₦airaland Forum

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

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.

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.

sky404:
what is their interest rate like today??

I mean this myinvestar first ally??

17.7%

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.

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.

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.

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!

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.

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.

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.

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.

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.

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.

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.

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.

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

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.

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.

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.

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.

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

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

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

Nothing we won't see on this thread
How can someone be calling number termed intimidation? On a faceless forum? Some persons call these numbers just to portray their point better. If u can see it as intimidation u have self esteem issues gosh!
It should even serve as more of a motivation, it gives u an idea of the kind of funds people have in these platforms, that way u feel relaxed & less fearful regardless of your amount.

We just saw someone saying if his funds is safe in mmf, imagine such a person had 10m & seeing others saying they dumped 100m there, I believe he will be more relaxed. People should be free to express their point however they like, I don't see how this translates to intimidation at all.

sweetveek:
Nobody is talking about WiF free fall?

This Wif was hit really hard, my own don turn dust, at least pepe is still managing. This wif just made me remember a guy called crash on YouTube, that guy had almost $5m worth of Brett as of early 2024 & was always saying he will never sell. Those coins will be worth less than $100k now. Imagine dropping from around $4.8m to $100k. If only he had that money in Bitcoinn, he will still be in profit, as at then Bitcoinn was around 60k.

Uberchic1:
If I am a zedcrest rep, will I be asking people to open CD instead? Please let's ask reasonable questions this early morning. God bless.

There is nothing unreasonable about my question, any sane person will think same. I just realized alot of us got to know zedcrest here through u. Your comments have been personal & defensive. I don't see what would have triggered a neutral investor to do that in his post

Uberchic1:
Then people should just stop investing with zedcrest, no? Each fund performance relies on the selection of stocks.. We all know this. A sector might do well today and one fund manager heavily invested in it so they record heavy green while others who aren't heavily invested in that sector record tiny green or even red. The sector zedcrest invested heavily in did extremely well during the early bull run from January to late February. CD CSOF is even higher. Zrosk is almost on par with zedcrest. People should put their funds there instead if they want high ytd or just stick to regular Cardinal Stone for transparency. This isn't a new topic. Some others have mentioned zedcrest's lack of transparency before and it was heavily advised on this same thread to avoid them and do CD instead.

However, ignoring all the transparency talks a few pages back to still open zedcrest because of high ytd only to come and also complain of transparency. I mean, what is the point 💀

And btw, that person is even wrong about the ytd not reflecting. I posted screenshots to show that the ytd in fact went down a bit and reflected the losses. So let's sha not spread misinformation.

Why are u getting all defensive?
Are u a zedcrest representative?
The way u are viewing this is kinda of surprising. This is not about zedcrest, it is about the YTD of fund managers without daily update like cardinal stone which can make gains or loss difficult to track. When I asked equity.m about this YTD thing few days ago, what prompted me was quantum zenith, not even zedcrest.

Uberchic1:
Just because some other fund managers record green doesn't mean all will record green the same day. The daily performance of each equity fund depends on the individual stocks in each fund managers portfolio. EquityM, you know this. So because CD did green doesn't mean Zedcrest must also do green.

I honestly don't think the bold is his point, everyone know all fund managers don't have same stocks in their basket, so don't see this as an attack on zedcrest. The issue is YTD update. I asked equity.m this samething few days ago. How come equity market has been doing sideways since last week, but the YTD of some of these fund managers is still flying high? That was why he said if there is anyone that put their funds in January that can confirm the current yield on his capital. We should see reduction & increase swing as market fluctuates, which will make their unit price cheaper, but they all keep flying up.

truthbetold22:
Yes, I noticed CS gained around 1.5%. I monitor them daily. Once I recoup my loses from Zedcrest; I ll exit it and stick with cardinal stone. Transparency is much more important to me than profit. Zedcrest ytd rose yesterday but there was a loss.

So how do we justify that?

It is possible some of these fund managers may not be updating their loss consistently.

sky404:
At least with commercial banks,
You can Get your money back through NDIC, should the Bank liquidates.
as all deposits from 5m & below are all insured by NDIC.
Therefore,
You are Guaranteed Getting your money back, should the Bank folds.

So what about people with 50m, 100m in their bank account, what should they do? Since the maximum NDIC insures is 5m?

ozo13:
I bet to disagree that ur opening statement.in war, there are think thank, the Iranians know they are no match to the US. So they are attacking infrastructure of US allies in the same region so that those people can drag US to stop the war, in coming days we will know who got the upper hand in term of war strategies

Exactly
They are no match for Israel or US
What Iranians are doing is like a child poking his mother to beg the father on his behalf. Because that child can't confront the dad.