₦airaland Forum

yungmin:
How can one subscribe? Are they trusted? Please, share guide

Yes, Norrenberger MMF is currently 22.67%. They are SEC-regulated.

Parties to the Fund:

Fund Manager- Norrenberger Asset Management
Custodian Bank: UBA
Trustees: UTL Trust Management Services Limited
Regulator: SEC

Find attached the subscription form for both MMF, Dollar, and Islamic funds.

You can also talk to me. See my phone number on my signature.

USA2019:
Hello Everyone, I just have a quick question. Has GTCO (DataMax) credited the approved public offer shares to anyone's CSCS account? I got the e-allotment advice from DataMax Registrars, but the shares have not yet been deposited into my CSCS. Anyone else in that situation?

For those yet to get their GTCO shares from the last offer, click on the link below to complete the cscs update form provided by the registrars of the company as part of the solution to the issue.

https://www.cognitoforms.com/DataMaxGroup1/CSCSACCOUNTDETAILSUPDATEFORM2

Neurotika:
It’s the volatility I'm concerned about. The effective rate will be significantly lower than their competitors by the end of the year if this random walk continues.

At the beginning of the year it was stated in many quarters and by different analyst that the rate will trend down this year base on economic realities and monetary policy in the country. We should not be surprised and don't stop investing.
There is always seasons for everything including investment

jplambert:
Stanbic is 19.98 today

If you put 100m in fbnquest & STANBIC, you will make more than 2m on your fbnquest compared to STANBIC mmf

I think fbnquest is much more better than STANBIC IBTC

I guess many of us are new to how MMF work.

MMF is always in a range and valued daily and rates are subject to economic realities.

You don't judge MMF performance by just one day or few days rate.
The truth is that at the long run, returns from MMFs are virtually the same all things being equal.

One major reason and advantage of MMF is that the rate is always higher than the regular savings in MDBs and the benchmark is the rate of 3 months TBills.

Hence any MMF doing the same as 90 days Tbills rate or more is regarded as normal.

Like I always say, let's enjoy the rates while it last.

Ask those who have been around for long in the mutual fund business, you will understand that rates were less than 6% at a time and Tbills were practically no go area with rates as low as 3% then. Don't also forget that MMF is a low risk investment so investors' expectations should not be too high as to make it look like it's a volatile investment such as stocks or other riskier investment windows.

safex:
Do you know any similar investment for GBP?

Yes, get in touch with the phone number on my signature.

jplambert:
You are right but j think it's better to invest the money in reasonable business than MMF

prices of goods still high, exchange rate still high so keeping money somewhere while getting meagre return is not advisable (my personal opinion)

Putting your money in business is a form of investment and your money in
MMF is another.

All forms of investment is good but carries different level of risk.

They serve different purposes and depending on individual investor's objective, availability, time, knowledge, economic realities etc.
Choices are made.

Onyiridike:
I wanted to top up my Stanbic MMF account but I have to wait. The yield I am seeing is not encouraging.

Your money loses more value while waiting. Note that MMF rates are dynamic and the era of very high yield may be over because of current economic realities. However, having your money in MMF is still better than when kept in a normal savings account in the bank or fixed deposit.

The need for having two fund managers or another form of a mutual fund like a fixed income fund comes into play here.

barnaby04:
Hello guys,

Please is there a way one can recover a lost CSCS details? I can't remember my CSCS account number which I opened with the defunct Cashcraft Asset management stock brokers.

If you are in Lagos go to cscs office at Stock exchange 2-4 Custom street, Lagos Island.

You can also send a mail to cscs requesting for your cscs statement. You will be requested to pay some money usually around 500 or less.

You must move your stocks from the dead house (Cash Craft) to a new firm.

You can move to Investment One. I have done it for some folks here.

Get in touch if you need further clarification

Your dollars should not be idle make it work hard for you

Invest in Norrenberger dollar fund at 10.33%

Use the attached form to start investing.

Your dollars should not be idle make it work hard for you

Invest in Norrenberger dollar fund at 10.33%

Use the attached form to start investing.

Timmi:
What is the interest rate on the Norrenberger dollar fund.

As of today 9.91%

Risingcash94:
Ok thanks. So what's the first step. Download the app?

Okay. Click on the second link on my signature, it will prompt you to download the app either for Android or iOS depending on your type of phone. After downloading launch it and fill out the form that comes up. on the referral code space, write SA-Emma. Every other thing is the usual kyc that you know.

Note that with the app you can do savings, MMF, fixed deposit (Vault), and Tbills.

Please feel free to contact me if necessary. See my contact displayed on my signature.

Risingcash94:
For tbills do these apps pay upfront interests like banks?

Yes, if you picked that option. Particularly with First Ally and you can always reach out to me if you need further clarifications.

Recommendations for your consideration:

MMF

Norrenberger
First Ally
Stanbic

Dollar fund

Norrenberger - They also accept naira but returns is in dollars.

Fixed Income

SFS Fixed income fund -19.01%
Norrenberger Turbo Fund - 14.19%

Treasury Bills

First Ally
Investment one
Stanbic bluNest

Savings with a good rate

First Ally

Stockbroking

Investment One stockbrokers

Click the link on my signature or reach out to me if you want the services of these firms, get quick services, and a guide generally on investment.

Please help my ministry.

Recommendations for your consideration:

MMF

Norrenberger
First Ally
Stanbic

Dollar fund

Norrenberger - They also accept naira but returns is in dollars.

Fixed Income

SFS Fixed income fund -19.01%
Norrenberger Turbo Fund - 14.19%

Treasury Bills

First Ally
Investment one
Stanbic bluNest

Savings with a good rate

First Ally

Stockbroking

Investment One stockbrokers

Click the link on my signature or reach out to me if you want the services of these firms, get quick services, and a guide generally on investment.

Please help my ministry.

Take note of the following before engaging a fund manager/stockbroker for any service

check the name using this link https://sec.gov.ng/cmos/

If the name is not displayed after the search, don't engage them,
regardless of the promised rate or services.
If the name appears, even if it's a new firm or not popular, it's legit.

For mutual funds, be sure to confirm if the following parties are
present for the fund you wish to invest in:

- the fund manager
- custodian bank
- trustees
- SEC

Note that having an app or being popular is not a criterion for knowing a legitimate firm.

Let's be well-guided.

Take note of the following before engaging a fund manager/stockbroker for any service

check the name using this link https://sec.gov.ng/cmos/

If the name is not displayed after the search, don't engage them,
regardless of the promised rate or services.
If the name appears, even if it's a new firm or not popular, it's legit.

For mutual funds, be sure to confirm if the following parties are
present for the fund you wish to invest in:

- the fund manager
- custodian bank
- trustees
- SEC

Note that having an app or being popular is not a criterion for knowing a legitimate firm.

Let's be well-guided.

Take note of the following before engaging a fund manager/stockbroker for any service

check the name using this link https://sec.gov.ng/cmos/

If the name is not displayed after the search, don't engage them,
regardless of the promised rate or services.
If the name appears, even if it's a new firm or not popular, it's legit.

For mutual funds, be sure to confirm if the following parties are
present for the fund you wish to invest in:

- the fund manager
- custodian bank
- trustees
- SEC

Note that having an app or being popular is not a criterion for knowing a legitimate firm.

Let's be well-guided.

onuku:
How genuine is it?

Genuine, and others most likely will follow. Stanbic CP just closed two days ago.

Be in touch with First Ally Assetmanagement for first hand info on CPs.

A new Bride - First Ally Asset Management

Automate your savings at 18%
Invest like a pro in MMF and Tbills all in one app
A customer experience at top-notch
and more.

Talk to me to start ... or click the 2nd link on my signature and download the app. Use SA-EMMA as referral code

A new Bride - First Ally Asset Management

Automate your savings at 18%
Invest like a pro in MMF and Tbills all in one app
A customer experience at top-notch
and more.

Talk to me to start ... or click the 2nd link on my signature and download the app. Use SA-EMMA as referral code

Pierce008:
Thank you. I appreciate your feedback.

How can I request for this customer update form, via email or there's a another channel for this?

Send a mail to customer care to request the form.

enque:
I think any request for KYC changes has to be sent via email.
Not sure you can update via the app.


cc.. Emmasoft

@Pierce008, please note that once an account has been opened, any changes you are going to make has to be done via the customer update form especially if the changes involve Name, Phone number, Bank account, or any similar fields.

Don't be scared to fund your account so long as your e-account number has been sent, nothing to worry about. Fund your account and then request for customer update form, with the form, you can change whatever you wish to change.

Munny30:
PLEASE WHICH IS THE BEST NAIRA MONEY MARKET MUTUAL FUND BASED ON RATES
;

Currently, the MMF rate ranges from 19% to about 23% within the industry.
You can go with Norrenberger at 22.33%

Find attached the account opening form for Norrenberger MMF.

Get in touch if you need details.

olig:
Please, has any other bank credited too?
What of Fidelity, First Bank?

Banks that have credited:

GTCO
Zenith
Fidelity
FCMB
Access
UBA

Bank yet to credit:

First Bank
Stanbic
Sterling Bank

Rufex07:
Please, is there any update on the last IPO of GTB shares allocation?

GTCO shares already credited to investor's cscs account. Ask your stockbroker to send you your latest cscs statement to confirm yours.

Please note that it will not be there if you didn't fill in your cscs number and CHN during your subscription.

In that case, you must contact Datamax Registrars with your cscs statement to get your shares credited into your cscs account.

Oyetunde49:
Please what’s the proper way to fund a MMF account. I funded mine yesterday night but I was not credited.

For most fund managers, accounts funded before noon have same-day value and earn interest. If funded after noon, or weekend it will reflect and earn interest the next business day

Palomadove:
I have been experiencing difficulty uploading all the documents. The sizes are below 100kb. I just keep getting long codes of error message. I have sent mail to stanbic ibtc mutual fund customer care since monday but no response. Is there any help you can offer?

If it has already been confirmed that the files are not too large, you may want to check your network. Submitting the form requires very good connectivity. You can even try at odd times when there is little traffic.

Alternatively, chat me up

Youngzedd:
Stanbic IBTC Assets Management need to do better with the utility bill KYC.

Why will they insist on an electricity bill bearing your name when bills are on the landlord's name?

Even banks don't do this. They have the BVN, NIN, phone number, and bank details, yet they are strict about the name on the utility bill.

I wonder who is in charge of the KYC.

There are alternatives to utility bills that bear your name. Your NIN or bank account statement can be used in place of utility bills. Any government-issued ID that has your address will do.

Jerrygotswagg:
thank you . How do I go about it and can I invest for just 1 year ?

@Jerrygotswagg, the process is straightforward. Click the first link on my signature, scroll to money market fund and click Buy Now and complete the online form.

Requirements:

Govt issued ID card
Passport photo
Utility bill that bears your name
Alternatively, you can use your NIN slip or the front page of your bank account statement in place of a utility bill that bears your name.
Please note that if you are in the diaspora, you have to use your Nigerian details to make the registration seamless to avoid notarization of documents, which could make the process linger.

For the tenor of investment, it's very flexible. It can be as short as 30 days or as long as you wish.
You can also reach out to me if you need further guidance on how to come on board.

Chuksteve:
Hello fellow nairalanders.

I want to invest in Stanbic IBTC Money Market Fund.

Does depositing money in Stanbic IBTC Money Market Fund account with UBA mean one has initiated the investment?

Or do I need to select one of the Funds. Eg, Stanbic IBTC Nigeria Equity Fund, Stanbic IBTC Balanced Fund, etc

Once money is deposited in the product collection account ie, the UBA for the MMF, it means automatic investment; you don't need to do anything else.

However, using the new platform, which is Blunest, if money is deposited into your wallet account, you will still need to login and withdraw the money into your MMF account. So, transferring money into your wallet is not an automatic investment, unlike when it's deposited into the collection account.

Naturalista:
Hello all, Please I would like to open a money market mutual funds account but the name on my NIN is different from my bank account name.Would this pose as a problem?

@Naturalista, Yes it will pose a problem. You will need to regularize the name on both NIN and bank account because of BVN. The usual practice is that the name on your ID - NIN should correspond with your bank account name with a BVN attached to the same name.

Solution: Go to your bank and change your name to the name you wish to bear going forward, or get a government-issued ID bearing the name you wish to use for your bank account. It's easy, especially if the name change is a result of marriage. Just present the necessary proofs, and it will be done.

I hope this helps. You can reach out if you need more clarity or guide.