₦airaland Forum

yak:
for those into firstbank MMF, do they give out profit every quarter or annually or its never given until u wish to close the account? the gurus plz

Every quarter

Anxiously waiting for my dividends

Abeg make una no make me laugh too much.

Which one be all these fear fear?

Naijainvestor:
Agreed but you did not put a time on your earlier comment as to the time reference for the 10%, that said, it is still too early on the year, we are just in first quarter but if you can afford it you can go for FGN bonds

Read it again... the same post you quoted

Ups01:
I would have loved to pm you but the mail i used for this nairaland acct has been blocked.

But please i would appreciate if you can please send your digits to me Lekeope @ gmail (.) com


And to the matter...

FBN customer service is lame, its difficult getting across to them
Could you please help with a contact?

What's the difference between

FBN HERITAGE & FBN Fixed income fund.

Thanks in anticipation

@Ernie4life you are not left out, please say something.

Try mailing x.x@fbnquest"dot"com

I will send you an email with a number. Watsapp only please. Cheers

Naijainvestor:
I think I disagree that no mutual fund does anything close to 10%, many mutual funds, especially the Bond Funds returned more than 10% last year. Again, you can use your mutual fund money for emergency as long as you have kept it past the minimum required period which ranges between 90 to 180 days.
For more information on Nigerian mutual funds visit www. mutual funds nigeria dot com( one word) or google quantitative financial analytics, when there click on any fund of interest and you will see the numbers, go to the monthly tab and you will see the month by month performance of each fund etc
Good luck

Oga Sir, are you still using last year figures to estimate for this year? MMF for instance got as high as 15%...I haven't seen anything close to 10% at the MOMENT...catch that? Although since Fixed Income is doing a little above 10%, my statement is also only true partially

ernie4life:
FBN Fixed Income Fund
Invested in fixed income securities such as bonds and treasury bills

FBN Heritage Fund
Invests in equities, bonds and treasury bills

The difference in both are their asset classes

fixed income has a lower risk than the heritage because part of the funds in heritage are invested in equities

carpenter can tell you the rest

Ernie has done justice to it already.

You can read more here...http://www.fbnquest.com/asset-management/investor-resource-center

wizdonnel:
Thanks a lot @ carpenter...I hope to plug the loan into agro business; fish farming,plantain plantation & vegetatables from which I am projecting @ least 70% profit in 12months...But the real question is; do banks accept mutual funds as collateral for loans?

I think they would, I say "I think" because am not a banker and cannot say for sure. Money in a Mutual Fund like Money Market Fund is like money in a savings account but for some Mutual Funds constituted by stocks, they maybe treated like stocks. I know banks used to accept stocks as collateral and may still be doing so as long as the worth is way below what you are asking for. For example, if you need 1m and had 5m worth of Mutual Funds as collateral, its a no brainer that the bank will borrow you since that is about 20% of the worth of the Funds. Am sure they have their calculations and ways of assessment. Any banker here will be able to say for sure...

Again, don't mind me... am sure you got the point in my earlier message but will say it again with figures this time.

Bank loans are what you obtain when you have no other alternatives and you are banking on your investments doing better than the interests you pay. At the moment bank loans are in double digits (ranging from 17% to 32% depending on what you are borrowing for) source:http://nigeria.deposits.org/

No Mutual Fund does any thing close to 10% at the moment. However, there are always exceptions to the rule...if the money you have in your Mutual Fund is your emergency fund then keep it there, you will however not be able to use it during an emergency and the banks will now have some control over it.

wizdonnel:
Is it possible to invest 1million Naira In Investment One VGIF for 3 years and obtain a personal loan of 1million naira from GTBANK or First Bank that will be spread for 36months, with the mutual fund as collateral.

It will not be a wise decision as the cost of the loan will out weigh the profits you get.

hypothetically, I think you won't get the loan of 1m (if you want less, yes) because you would be owing the bank more than 1m and if you default, they may get all their principal back but not the interest. Still not a good move

taiwoliu:
OYO is your name if you want to use gains from mutual fund pay bride price.. .. .. Lol

But then again, MF is not independent of economic direction.

Abi my brother.

By the way, I have moved 80% of my money out of Mutual Funds into poultry farming, investing in a friend's business.

Am excited about the risk and rewards, investing in Nigerian Businesses...I guess this is the reason they crashed the rates. Let me play ball then see how it goes

selade:
@ carpenter. I found it very surprising myself. I have been banking with them for well over 10 years. I have own shares in FBNH and have e-mandate with specimen signature to my First Bank account. Please can you suggest a staff that can help with new account opening. I'm not in town and not able to visit their office right now

Try mailing x.x@fbnquest"dot"com

selade:
@carpenter I have just been informed by a staff of FBN Capital that I need to physically submit or post application forms to them and that they will not accept scanned documents for new account registration. I have successfully opened accounts with StanbicIBTC and InvestmentOne without visiting their offices. Can you confirm if this is indeed the case or do I need to talk to someone else that can help

Wow!

That's a strange one. I was under the impression that a scanned copy should be okay. My case was different because I submitted documents to them back in 2012 and I own shares in their parent company so they have always had my signature specimen.

Try to go to their office if that is what they said.

Ups01:
Alright sir, thanks!
I will do that right away.

I also want to invest in shares how can i get your whatsapp number?

I would rather you ask questions here so we can all learn from it but not a problem to give you a number. I personally do not qualify to give investment advice as I would only tell you how I would do it, that's the risk I take.

You can PM me if it is of a personal nature.

NittaJ:
Meanwhile I hope all is well sha.. I check my ARM MMF account regularly, and noticed that yesterday, money was deducted from my accrued interest for the quarter, instead of being added.. Which reduced the amount!

Also, their money market rates for today refused to display on their website, both on my phone and laptop when I tried to check it on their site. Hope this is nothing to be concerned about

They don't update prices everyday and maybe having technical glitches. Mail them about the deductions though...

Ups01:
Oga carpenter, thanks for the loads of info. But i have been trying to open FBN MNF, to no avail. I tried their website and the only resource i could find was to send them a mail, which they have not replied till now. I when straight to the bank and it seems the customer service does not even know what am talking about.

In essence, HOW DO I OPEN FBN MMF?

Oga O! hmmmm if dem no dey return email say u wan give dem money how dem go return emails when you wan collect...

If you are in Nigeria, please pick up the phone and talk to them.

Also send emails to the following address channelsmgt@fbncapital.com.

If they do not reply by Friday, please send me a PM.

It is not strange to see a FirstBank branch manager that does not know about FBN Capital sef. That's the situation we find ourselves

***modified*** You can mail x.x@fbnquest"dot"com

taiwoliu:
yeah, you are right.... Like I said, I haven't really sat down to think about my investments. Been busy with ensuring a deep root for the business. Contemplating whether to leave the cash in paper investment there and source fund outside for the business or just liquidate everything and pour into the business. #tyel thinking.
I'd appreciate your view on this tho.

To me, and I may be wrong since I am looking at numbers alone. However, numbers are not the only factors worth looking at.

Once you have an emergency fund somewhere, I would say put all your paper investments capital in your business. The only times it makes sense to source for funds elsewhere is (1) When you do not have the capital or (2) the capital you are sourcing is relatively cheaper than what you get from your paper investments. For example, If you are entitled to an SME loan at 6%, it makes sense to borrow and leave your money in paper investments even as it stands. However, if you would be borrowing at greater than 8.6%...it is better to liquidate your investments and put the money in your business even if you do not have all the money and still have to borrow to compliment it.

taiwoliu:
thank you bro, I really appreciate your spot on advice.

I haven't really analysed my investments, been busy with my business lately. But thanks all the same. May God help us in this country

Yeah you mentioned Agro Business some time ago.

If I had a business I was running and it needed some expansion...I would not be investing in mutual funds or shares. I would be investing in my business except for some emergency funds in mutual funds.

thunder74:
I am an insider, the news is not a full reflection of what happened. The truth is that when Flora discovered that her car was missing from where she parked it, and after searching for it for some minutes by asking neighbors, it was then that somebody suggested that she should call her driver. Before then, one good Samaritan who also lives in the estate instructed the security men to lock the gate when he suspected the driver by the way he drove recklessly in the estate in an attempt to take the car away.

When he was stopped, then her madam's call came in, then he lied he was on his way home before the man collected the phone from him to inform Flora that she should be coming to the estate gate that her car is with the driver and should come to identify him before it was now discovered that the car they are looking for was removed by the driver without her consent with a duplicated keys.

The Valentine's story was the driver's story to escape and attract sympathy to distract stealing accusation. He was just taking the car away when he was caught and not that he was returning it.

While this was going on, RSS men came, the madam said she does not want to press charges but the RSS men insisted on taking him away. He would have been released but his family insisted that the madam should give them the 50k to bail the suspect which she said she can't give them.

Last December, the driver hit and broke about four people's leg and condemned the car she was using before. The case is still in court, the madam spent so much money to settle the victims/case before this driver's attempt to steal her new car that she bought in January this year to replace the one he damaged.

Oga O!

He should be left to sleep in jail for a few weeks if the above is what happened. If I were the owner, I would pay him what I owe him and that's the end of the relationship.

taiwoliu:
seems its high time i sent a message to my acct officer. no dulling

Bro...once you find something better to put your money in, move it as long as the risk is commensurate to the reward.

No sentiments, I may be moving all I have in Heritage and Money Market eventually. Inflation @ 9.6 and investments @8.6 doesn't cut it for me. But I will be back...lol

ukay2:
How please?

My VGIF interest has drastically dropped

No good deals anywhere.

Infact I am thinking of selling my units in the Heritage Fund to meet expense needs. The fund is exposed to equities so it have been losing money. Again that is the beauty of some funds like VGIF...you may gain little but you would not be losing what you already gained or your capital. Fortunately, it is same story with FBN MMF but note...they did not say capital is guaranteed o! So shine your eye

Chylo:
Thanks bro, nice tip on Zenith stock. Actually, i'm of the opinion that sometimes the best time to buy in the capital market is when there is a bullish trend, especially now that Nigeria is in a quasi-recession. Because from business cycle modelling, a new bubble may start at any time, and those who wait till then to jump in would be late, and might be entering when the money has already been made. A major recovery is certain to happen, the only question is when and how long would we have to wait for it.

Bros you mean Bearish?

austine4real:
Gooday ppl.
Is it possible 4me 2me invest my 30k in mutual fund?



Hw does it work,is it like savings accnt?


I'm a novice i dnt knw anythn abt stockmarkt and i dnt wnt 2waste d 30k

Oga it is easy and simple. You can invest 5k sef.

Read from page 1 to this page, e plenty small but try.

A lot of factors would determine whether you want to invest this money or keep it in a savings account for now.

Ups01:
just finished reading pg 1-23

I doff my hat.

Sir, do you have any suggestions on shares?

Hallo,

My share portfolio is about twice the money I have in Mutual Funds because I am largely an investor. I only buy once in a while and I have not sold in about 3 years or more. I would say, stick to stocks with good fundamentals and now is the time to buy if you have the money. Stocks are cheap and they may even get cheaper but nothing is for sure unfortunately. I wish I knew the special stock i could put all my money on...but I don't, in reality i don't think anyone does. Below is what I wrote some months back...


"There is no one size fits all. I might be exiting a stock for the same reason someone else wants to enter. My first rule is know thy self and be able to answer some questions truthfully.

I try not to follow the crowd and I believe if you pick a stock with good fundamentals you will always win in the end, the level of your winnings will however still depend on how much you paid for it. Never forget to ask for the price, and don't ever think for a second that you will get it right all the time. There will be loses of -58% and there will be gains of +1000%...untill you sell, you have not lost or gained anything in reality besides dividends which I treasure so much. If you will not be able to manage your emotions to your advantage, invest in a mutual fund https://www.nairaland.com/1912965/mutual-funds ...you will average 10-15% on a yearly basis (some guaranteed, others not guaranteed) and depeding on the fund you choose, you may have capital gains also.

I follow the below steps when investing in the stock market, please note that this is not prescriptive, it is just descriptive

1. Is the price right? (I do all my calculations based on the price I bought a stock not the price it is currently and they are very elementary calculations, after all ...what I gain or lose is based on the price i bought in relation to the market at the time I sell)

2. Am I okay with the risk of taking a big loss on this company? ( I consider myself an owner of the business first, not a monkey merchant. You cannot be pig farmer and be following the ways a monkey farmer feeds his monkeys)

3. Is the stock ethical for me? (I am not inclined to buy into businesses involved in alcohol, the others I can manage with some judgement of my own)

4. Gut feeling (we cannot rule our emotions, it makes us who we are)

5. Evaluation on a yearly basis based on new knowledge acquired (i am not afraid to say...wow! I messed up with this, sometimes I cut my loses, sometimes i build on them). I pick up a lot of things from here from time to time.

6. I take my investments serious, if a company I own has released something I should know (When I visit my registrars I have my manual records ready with me, am going there not to know whats up but to compare figures. From the reception I got the last time I was at a few registrars' office, this is not something they see often)

Note: I am largely an Investor so some of these may not apply to you if you are a speculator

Finally, a profitable and ethically run business may not neccessarily translate to profits for an investor."

Agbalowomeri:
Mercy what we discussed was confidential, why u come dey broadcast am here na

I dey sleep no wake me up again o unless 1) U mean business, or 2) Oil price don reach 150 dollars

no vex...please go back to sleep. Sweet dreams

alt3r3g0:
Something similar happened to me years ago. Got a job and had favor with my boss. So much that he gave me a place to stay in his home at no extra cost. I felt like Joseph. He would go on business trips and i would be in charge of the house and cars.

With that amount of trust he had given me, naturally loyalty will develop. I turned down job offers over 6 times my salary (less than 40k @ the time so you have an idea of the level of lotalty). There was a time he was away for months, no salary, but i did not mind...i had savings that i would use to sustain myself. Then something happened to reset my thinking.

While i was being owed salary and still working deligently, someone came and did a contract that lasted 5 days. At the end of the contract, i paid the person three times my salary on the spot. And that singular act woke me up.

Dusted my cv, went job hunting and God gave me a second chance. Got a job that my tithe was bigger than my previous salary before tax.

I resigned and moved on amicably. We still see once in a while.

That's the way it works man. Sometimes you are so attached to your boss or employer but you have to move on once you out grow those roles or your company. In fact you would be an enemy to yourself if you keep some jobs...any understanding good boss and company would also know that you need to move on.

iamosamede55:
You have to be very careful with such decisions. Though nothing in life is guaranteed. I had a similar experience in 2013.. I got a new job after just one month. The new job was times 4 in terms of salary, inline with my career goals, better working conditions, better staff welfare, so naturally i porter. But just a year later, I lost the job due to lack of projects. Had to stay for 5montgs before I could land something again, and till now my career us still not stable.
Note I served in am oil and gas servicing compan, firsy job was in FMCG( Natural prime resources limited) makers of so klin detergent. The new offer I got was in the oil and gas industry ( engineering design services)

Bros,

If I had such a deal a 100 times, I will pick the new job a 100 times. Money made in 1 year is equivalent to what you would have made in the old job for four years or at best 2-3 years. Yes,you stayed home for 5 months but still a fantastic deal and to crown it, it had better working conditions and welfare.

And you are very correct, nothing is guaranteed.

How market?

I have gone ahead to buy more of FBN, Oando, Tiger Brands, Nahco, AG Leventis, Learn Africa, Livestock Feeds and Transcorp.

No major reason why besides, it is sales!!! I just feel like spending some money, same as others would go to a shop and buy themselves clothes or cars. The only stock I plan on selling when things pick up is FBN.

Goodwill hunting...

yak:
abeg hw do I open d online Acc? tnx

There is an online access button to fill an online access form but it is not working at the moment.

Try to send a mail to the email addresses below or anyone you have been in contact with

http://www.fbnquest.com/asset-management/contact-us

ukay2:
Oga Carpenter, STANBIC IBTC Bank MMF as @ yesterday is 6.89%...going down...

Why is it so?

Why MMF interest not the same among different fund managers?

Simply because the % at which each fund manager invests in the instruments that constitute their MMF is different.

They all probably invest in the same set of instruments but at varying percentages ...also their management fee is different.

This is FBN MMF, you can see it is going down too http://www.fbnquest.com/asset-management/fund-prices/mutual-funds-yield-history/historic-yield---january-2016