₦airaland Forum

Mrajah231:
This stanbic mmf customer care takes time to respond to mails. Please how long does it take when someone redeem funds

If you place redemption request before 12 noon you get your money same day

cdor777:
I need clarity on the interest rate for all of the above, is it monthly or yearly?

All stated rates for govt regulated investments like Mutual funds are per annum (yearly),
but for MMF, it's prorated daily such that your interest accrued daily and will either be reinvested to your capital at the end of the month/quarter or it's paid to your bank account depending on what you opt for at the point of registration.

freemindcity:
Please what is the tenor for the money market

Money market fund tenor is determined by the investor.
Unlike Tbills or Bonds that are tenor-based, MMF is not such that your investment is as long as you want it to remain. It can be as short as 30 days or as long as you wish. Some investors use MMF as an emergency fund, personal pension, target savings etc.

MMF has easy entry and exit. You can start it at any time and also withdraw your money at any time.
Chat me up for a voice note that explains more.

dapix:
Your rates are low, when Meristem MMF is giving 18.94% gross

Sincerely, I didn't put my post out here for competition. However, when it comes to mutual funds before you compare rates to know the one higher than the others, check the management fees.

Join the Investment Train

- Four months gone in 2024.
- Rates of debt instruments are looking good, reducing negative real returns
- The stock market is not doing badly at all.
Where is your money kept? or where is your money working?

Your money should not be left idle let your money work for you. Send your money on an errand!

You can invest in money market fund, fixed income fund, and the stock market to benefit
from all the high rates and the good market performance so far.

click the links on my signature to open an investment account for free or chat me up for guidance
on how you can send your money on errands.
currently, we have:
Money market funds
- Stanbic MMF: 17.64% net click the first link on my signature to start
- Norrenberger MMF: 18.21% goss chat me up to start

- Norrenberger Dollar Fund: 9.41% gross chat me up to start.

Fixed income fund
SfS capital fixed income fund: 14.52% net click the second link on my signature to start

Stocks
Investment One stockbrokers click the third link on my signature to start

With 5,000 you can start any of the investments.

Note: if you wish to invest in FGN Bonds and don't have a large capital, you can still benefit.
Fixed income fund is your best bet.

Join the Investment Train

- Four months gone in 2024.
- Rates of debt instruments are looking good, reducing negative real returns
- The stock market is not doing badly at all.
Where is your money kept? or where is your money working?

Your money should not be left idle let your money work for you. Send your money on an errand!

You can invest in money market fund, fixed income fund, and the stock market to benefit
from all the high rates and the good market performance so far.

click the links on my signature to open an investment account for free or chat me up for guidance
on how you can send your money on errands.
currently, we have:
Money market funds
- Stanbic MMF: 17.64% net click the first link on my signature to start
- Norrenberger MMF: 18.21% goss chat me up to start

- Norrenberger Dollar Fund: 9.41% gross chat me up to start.

Fixed income fund
SfS capital fixed income fund: 14.52% net click the second link on my signature to start

Stocks
Investment One stockbrokers click the third link on my signature to start

With 5,000 you can start any of the investments.

Note: if you wish to invest in FGN Bonds and don't have a large capital, you can still benefit.
Fixed income fund is your best bet.

Join the Investment Train

- Four months gone in 2024.
- Rates of debt instruments are looking good, reducing negative real returns
- The stock market is not doing badly at all.
Where is your money kept? or where is your money working?

Your money should not be left idle let your money work for you. Send your money on an errand!

You can invest in money market fund, fixed income fund, and the stock market to benefit
from all the high rates and the good market performance so far.

click the links on my signature to open an investment account for free or chat me up for guidance
on how you can send your money on errands.
currently, we have:
Money market funds
- Stanbic MMF: 17.64% net click the first link on my signature to start
- Norrenberger MMF: 18.21% goss chat me up to start
- Norrenberger Dollar Fund: 9.41% gross chat me up to start.

Fixed income fund
SFS capital fixed income fund: 14.52% net click the second link on my signature to start

Stocks
Investment One stockbrokers click the third link on my signature to start

With 5,000 you can start any of the investments.

Note: if you wish to invest in FGN Bonds and don't have a large capital, you can still benefit.
Fixed income fund is your best bet.

Ellaforch:
Good morning house,please which other investment can I do.i am already into stanbic mmf,earning greatly from that. Looking for another investment to do please. Treasury bills how does it work thank you

You can do fixed income fund with SFS Capital. It's an indirect way to invest in the federal govt bonds.
you can chat me with details on my signature

toyeoye:
Quick question sir.
A competitors rate is 14.75% and they say their rates are net after all charges have been removed and better when compared with the 17.54%.
Is the Stanbic rate at 17.54% net of all charges?
Thanks

The rate displayed for stanbic MMF is net.

Mrajah231:
Thanks bro. One more thing can I change the bank I want to be receiving my quarterly interest to a new one?

Sure, you can. Send a mail to customer care stating your request. Do that before the next payment date.

Mrajah231:
Hello sir, please I want to ask a question. My balance is not what is meant to be there. I saw additional 100k in my mmf. Is it that it’s an error because all this is now confusing me

@Mrajah231, it's normal no issues and no errors.
Please not that your balance at any point in time is always your capital plus your accrued interest but your accrued interest doesn't earn interest.
By the end of every month if you opted for interest reinvestment during your registration, the accrued interest will be added to your capital and will start to earn interest ie Compounding.
Right now what has just happened is that your accrued interest has been added to your capital. Later today or tomorrow check again you see that your accrued interest will be zero or the interest of just one day depending on the time you checked.

NB: this will always happen at the end/beginning of every month.

NL1960:
I just checked their website. It is showing 17.54%.

Yes, you are very correct 17.54% is the current rate

ytdivine:
Just received email from Stanbic Mutual fund that the interest is 17.27%. Encouraging me to invest more.
Please @Emmasoft, can I make deposit using my bank app. Before now, my deposit usually be in bank.
Please I need advice on this

Of course you can make deposit with your bank app or Internet banking. Just make sure you write your e account number as the description or narration.
The rate is higher now I guess you got market summary of last week sent to your email.

Objectivist04:
Thanks for the instruction
I think the position of my holding is known by all the parties involved

My believe is that the outstanding 14140 has been since dematerialized, the question now is what is the easiest way to link it with my account.
Just look at this mail from Meristern and figure it out
Note that the 3905 they said is not yet loeged with my CSCS is what I have already in my Morgan account, while the one they said has been lodged is the one in contention here.

Sounds like an irony keep kind of

@objectivist04 I know you are hurt but try and cool down so that you can get the issue resolved. If you read all my posts in response to your different posts and add to what Mercy just posted you will observe that just one thing you need to do and it's the same whether in Morgan or any other firm. The process of inter-member transfer from a dead house to an operating house is the same anywhere. There is nothing like the easiest way. Just follow my post with the one Mercy posted and you will be fine. Don't bother about your holdings, the issue here is that of transfer and not about holdings. Your holdings is intact. Just follow the steps stated with your cscs statement from cscs plc and you will be fine. I can relate to your experience but don't make matters worse. It's painful looking at the time you started the process, but the truth is that no matter how far you have gone in the wrong direction, if you are to get to your desired destination you have to turn to the right direction even if it means starting all over again. All you need now is to send those requirements and leave the rest for Morgan to handle.

If you decide to use another house right now, one more process will be added because you have to open an account.

It's well.

Batman2412:
Attached photo is the reason I asked.

Oh. I'm talking about stanbic money market fund not ucap. What you attached is
a product from another firm not Stanbic.

For Stanbic MMF, we have Tier 3 and Tier1 as already stated. You will need to get in touch with Ucap customer care to get clarity.

Objectivist04:
I attached a hand written letter addressed to cscs informing them to move my account from TGL to MC to the documents I sent for the intermember , I also paid a fee of 2k as directed

Modified
I just took another look at the later I wrote and it about obtaining a CSCS account from Transglobe
So my brother l have done everything required to move my shares, and I have been on this since 2022 , this people kept frustrating me, all. My efforts to sell off that stock during the bull run came to nothing.
I will seek for a redress

HERE IS THE STANDARD REQUIREMENTS OF MOVING STOCKS FROM DEAD/INACTIVE FIRM


Inactive / dead house

· A letter addressed to managing Director CSCS

· Consent letter addressed to the resident house (former house)

· CSCS transfer of stock form

· CSCS statement

· Means of identification

· Utility bill not more 3 months

· Banker’s confirmation addressed to CSCS

· Bio-metric with CSCS:NOTE for those leaving at the remote area and can’t access CSCS office can notarize their mean of identification

· Dividend stub or contract note

· Direct Cash Settlement Form (DCS)

· Admin fee of N5,075

Objectivist04:
I attached a hand written letter addressed to cscs informing them to move my account from TGL to MC to the documents I sent for the intermember , I also paid a fee of 2k as directed

I know, that letter serves a different purpose. The fee you paid is for Morgan services.

Please note I'm talking as per professional things o. I don't work for Morgan.

Most people here know I'm with Investment One when it comes to stockbroking.

[quote author=Objectivist04 post=129664359][/quote]No, it's different. Mind you I'm talking from experience. This is what I do almost every other day.

The letter you wrote is different from your cscs statement. In the capital market assumption is not used anywhere there must be clear evidence. I'm telling you that the absence of that cscs statement is the genesis of the issues.
To get the cscs statement you request from the CSCS directly, you don't need to move an inch, send a mail to cscs requesting your statement, cscs will send you a first bank account to pay the fee. I think is about N250 or so could be more not up to N500, Once you pay send the evidence and you get the cscs statement immediately.

Objectivist04:
Pls I need to report Morgan capital, somebody should help me on how to go about it.

This is what happened.
I opened account with Morgan capital, after the account opening I requested to move my shares from a dead house to my new account.

They asked me to apply for intermember transfer, the forms and other requirements were sent to me via email.

I printed out the forms, filled them, write the letter that was addressed CSCS, went to the bank fto get my account confirmation , attached my proof of ownership and sent them through LIBRA courier services.

A staff called me and informed me that they couldn't find any share in my CSCS account and that he suspects that my shares have been sold. I told him that my shares are not sold, that I do receive my dividend as at when due ..

Then he suggested that we go for Demat, he sent me the forms which I printed out but he told me to only append my signatures where necessary attach my passport and send,

I did as he said and seny the forms through ifex courier

Weeks letter after constant call from me, he informed me that my shares have been successfully linked to my account. He said that he has 3905 units of Fbnh with him. I told him that all the shares were not linked as my total holding is 18045 , the man now directed me to Meristern registrar.

I called Meristern and they told me that is all they can find, I went ahead to show them where they once sent me my total holding on enquiry and they said let them do more search. After disturbing them with calls, they told me that they have seen another 3905, and that l need to do another Demat so it can be linked,

I was so angry and frustrated, my broker asked me to demand for my transaction history from them which I did, lol and behold the response I got from them shows that I have outstanding 18045 units of Fbnh.

I was confused what is the problem, since Meristern have confirmed my holding, why not do the needful , infact they refuse picking my calls because I was calling everyday out of desperation as Fbnh price was galloping and I need to sell and at least make a little profit from 17 years old investment.

Then what broke the camel's back was earlier this week when my broker sent me a message via WhatsApp, informing me that my remaining shares (14140) are with Transglobe.

Well, the information sounds stupid to me because that shouldn't be a news , since I informed him earlier that my former broker is Transglobe, a dead house.

To make things even worse, the man told me that I did not inform him about Transglobe and that if I had done that, he wouldnt have done global search but rather asked for my CSCS acc statement from Transglobe and then go for intermember transfer to move my account to Morgan capital.

I was so shocked by the above statement because (1) I informed him about having my stock with Transglobe
(2). I did intermember transfer which he himself recommend to me via email.
(3) he never spoke anything to me about global search, so I was surprised when he said he did global search.

I started flooding his WhatsApp with proofs that he was aware that Transglobe was my former broker, I also posted the forms I filled for my intermember which he claimed I didn't do.
After the evidence becomes overwhelming, dude stopped responding to me, nor pick my calls.

I have to reach out to one of his colleagues though from different department who volunteered to help me and move my shares to Morgan.

The man sent me requirements after going through it , l was fuming with rage because he simply sent me back to do what l have already done before, like, intermember, KYC, utility bill, banker's account confirmation etc.

Honestly I no do again, Morgan have to compensate me for wasting my time and money since 2022.
Pls I need everyone's advice here, I am ready to answer any question , I can also post some of my proofs here if the need be.

I regret going for a faraway broker while I have many of them around, it is just because of how you guys talk about them on this forum.

Pls I need a professional advice
Thanks

@Objectivist04 I read carefully your post. I think there was just one document that was missing in the first place which perhaps is causing the whole trouble. The document is the cscs statement from the dead house ie Transglobe that was not presented at the beginning or maybe you were not told that it's one of the requirements for moving stocks from a dead house to an operating firm. The document normally is gotten from CSCS Plc for a fee. Once it's attached with the other documents you mentioned the process is seamless and there will not even be a need for a global search. Of course, the damat process is in order since the quantity in the dead house is less than your actual holdings. If the process was done right the first time, the demat will be done without you even contacting Meristem.

The way forward is for you to just bear, see it as one of those ugly situations that can come up while trying to get or offer services, and try to iron out things with Morgan and do the process again, this time around get the cscs from Transglobe as part of the documents to submit. Morgan on its part can decide to help to see what they can do to reduce any charges you are supposed to pay. Both parties just have to come to a compromise and settle amicably. If you decide to go to another house you will be required to do the same thing all over again.

Batman2412:
What about tier 2?

There is nothing like Tier 2.

Mrajah231:
Hello sir…please what’s the maximum amount I can have or put in my mmf

If your account is Tier 3, you don't have a limit as to the maximum amount. It's only a Tier 1 account that has a maximum limit of 200k.

Both Tier 3 and Tier 1 accounts have a minimum deposit of 5k ie you can't invest below 5k, except if it's a reinvestment of accrued interest.

Don't forget to use my link when opening an account to help my ministry.

toyeoye:
Thank you for the feedback. I funded right after noon but didn't include my e-account in the description. How can I resolve this so they know it's meant for my account please.

Since the e-account was not stated, the tracing will have to be done manually, to aid the process, send your evidence of payment to the customer care email.

However, it's also possible that it could be traced without you sending it. To be double sure after sending, call them. Get your e-account number handy because you may be asked before calling.

toyeoye:
Good evening sir. I need your guidance please. I funded my money market fund account for the first time today through bank transfer but value has not reflected on my dashboard. Is there any step I need to take or I wait until it reflects?

Thanks

If you funded after noon and wrote your e-account number as the description or narration, there are no issues, it's normal. By tomorrow it will be reflected in your account.

Note: To have same-day value and earn interest, you must fund your account before noon on any working day otherwise your capital will reflect and you start earning from the next business day.

MARKETJJC:
My oga, are you saying that anyone that buys on that qualification date will receive dividend? Please does this T+3days of a thing apply to dividend of a thing?

Thank you

Just as @KarlTom mentioned. Check any corporate action of companies, you will notice this statement always "... Dividend will be paid to shareholders whose names appear in the Register of Members as at the close of business on the qualification date". Emphasis is on close of business.

However, note that the closure date ie the date the stock is marked down for dividend/bonus happens before trade starts on that day

T+3 rule applies concerning settlement\payemnt during trade on the NGX.

Harddiskng:
Just check and discovered Stanbic Balance Fund has done an impressive return of 116.99% in 5 years.

Now i am torn between (1) Stanbic IBTC Ethical Fund (1) Stanbic IBTC Imaan Fund & (3) Stanbic IBTC Balanced Fund

@emmasoft which of the 3 would you recommend for a 5 year investment

@Harddiskng, the first thing to consider when choosing a mutual fund to invest in is your risk tolerance. The three mentioned mutual funds are very similar. An underlying asset common to them is equities. That means they are riskier compared to MMF and nothing is guaranteed - capital or returns. So any of them could serve the purpose if you are willing to take the risk involved.

Harddiskng:
Please can i get the link to view stanbic MMF current rates? I can seen to find it anywhere whereas FBNQuest MMF rates are readily available

(It is just me or FBNQuest MMF seems far more competitive than Stanbic’s MMF

There is no special link to view rates in Stanbic MMF.
You can use either web portal or app whichever is convenient.
On the web portal, as you login to your account, click on funds, rates of the different products will be displayed. For the app, click on create account instead of sign in when you launch it, rates will be displayed.

Kwibaba:
When is the closure date for zenith bank? Will one still get dividend if one purchases the shares tomorrow 24th April ?

Yes, you will get dividend. Qualification date is 25th of April and closure date is 26th April.

DAramis:
Boss,

I will chat you up on this later. Might look into it hopefully.

No qualms. Looking forward to your chat.

Tranquility2345:
If safety of capital is your motivation for investing, why not just keep your money in the bank? 🤔

@Tranquility2345 the emphasis in my post is the word first. I'm not saying safety of capital should be the only motivation for investing but it should be the first motivation and not returns... of course returns is a motivation but should not be preferred over safety of capital.

hias2012:
For those other funds there is more to them than can be understood. A number of times I tried it I regretted my decision.

That is why it's always recommended that all prospective investors should do their DD before any form of investment and one should not invest in what you don't know how it works otherwise you will not know when to start, stay or move out and in most cases fingers get burnt.

Let not returns be the first motivation for investing but the safety of your capital.

vanvickie:
Hi. I looked up the FSDH ASSET MANAGEMENT, I noticed that Coral Balanced Funds is @ 27+%, which is higher than TB rate. I want to understand why it's not a better option to invest in it.

Ive read through all their products and it seems you can easily withdraw your funds (within 48hrs), so I'm trying to understand why it's not a better alternative...

Care to explain pls?

@vanvickie please note mutual funds are in three investment class - Low risk ie MMF, Medium risk e.g Fixed income fund and High risk example is Balance or equity funds.
Each of this funds performs based on the underlying assets. All of them are good investment depending on your risk tolerance level.

MMF the least risky has Tbills and CPs as the underlying assets with the 90 days Tbills rates as the bench market.
Fixed income has what MMF have plus the FGN BONDS as the underlying asset. The rate here is relatively stable compare to MMF that rates are valued daily.

Balance fund like the example you observed is under the high risk with the underlying assets having a mixture of debt and equities and most times plus some real estate assets.
A major characteristics of the this type of mutual fund is that it's very volatile both the capital and interest can be lost, nothing is guaranteed hence it follow the basic principle of the higher the risk the the higher the returns.
Currently Balance and equity funds are doing well because the stock market is relatively doing well. If the market starts to perform otherwise over some certain period, the returns will drop.

As earlier noted, non of the funds are better option than the other your risk tolerance couple with some other factors will determine the one you should go for.
Don't forget: THE RETURN OF INVESTMENT IS TO BE CONSIDERED FIRST BEFORE THE RETURN ON INVESTMENT.

Tracyy122:
Abeg bros Emma, l at the bank to transfer from my DOM account into the Stanbic ibtc dollar fund and they are asking me if l have the swift code. They are saying that the money will not go through because l do not have an account with standard chartered bank. How do l proceed?

The information they need is in the mail sent to you when your account was opened. Check the account details for the dollar bank account.