guys are crooks

1 Like

Investment › Re: Crypto Currency Investors Thread by Bluearrow: 6:50pm On Mar 16

iLegendd:
So, I asked ChatGPT this: List top crypto exchanges with native tokens.

Then I followed it with: List their lowest prices in 2022 and their current prices.

As you can see, from their lowest in 2022, all of them are still in profit even without alt experiencing a bull market.

Therefore, take exchange tokens seriously and they are hardly delisted.

True
Most of these solid exchanges will always do anything to keep their native tokens afloat. Bnb behave same way like Bitcoinn. You hardly see it on a free fall. Very strong support.

1 Like

Investment › Re: Mutual Funds by Bluearrow: 6:40pm On Mar 16

suckprick:
Next time if you need to withdraw, try processing it 24hrs earlier. Also, do not put money you need for day to day activities in Fund managers.

I agree with u, people should not treat funds invested in mmf as regular bank funds. Though it is flexible type of investment, there should be some level of preparation, because it is invested funds. Timing is very important. Most fund managers, I think apart from zedcrest, once it is past 12pm, anything u do is postponed to the next day probably because of the interest calculation.

3 Likes

Investment › Re: Mutual Funds by Bluearrow: 6:25pm On Mar 16

sky404:
what is their interest rate like today??

I mean this myinvestar first ally??

17.7%

Investment › Re: Mutual Funds by Bluearrow: 6:04pm On Mar 16

ManAdii:
To process redemption wahala.
I even called their customer to beg them that I have an emergency and she promised they will process it yet...
I'm just frustrated right now.

I always advise people to invest some part of their mmf funds in myinvestar first ally for this kind of situation. They have the fastest withdrawal among all the fund managers I have used so far & their interest rate is ok.

1 Like

Investment › Re: Equity Investment. by Bluearrow: 2:32pm On Mar 16

LoriHamo:
Or could it be they intend to hold on to the money for 180days?

No fund manager can hold on to investor money for any number of days, that is stealing. They can only take certain percentage off the profit to discourage investors from frequent withdrawals. My hold period is not yet completed on CS, but my withdrawal was quick. There is something going on with them, reason deposit is slow with a frustrating withdrawal process. My advice to anyone, if u have a way to take out your funds from those guys, do so, they are not transparent.

Investment › Re: Equity Investment. by Bluearrow: 2:24pm On Mar 16

Jesusmylord:
My only advice to them is that if they are not ready to run the business properly, they should consider shutting down the mutual fund operations, because the current process is not investor-friendly.

Obviously they are not ready at all
I check my promotions folder daily, I didn't get their mail. I'm an active email user. The only mistake I made was not checking their reviews on play store, very bad reviews. Some persons even had to go to their office to redeem funds even after filling form. Their poor services reflect both in fund management & basic services.

Over 2 weeks of deposit, no single record of noticable gain, but the losses are very noticable. Every other fund manager recovers deposit amount within 4 days. My current balance is still very far from my initial deposit amount talk more of profit.

Investment › Re: Equity Investment. by Bluearrow: 1:55pm On Mar 16

EquityM:
I will ask her to send the form, and then I can forward it to you.

Why don't they have a pdf download link of the form on their withdrawal page so investors can just download it directly whenever they want to initiate withdrawal. These guys are extremely terrible!

1 Like

Investment › Re: Equity Investment. by Bluearrow: 1:34pm On Mar 16

EquityM:
Really, did you fill out the form? They sent a withdrawal form to someone on this forum.

They didn't send any form
I check my mailbox daily
I only received acknowledgement mail the day I initiated the withdrawal.

Investment › Re: Equity Investment. by Bluearrow: 1:29pm On Mar 16

LoriHamo:
We dey the same ship o
I took my money from CD to zenith...
I am regretting it.....
Even to pull out what they remained for me tire me o

Funny thing u can't even withdraw your money. Immediately I noticed the consistent loss, I withdrew part of my deposit so I can return it to Cardinal stone, it's been 2 weeks, no funds received. I only received acknowledgement withdrawal mail & it was not even deducted from my balance & the money has gone down now again as compared to when I withdraw.

Investment › Re: Equity Investment. by Bluearrow: 1:08pm On Mar 16

EquityM:
MTN, Dangcem, Zenith, Buacement, and Wapco are on cloud nine. Zrosk and CS will make huge profits tonight.

To think I took some money from my CS equity to zenith balanced fund. Chai! Worst investment mistake of last month. Even when every other platform record green, my balance still keep depreciating on zenith. I don't understand what they trade on.

1 Like

Foreign Affairs › Re: U.K, France, Japan, Australia, Reject Trump's Plea For Military Help In Iran by Bluearrow: 11:27am On Mar 16

I won't be surprise
No America past president disrespect her allies the way Trump does. He talks down on US allies with arrogance. Forgetting US allies are part of the reason the world respects US.

50 Likes 3 Shares

Foreign Affairs › Re: Responses To Trump’s Proposed Strait Of Hormuz Naval Coalition by Bluearrow: 11:13am On Mar 16

God1000:
The orange clown is so frustrated, embarrassed and confused

You have been hating on Trump since the 2024 elections, this is someone that doesn't even know u exist. Please get a life.

4 Likes

Foreign Affairs › Re: Trump To Announce Coalition To Escort Tankers Through Strait Of Hormuz by Bluearrow: 11:12am On Mar 16

ElevationD:
If you have an armed man as your neighbor who threatens you and your family daily with extinction, will you fight him or apply diplomacy, giving room for him to he achieve his aim one day?

This is not even about Iran, it is about Trump leadership style. He is not a good leader. He disrespects US allies with his arrogance & he is too erratic. Maybe if it was someone like Biden, this whole thing won't even degenerate into war in the first place.

1 Like

Foreign Affairs › Re: Trump To Announce Coalition To Escort Tankers Through Strait Of Hormuz by Bluearrow: 10:51am On Mar 16

Jokay07:
Trump is very unstable.
He is unfit to lead

Honestly he is very unfit to lead a country like US. He is too erratic! Since he got into power, it's been from one chaos to another. Biden was more diplomatic & a better leader.

1 Like

Foreign Affairs › Re: The New York Times Reports Disagreements Between Israel And U.S. Over Iran War by Bluearrow: 9:58am On Mar 16

Yusman316:
The minute someone has a different opinion from you guys, he is either a terrorist or terrorist sympathiser. Do you people even know the meaning of a terrorist? One of those Trump supporters went on one of the networks and was saying how is responsible for thousands of Americans death. She was asked, where? She couldn't give an answer. Iran is a terrorist state, which country has Iran terrorised? Iran is sponsoring terrorist organisations like Hezbollah and Yemeni Houthis, which countries have these groups attacked?

This is not about opinion matter
The op of this thread spend all of his day on nairaland pushing Iran propaganda, reason I asked if he is being paid by Iran. I don't understand what level of joblessness would make someone stay on nairaland 24 hours posting about Iran or US propaganda.

Foreign Affairs › Re: The New York Times Reports Disagreements Between Israel And U.S. Over Iran War by Bluearrow: 9:55am On Mar 16

frankson1:
Are you getting paid by the us and Israel for your own propaganda, too.

Slave mentality.

You are daft!
Go through my profile & see if I have made any post concerning US Iran war. I'm not that jobless to stay on nairaland 24 hours posting US or Iran propaganda

1 Like

Foreign Affairs › Re: The New York Times Reports Disagreements Between Israel And U.S. Over Iran War by Bluearrow: 9:23am On Mar 16

What I don't understand is do u guys get paid by Iran for all these propaganda? You people don't put effort in pushing issues concerning your country in this manner, but why u guys are so much on Iran is what I don't understand. I never knew we have such number of terrorist sympathizers on this forum.

7 Likes 1 Share

Foreign Affairs › Re: Desertions, Shortages & Army-IRGC Rift Strain Iran’s Military by Bluearrow: 8:40am On Mar 16

bayplus:
Who will forget the war with potential to push fuel in Nigeria to N2000 per litter? This is not Russia-Ukraine. Even Trump is feeling the backlash. He is begging China, and other countries to help open Strait of Homuz, when you start a needless war without consultation and support of all reasonable countries except Netanyahu as partner in war mongering.

Only religious slaves oroginating from a particular part of Nigeria are supporting this madness.

Since the war started has the world paused?? In life nothing is indispensable, even if they block strait of homuz today, another route will open, it may cost more, but with time people will get used to it. More than this was said during the Russia Ukraine war, how Europe was going to suffer energy & gas supply & won't survive because of the war, is Europe not still existing now? Has the Russia Ukraine war ended?? Maximum of 2 months everyone will move on to something new & forget about this war. You can mark this quote.

Foreign Affairs › Re: Desertions, Shortages & Army-IRGC Rift Strain Iran’s Military by Bluearrow: 6:26am On Mar 16

Redarmada:
Well only if USA actually put foot on the ground.
Which will be a bigger disaster for USA.

At least Ukrainians are familiar with the terrain they are fighting in.

Regardless of whether US put foot soldiers on ground or not, everyone will soon forget about the war. I remember how the Russia Ukraine war was the talk of the media in March 2022, who talks about it anymore? In the next few months nobody will talk about this war again, whether it end or not. People will find alternatives & get used to it.

Foreign Affairs › Re: Iran Threatens UAE's Ports And Docks, Warns People To Evacuate Busiest Port by Bluearrow: 9:50pm On Mar 15

Avedonn:
The war is becoming serious. I think US underestimated Iran's military capabilities.

They have no military capabilities
Bombing civilian sites in UAE doesn't translate to military capabilities. If they truly have military capabilities, they would have faced Israel that eliminated their supreme leader. They are just disturbing UAE, so those ones can put pressure on US to stop the war because they are peaceful nation.

Foreign Affairs › Re: Desertions, Shortages & Army-IRGC Rift Strain Iran’s Military by Bluearrow: 7:32pm On Mar 15

Everyone will soon forget this war like the Russia & Ukraine war. Iran will be at the losing end at the end of the day. Just like Ukraine

30 Likes 2 Shares

Foreign Affairs › Re: Iran Vows To Kill Netanyahu by Bluearrow: 11:45am On Mar 15

Iran & noise!
I have never seen a country make so much noise. Before Israel k!lled their supreme leader, they never announced it.

25 Likes 2 Shares

Investment › Re: Crypto Currency Investors Thread by Bluearrow: 5:59pm On Mar 14

Tflex01:
This is one of the reasons Beeteecee may have a lonely ride in the next bull cycle. Alts really f#ckd people up in the last cycle lol

You can say that again...It was a sad one

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