₦airaland Forum

Feygbe:
Thank you very much.

I kindly PM'ed you. Please reply.

I already replied before I saw your post.

Feygbe:
Hello all. Thank you for the wonderful information provided. I'm kindly seeking recommendations between Norrenberger and FBNquest for MMF.

Go with Norrenberger.

See the account opening form attached.

Oladele2393:
How safe is the platform

Norrenberger is a SEC regulated firm.
It's safe. Chat me up if you need further clarifications.

Saybal:
Do they have monthly reinvestment at the end of each month like stanbic MMF

Reinvestment is done at the end of each quarter.

Investuz:
What I'm seeing at the end of each month is titled Interest Gained.. is it the same thing?

Yes, it's. If you didn't pick reinvestment, you will only see a pay out into your bank account at the end of each quarter.

Investuz:
How can one be sure accrued interests are being reinvested? Not sure if I gave such instruction as at the time of filling the form years back with ibtc mmf

By default, your interest is reinvested except if it's otherwise. To be sure of your option, check your transactions, you will always see a transaction of subscription that you didn't do a top-up for at the end of each month

Get 22.6% on your capital if you invest in the Norrenberger MMF.

See the attached account opening form or talk to me.

Locotrader:
I don't always like low commissions but quality service

For quality service use investment one or cardinal stone.

Atlas also give better service than Morgan these days though they both have same interface and same low fees

@Streetinvestor2 and any other investor, please use my link if you choose to go with Investment One at any time. I am here to help.

Link to open an account is the third on my signature.

Thank you.

Bossgem:
Good evening house. Please who is using ARM One mutual funds? Please share your experience with them.

I sent money to Norrenberger MMF account this morning before 12 pm. They have yet to credit my balance. Please is this normal?

If the money hits the account before noon, you will still have today's value and interest irrespective of the time of posting.

mex551:
I have a question, I live abroad and you hardly see bonds that give above 5%. So I am wondering why? Is it now safer to save money through this particular dollar MMF rather than conventionally saving or investing abroad. How come they make more money and roi is more than bonds themself in Europe?

Rates are always higher in an economy plagued with high inflation. An economy with low inflation will have low interest rate.
Here in Nigeria, about 4 or 5 years ago rate went down to as low as 4%.

The underlying asset of all dollar funds is basically eurobonds.

Norrenberger is a SEC regulated firm so everything is controlled and regulated.
You can contact me I will send you the factsheet of the fund.

Rubby1:
Good morning great people. Pls is 500K investment a good starting point on stanbic mmf?

It's more than good. You can start with as low as 5k

yusfatedeeprof:
Please is the interest earned on MMFs subject to withholding tax?

NO, that is one of the advantages of investing in MMF. U get all you earn without WHT.

Oyindamolah:
Thank you for your response but you fail to answer the rate of the interest and if the interest yield is daily weekly or monthly.

The rate is 9.82% as of today, and interest is paid quarterly as already stated. Note that all government-controlled investment rates are per annum; it's only prorated based on the product.

emmaodet:
Why do you classify eurobonds as moderate risk instead of low? Since bonds are low risk investment

Please note that Eurobonds have some element of risk. It's not exactly like the money market fund, which always falls under the low-risk investment.

Why are Eurobonds considered medium risk?

1. Issuer Risk. Particularly, bonds not issued by the government ie issued by corporate bodies, are riskier. The credit worthies ie, the ability to meet the financial obligations, vary from issuer to issuer. There is the possibility of a default in the return payment.

2. Liquidity. Some bonds may be illiquid, especially the ones issued by smaller bodies. Illiquidity could make a bond difficult to sell at a reasonable price.

3. Price-based. Market forces control Eurobonds; the price may fall below the initial issued price or market value. Interest and price are always inversely proportional.

4. There could be foreign exchange risk with eurobonds because they are always issued in a currency different from the local currency of the issuer's country.

Check all through the industry, you will discover that all mutual funds that have Bonds as underlying assets always fall under medium risk investment

Adadajiki909:
Emma soft, how do i return the form after completion?

Once you complete the form, attach your kyc documents and get in touch. My number is on my signature, I will give you the email to send it to for quick and express service. I want to avoid a ban because I just came back from one, hence I'm not posting the email here.

Please note that if you don't have the means to fill the form in soft copy, you can print in color or black and white, it's acceptable.

Oyindamolah:
What's the interest rate?
Is the interest accrued daily, weekly or monthly?
What's the withdrawal process?
MUST I have $ before I can make the deposit?and can someone outside Nigeria?

Interest is paid or reinvested quarterly, depending on your option during registration

Withdrawal can be done online from your account by clicking on the redemption button and following through, or ask for a redemption form, complete and send it back to them. You will be paid within 24 hours on a business day.

Yes, you will need to bring in your dollars, either by making a transfer or depositing the dollar cash into the fund's collection account.

Yes, Nigerians in diaspora can invest in NDF and any other mutual funds.

Find attached the registration form for the NDF and MMF. You can get in touch if you need more guidance. My number is on my signature.

Adadajiki909:
Please how do i upgrade my Stanbic IBTC acc TO PREMIUM, In have submitted all necessary document, still not upgraded?
Also, how safe is investing with OPTIMUS?

Once you submit all your kyc documents, wait for about 48 hours (two working days). You can also call the customer care.

jayce232:
Does this Norrenberger dollar mmf operate same like our local currency mmf? I thought their dollar fund investment is different from mmf?

Please note that all dollar funds, including NDF, operate differently from MMF. They don't have the same underlying assets. While MMF assets are TBills and commercial papers, Dollar funds have eurobonds as underlying assets.

In investment categorization with respect to risk, an MMF is low-risk or conservative, while a dollar fund is medium-risk or moderately conservative.

Oyindamolah:
Good morning

Please confirm the minimum amount one can invest in MMF dollar account

The minimum initial deposit is $550. Subsequent top-ups are money for one unit, which is about $103

Lindaa97:
Good afternoon, I set up the account with Norrenberger, and upon trying to set up the dollar fund, the customer care support informed me that I have to pay in dollars to their dollar account. meaning that I need USD to fund or access their dollar investments, as they do not do any conversion.

True, that conversion policy just changed of recent.
The window is closed, now customers have to bring in their dollars just like other fund managers do, they have to do the conversion by themselves.

However, the good part is that you can still deposit your dollar cash.
Once you do the conversion, just deposi the cash. It's actually cheaper because Norrenberger conversion rate use to be a little higher than black market rate.

Bossgem:
Hello house. I recently opened a mutual funds account with Norrenberger. I also funded it.

Please who is currently using Norrenberger for mutual funds and what is the experience with them like.

I'm still new to mutual funds. I funded my mutual funds account today. If I want to invest more money by next month, will the money be used to subscribe a separate unit of MMF or will it be added to my existing mmf money. Please help me understand

@Bossgem, welcome to Norrenberger.

You can top up your MMF any time with any amount from 5k. The amount will be added to your existing capital and interest is always calculated based on the available balance of your MMF account at any point in time.

unite4real:
Even transcorp and UACN that declared 60 kobo and 22 kobo respectively have not dropped to N15K from their respective highs of around N44 and N35 respectively.

GTCO that declared N7 couldn't close significantly on qualifications date from the price when it was announced.

Then you have other companies without dividend and price remained where they are with some even appreciating in price.

This stocks market na the more you look the less you see.

When it comes to the NGX, there are many factors that affect price, not only the result or dividend, the goodwill of the brand, personalities on the board/owners, general market sentiments at any time, value of the company, whether perceived or real, economic realities, etc. An average Nigerian, particularly the millennial and older generations, believes their money is safest with First Bank.

Larash:
I’m finding it difficult to upload the documents

Check the size of the files you are trying to upload, it's most likely that the files are too large. Reduce it and try it again.
It can also be a poor network.

Larash:
thank you for the reply please how to fill the online form I’m first time

It's simple. Click the first link on my signature, then scroll to money market fund and click Buy Now. a form will come up continue to fill.

Chat me if you need further guide on this.

Access final dividend N2.05

Lindaa97:
Good afternoon @Emmasoft, do you have an idea how to invest in the Stanbic IBTC dollar asset. Do I need to open a dollar account or I can just pay into my naira wallet and they convert to dollar.

Good afternoon @Lindaa97. Sincerely I prefer Norrenberger when it comes to dollar fund beacuse of better rate and the fact that they accept naira and do conversion to dollar at the point of investment.

Yes, for Stanbic dollar fund, you need to have the dollar and also have a dom account.

You can chat me up.

VeeInsider:
Good evening, everyone. I would like to inquire about the number of withdrawals permitted per month for Stanbic Mutual Funds. Many savings accounts limit withdrawals to three per month to maintain interest; I am curious if a similar restriction applies to Money Market Funds.

No, MMF is not treated like cash in the bank. It's not a savings account, its an investment.

You are only penalised if you withdraw within 30 days of your deposit, in that case you pay 20% of the accrued interest on your withdrawal.