Burchester:
Which money market fund provider is the best ?

Come over to Stanbic or EDC asset Mgt.
In fund management the word best is relative.
Each of them provided they are regulated by SEC it's okay.
The other things are all relative and most times based on individual interests/preferences.

freeman67:


I don't think they will be any penalty. He didn't withdraw all the money. Also, the penalty normally is from the interest not principal. So, even if they would be, it would not reflect.

There is always a penalty on the interest of any fund deposited that is not up to 30 days and withdrawn. Why some investors don't seem to notice is because the amount deducted may be very small compared to what they received.

lolaluv1:
What is happening with Stanbic MMF? The January profit was liquidated, and now February profit too. But none of this was paid to me.
Is it reinvested or what?

Now even the daily returns that used to be uploaded is no longer showing.

Please who has information about them? I just want to have a possible explanation before I do them an email...

There is no problem, they just changed their method of dividend payment/reinvestment.

Before now dividend we're reinvested randomly but from this year January they decided to make it a monthly affairs.

You can check to see that your capital has increased by the accrued interest for February.

Generally MMF pay/reinvest interest quarterly but IBTC operates this monthly model of monthly payment.

NL1960:


That's true. He needs to clarify that aspect.

If the 1M has been there in the account for 30 days or more he will pay a penalty on the accrued interest on 4M of the 5M withdrawn otherwise it's as I stated earlier.

TheBTCinvestor:
Please wats wrong with Stanbic Money Market Fund...I made a withdrawal since Tuesday 28th Febuary and since then iv not gotten payment into my bank account. What is really going on?

If you have done the needful from your end, kindly send a mail to investments@stanbicibtc.com to complain.

I think it's a transfer issue from the custodian bank and may not be unconnected to the current general electronic channels breakdown within the banking industry otherwise, redemption takes few hours for your money hit your account

igbizen:


I had 1M in MMF. Then I added 4.5M and added another 4.5M the next day making the total funds to be 10M. After two weeks I withdrew 5M. And allowed the balance 5M to remain for 30days. What will be the penalty.

The penalty will be 20% of the accrued interest on the 5M you withdraw before 30 days

Redoil:

i made a transfer of 150,000 on Wednesday 1st March 2023 into my SFS Fixed income fund account, the amount is not reflcecting in my dash board
i want to be sure i am doing the right thing before mi transfer the remaining 2,000,000 can you please explain to me

Really, pls chat with me with the number on my link so that I can get some details that may not be right to share here.

Please do that now I'm online.

freeman67:
That rate there (5%) is per annum and not for the 30 days as you are assuming.meaning is for the whole year and will have to be divided by 12 to get the real rate. So if you were to make that investment, what you will get is actually about 0.416 instead, mind you that 10% tax will also be deducted from the interest you will get.

@TY207 what @freeman67 just said is the perfect answer to your question. Sincerely speaking not just for the reason of marketing there will never be any time bank will give a rate higher than MMF rate. The truth is that part of the money you fixed or deposit with the bank at whatever rate they promised is also invested in MMF.

Always bear this in mind, any government-regulated investment is always per annum. It can only be prorated to whatever period based on the nature of the product.

Another advantage of MMF or Fixed income fund apart from the fact that the rate is higher and WHT free, you can top up with any amount at any time, the rate is not static and exit is without penalty after 30 days.

So my advice is get onboard the stanbic MMF or SFS Fixed income fund and enjoy good rates.

Currently, Stanbic MMF is 9.36% while SFS FIF is 11.05%

You can reach out to me or click the links on my signature to start investing.

For a more stable interest rate consider
SFS Fixed Income Fund.

Get in touch/click the link on my signature to start.

igbizen:
O boy, somebody don Dey drag Emmasoft work?

Na so we see am o bros.
In any case, the market is big enough for everyone to play in.

It's well.

Stanbic MMF Unique Features
Enjoy monthly payment/reinvestment of interest when you invest in Stanbic IBTC MMF.

For those already on board, check your account your February accrued interest has already been reinvested.

Click the link on my signature to start investing.

alezzy13:


It never worked for me right from day one of the takeover. Several mails to them get the usual 'we are working on it' reply. However they send me statement via email when requested.

Just that the parent bank (GT) is one I've used for years and generally satisfied with their services, if not would have dumped the MMF since.

Honestly many people including myself thought GTFundmanagers will be superb judging from what their parent company is known for but so far we were proved wrong. Well, it's possible they get it right with time.

For now, I sell MMF for Stanbic and EDC and Fixed income for SFS.

Najdorf:
How can I get into the Stock Market and Trading? Any advice?

First know something even if little about the stock market how it works and have a personal investment objective.

What you about to go into is an experience of a life time not just a one off thing. So don't be in a hurry seek the right knowledge.

Also note that you will need hands-on experience ie you will need to be involved in the buying/selling hence you need a good stockbroking firm with an online portal.

You can chat me up if you wish to come on board investment one stockbrokers for an experience you will not regret.

freeman67:


@emmasoft see customer.

Thank you my brother @freeman67. I hope he comes over.
He's sure to get good and reliable services as always.

bigiyaro:
Hello there, I have been trying to get a car for e-hailing since last year, I have 500k so far and my rent is coming up in June (200k) I don't want this money just lying around, I have heard of ibtc mutual funds, pls I need more info on how to put this money there. Thanks.

Good decision.
Two different mutual funds you can use right now.
Either SFS fixed income fund 11.01%
or stanbic mmf 9.89%

They are both low risk.
No WHT on the interest.

The interest is valued daily but paid/reinvested quarterly for SFS and monthly for ibtc.

Since you are keeping the money for a target I will advise you to opt for reinvestment of interest which is usually the default option.
You also have the opportunity to top up in case you have some cash before your target time.

To start, click the links on my signature and complete the online form.

You can also call/chat me up with the phone number on my signature if you need further clarification.

I look forward to having you on board.

Foodempire:


Thanks. Sorted, total funds received. I had to do all process manually, they seem not ready for business going the analog ways.

Great!
You can look the way of SFS, Stanbic, or EDC if you still wish to go with Fixed income fund or MMF respectively.
Just click the links on my signature to come on board.

essentialone:


Please, which date will NB credit their bonus shares?

As earlier said on this thread, crediting of bonus shares doesn't have a specific date. Once you are qualified for the bonus, all you need to do is to wait and after the company is through with the usual regulatory protocols it will be credited even if you have sold your holdings after the closure of the register

ojesymsym, a:
No sir, you can no longer login

That means GTFundmanagers portal is having issues now. Before now when they tookover from ione last year it was working.

The alternative is to ask them for your statement and redemption form anytime it's needed.

Foodempire:


Pls how can I access my investment one money market account? The previous website they sent via email is no longer working. I will like to withdraw all my funds, I don't feel comfortable dealing with them anymore. I sent them emails but no response yet

Please note that effective last year January, Investment one is no longer the fund manager of Abacus MMF. The new fund manager is GTfundmanagers a member of GTCO.

However, all login details from investment one will still work with the new fund managers.
You can send them a mail to ask for your statement or redemption form. I'm sure it will be done.

If you still wish to invest in MMF or fixed income fund, click on the link on my signature to open an account with Stanbic IBTC Asset Mgt , EDC Asset mgt., or SFS capital.

Foodempire:


Pls how can I access my investment one money market account? The previous website they sent via email is no longer working. I will like to withdraw all my funds, I don't feel comfortable dealing with them anymore. I sent them emails but no response yet

Please note that effective last year January, Investment one is no longer the fund manager of Abacus MMF. The new fund manager is GTfundmanagers a member of GTCO.

However, all login details from investment one will still work with the new fund managers.
You can send them a mail to ask for your statement or redemption form. I'm sure it will be done.

If you still wish to invest in MMF or fixed income fund, click on the link on my signature to open an account with Stanbic IBTC Asset Mgt , EDC Asset mgt., or SFS capital.

NL1960:


What is the redemption policy of Stanbic IBTC MMF ?.

Minimum holding period 30 days.
Redemption is within 24hrs if u apply before 12noon otherwise you get your money the next business day

Tohmey:

Clear me sir, is it when breaked it that 10% will be deducted?

I want to believe you are asking if it's when you withdraw before maturity that 10% is deducted.

No it's a regulatory requirement for fixed deposit.
Even when you hold to maturity the 10% WHT will be deducted, if you didn’t hold to maturity it will be more.

Please note that fixed deposit is different from fixed income fund.

The later is a mutual fund no deduction of WHT by regulatory policy while the former is cash deposit similar to what the commercial banks do.

I hope this help.

ibechris:



Have u moved again?

Yes. The movement to FSDH didn't work out then.
Currently, I sell

Fixed income fund for SFS capital,

MMF for Stanbic IBTC Asset Management and EDC Fund Management Ltd,

Stockbroking for Investment one.

NL1960:


Thanks.

Please elaborate on this stanbic ibtc MMF as she already has the StanbicIBTC Asset Management account opening forms sent to her by her account officer. She is just waiting for my advice on which one to choose from the list or doing a Fixed Deposit. The key questions are if interest is accrued daily and if so when is interest paid and if to be paid, is there a re-investment option?. I still have the VGIF you once recommended as i understand how it works.

Stanbic IBTC MMF is like any other money market fund.
Interest accrued daily as well.

Reinvestment is available, it’s just like the VGIF you know the only difference is that interest is valued daily, and reinvestment is done at the end of each month not every six months like VGIF.

Actually, the method of reinvesting at the end of each month just started this January. IBTC used to reinvest randomly.

The SFS operates the same way in fact default is reinvesting except you state otherwise.
Reinvestment here is quarterly.

Please to help my ministry tell you wife to use my link on my signature. The account officer will still be maintained.

After registration, she can inform the account officer or if she insists on the paper form kindly write this code on the form L63LJ7GX

Thank you.

Tohmey:

Thanks sir, but am seeing fixed deposit on INVESTMENT ONE 500k and above at 11% p. a and 5,000,000 and above at 14% p.a. How safe is that one causd I'm considering to use that one due to i already have account with them

It's also safe, but know that 10% WHT will always be deducted from interest on fixed deposits and the rate remain fixed irrespective of any positive changes in MPR.

NL1960:


Which Company is behind SFS?. My wife is looking for a fund to move her savinga to. I have VGIF from GTFunds(Former Investment-One) for myself. Iam evaluating others for her

SFS Capital is the company. They are just like investment one as well. A company that resulted from a management buy out as a result of regulatory policies.
They also have one of the oldest Reit - SFS REIT.

SFS Fund is managed by SFS Capital Nigeria Limited, a product of a Management Buy-out of Skye Financial Services Limited, which operated as the investment banking and investment management subsidiary of Skye Bank Plc. The change began after the Central Bank of Nigeria (CBN) instructed all Nigerian banks to sell off their non-banking subsidiaries. Coincidentally, while the divestment process was in progress, SEC began implementing the rule preventing Asset Management Companies from engaging in other activities. All this combined led the existing management to carve out SFS Capital Nigeria as the Portfolio and Fund Manager for SFS Fund.

Since your wife wants any safe investment SFS is good and you can also check other funds I represent. They are all safe without any equity involvement.
EDC MMF and stanbic ibtc MMF.
The links are on my signature.

Tohmey:

Sir, How safe it is

SFS fixed income fund is in the category of safe investment. It's very safe.

Underlying assets doesn't involve equities so no fear of capital loss.

FGN bonds and treasury bills are backed by the might of the federal government. All capital invested in the fund is very safe and returns are sure.

The fund was lunch in 2014 and since then till now it has been doing great and rewarding investors nicely.

Looking for a profitable fixed income fund?

SFS Fixed income fund is your best choice.

Features:
Current Rate: 11.01%
Fund managers: SFS Capital
Custodian: Stanbic IBTC
Trustees: STL Trustees
Regulator: SEC
Income Distribution: Quarterly
Income accrual: Daily
Interest reinvestment (compounding) allowed
Minimum investment amount: 5,000
Underlying Assets: FGBN Bonds, Treasury bills, Blue Chip corporate commercial papers
Online account and investment monitoring with the web/app available

Click the link on my signature to register online.

Looking for a profitable fixed income fund?

SFS Fixed income fund is your best choice.

Features:
Current Rate: 11.01%
Fund managers: SFS Capital
Custodian: Stanbic IBTC
Trustees: STL Trustees
Regulator: SEC
Income Distribution: Quarterly
Income accrual: Daily
Interest reinvestment (compounding) allowed
Minimum investment amount: 5,000
Underlying Assets: FGBN Bonds, Treasury bills, Blue Chip corporate commercial papers
Online account and investment monitoring with the web/app available

Click the link on my signature to register online.

Dum20:


Bro you are no longer with FSDH?

Yes between August and December last year, I was there but the terms of bringing me on board didn't work out so I have to move on.

Currently, I do this:

I sell fixed income for SFS capital,
MMF for Stanbic and EDC, and
Stockbroking for Investment one.

Please note I'm not saying FSDH is a bad firm.

Thank you.

iamrichiefola:
Good evening investors,

I'm thinking of investing in MTN Shares and possibly other promising shares.

I'm new to stocks and would appreciate suggestions on:

1. Reliable stock broker to register with.
2. Books that could help me learn about the market.
3. General advice to help me as I go along.

Thanks

Investment one stockbrokers recommended

Get in touch for every other thing as per stocks.
We can go step by step together on how to navigate the market as an investor.

Use the number on my signature to get in touch.

exclusiveoloori:


How come their rate is higher than the current Tbill rate?

MMFs have more than just Tbills as the underlying assets.