Emmasoft's Posts

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Investment › Re: Mutual Funds by emmasoft(m): 11:17am On Nov 16, 2019

ijeshaboy:
how do one get the account number

Name: FIRST TRUSTEESSIBTC/MONE MKT
Acct Number: 9202476223
Bank : Stanbi IBTC

Investment › Re: Mutual Funds by emmasoft(m): 11:14am On Nov 16, 2019

Franky826:
Those who are using FBN please how do you get your daily rates? The site I have doesn't update daily rates it updates in like 3-4 days and it makes it extremely difficult to do correct calculations.

Also please what the average current rates now since the treasury bills issues? Help, anyone please.

Emmasoft Enque boyhood

https://fbnquest.com/asset-management.

Investment › Re: Mutual Funds by emmasoft(m): 10:29pm On Nov 15, 2019

ijeshaboy:
I did online recharge of 800k since yesterday but it hasnt reflect, i was told it takes like 2business day, how true is that.

If it's Stanbic. MMF and you funded your account through your card. It's true. To have same day value do a bank transfer before 12noon on a business day.

2 Likes

Investment › Re: Mutual Funds by emmasoft(m): 6:37pm On Nov 14, 2019

Franky826:
So just when I decided to join the train and invest federal government crashed treasury bills rates to single digits. I know MMF also invests in treasury bills and this entails the MMF interest rates will also fall correspondingly. Or am I missing something?

Where are the pros? Please did I miss something?

You are right. mmf basically means investing in Tbills with funds pulled together and invested by fund managers. They even use 91 days TBills rate as yardstick for returns. That not withstanding TBills is still better than fixed deposit in banks. You can also do other types of funds apart from mmf. We have vgif managed by investment one. fif managed by fbn, bf managed by ucap and others. Note: returns on these are not usually quarterly and the risk a little higher than that of mmf definitely with higher risk expect higher returns.
However, don't be scared from investing. All over the world investments windows are always in circles - bulls and bears, highs and lows, weak and strong etc. Even in Agriculture there is a period of bumper harvest and poor harvest likewise in business there is good times and bad times in all the farmer still farms and the businessman still do business. So during low rates investors will still invest as well as during high rates the difference is that you change strategies at each different seasons to optimize returns. This period will soon pass. It's this up and down that makes experienced investors to grow strong and very confident.
Lastly if you can take higher risk. The stock market bull just started you can go in and make some quick cash- This is not recommendation. Do you due diligence all decisions are 100% yours. The hustle continues!!

11 Likes

Investment › Re: Mutual Funds by emmasoft(m): 10:58am On Nov 13, 2019

Umarzy:
Hello house, i was trying to withdraw a particular amount from my Stanbic IBTC MMF. The system declines the amount requested for and says '' The Minimum N5000 must be left in the account following a redemption''. Please, what does this implies?

You are required to leave N5,000 which is minimum balance except you opt for account liquidation/closure

Investment › Re: Mutual Funds by emmasoft(m): 10:32pm On Nov 11, 2019

isaacosas01:
So I got my e-account number made my first investment today.

To our more experience folks.

The confirmed gist I got from reading the thread was that interest are compounded to the capital quarterly. Someone also now said it is now compounded daily.

I want to know which it is?

So I can calculate my effective interest rate.

For Stanbic MMF, interest is earned daily but compounding/reinvesting is done randomly using their own system. You can call them for more explanation of their system. All other mmf managers compound daily earned interest quarterly.

Investment › Re: Mutual Funds by emmasoft(m): 6:21pm On Nov 11, 2019

Psychodavidovic:
Has anybody here changed redemption account for his mmf on stanbic ?

If yes, how did you go about it.

Send a mail to them making your request known. An update form will be sent to you. Complete as directed with d old and new acct details. Scan back to them. It takes 5 working days max. The change will be effected. NB your signature must tally with what they have on their system.

Investment › Re: Mutual Funds by emmasoft(m): 6:13pm On Nov 11, 2019

Psychodavidovic:
Has anybody here changed redemption account for his mmf on stanbic ?

If yes, how did you go about it.

Investment › Re: Mutual Funds by emmasoft(m): 7:46pm On Nov 10, 2019

baroun04:
Please which website do you use to find daily rates for MMF for stanbic?

To get daily rate of MMF in Stanbic, login to your Acct online and click on prices you will get d rate of MMF as well as prices of other funds managed by them

Investment › Re: Mutual Funds by emmasoft(m): 9:01am On Nov 06, 2019

Franky826:
Successfully opened fbn MMF account via email and got my e-account already barely 48 hours.

It feels good I'll be joining the family soon.

Thanks to everyone that helped.

Emmasoft enque everyone

You are welcome! I wish you smooth investment journey

1 Like

Investment › Re: Mutual Funds by emmasoft(m): 7:39am On Oct 29, 2019

Bobbybob:
Im just coming across this and I'm interested. I have some enquiries for anyone kind enough to answer.
What is the minimum you are allowed to invest and minimum time before you can cancel your investments?
Also, i hear its very safe. But can someone give me an idea of the percentage of profit(averagely) that I'm expected to make?

The minimum amount varies bw 1k to 5k depending on the MMF manager you decide to go with. Minimum time is 30 days. However, if it becomes absolutely necessary that you must withdraw your cash before 30 days, you pay penalty which is 20% of your accrued Interest. Averagely rates revolve around 12% currently. PM me if you wish to go with Investment One as your fund manager. The minimum to start is 1k

1 Like

Investment › Re: Mutual Funds by emmasoft(m): 11:17am On Oct 28, 2019

sgtponzihater1:
I subscribed in Stanbic MMF since Friday, and its yet to reflect. Any help?

If subscription was done after 12 noon, it will reflect at COB today because any fund received after 12 noon has next business day as value date,

Investment › Re: Treasury Bills In Nigeria by emmasoft(m): 7:09pm On Oct 21, 2019

Mekanus:
Can I still buy treasury bills now? I haven't done it before.

You can still buy but that will be from the secondary market. If you want to buy from the primary market that will be by next week. Latest by Tuesday next week go to your bank and apply for Tbills from the primary market. You need a minimum of 100k if you bank with IBTC to buy Tbills.

5 Likes 1 Share

Investment › Re: Treasury Bills In Nigeria by emmasoft(m): 7:56pm On Oct 17, 2019

Cheffy911:
Please I need clarification,
I wish to invest in tbills with 500k, will it be possible in the primary market ? If so, how do I go about it.

It's very possible. But since the one for this week is concluded already, another opportunity will come in two weeks. Precisely go to your bank latest by 29th of Oct. and apply by completing the primary market auction form. Most of the fellows here uses FBN and IBTC banks

Investment › Re: Mutual Funds by emmasoft(m): 7:15pm On Oct 17, 2019

igbizen:
I just opened a VDF account now. And I have a don account in GTB. What should I do next? All KYC uploaded already.

\

Your account details will be sent to you shortly after the compliance team gone through d form and kyc documents you uploaded.

1 Like

Investment › Re: Treasury Bills In Nigeria by emmasoft(m): 6:18pm On Oct 17, 2019

dexla:
So I asked my bank to invest 650k into tbills and I just got a debit alert of N615,168.59. Pls can someone explain when I'll get mi interest and why the whole 650k wasn't deducted.

That is the beauty of Tbills investment. chop interest and wait for principal not wait to chop interest and principal.

Investment › Re: Treasury Bills In Nigeria by emmasoft(m): 5:28pm On Oct 14, 2019

Hallenjay:
pls who s doing this tbill via mail and he's using stanbic ibtc
I need ur help. I'm tired of going to d bank and the option of mail is the only one left and even after filling the indeminity form, I still can't purchase tbills via mail. The primary auction is Wednesday ,I need to get this done before Wednesday and I can't make it to the bank as am far away

Send a mail to your account officer and you will be sorted. When you login to your ibtc bank account online the email address of your account officer is there.

Investment › Re: Treasury Bills In Nigeria by emmasoft(m): 10:40am On Oct 14, 2019

Akannigbabe:
How do someone invest in primary market

Walk into any branch of bank where your account is domicile, ask for Tbills primary market auction form from the customer care unit . You will be attended to. Note if you want to participate in this week primary auction you have to do that latest by tomorrow morning. Otherwise you wait for another two weeks. Tbills primary auction is done fortnightly.

6 Likes

Investment › Re: Mutual Funds by emmasoft(m): 8:36am On Oct 14, 2019

ernie4life:
Really! I can't believe you are saying this.

First the rates published by FMAN is directly from the fund managers, they(fund manager) send rates daily to fman to publish on their(fman) site and newspaper.

If you follow fman closely you will notice that some fund managers have N/A, that's because for some reasons they didn't send for that day.

If you say what fman published is wrong that's like saying the fund manager sent a wrong rate to them.

ernie4life don't get me wrong I'm not saying fman site data are wrong. I said they are not being updated regularly from the managers (Not current most times) . Fund managers rates are more current - normally a day old or same day. For whatever reasons data from fund managers may not get to fman and so they make do with what they have as such there will be disparity between them and the fund managers' data.. Like you rightly said even at the time they have N/A on some funds if you get to the site of those fund managers you will get the current rate.

Investment › Re: Mutual Funds by emmasoft(m): 8:28pm On Oct 13, 2019

ernie4life:
The last working day for third quarter (Q3) is 27 September, so check fman website for rates on the 27th September, let me know when you do.

From my experience fman website is usually not updated regularly. Most of the rates there are not current. To get the current rates the websites of the different fund managers are more reliable and it will show the previous business day rate. I have followed closely with Chapel Hill at a time I have to call their customer care when I saw the disparity in rates. in fman site it's averagely 13% plus while their website say otherwise. in fact their website has always revolved around 11% and of recent went down to 10%+ same goes for others. The table you have up there may not actually be the true reflection of the different funds and their managers

2 Likes

Investment › Re: Mutual Funds by emmasoft(m): 2:20pm On Oct 07, 2019

Tolarneey:
Good afternoon.... please pals I top up my stanbic mutual account yesterday....till now it hasn't be reflected in my account

If you did internet banking transfer, the value date will be today. it will reflect after close of business today. If you pay through your card it will take
two business days before it takes effect.

Investment › Re: Mutual Funds by emmasoft(m): 4:52pm On Oct 03, 2019

Emmaesty:
Hello guys,

Does anyone here use United Capital MMF?

I started funding my mmf account in Aug 2019 and this is the first week in October where I think I should receive my interest but I have not seen anything.

Should I be worried?

Investment › Re: Mutual Funds by emmasoft(m): 12:06pm On Oct 03, 2019

rOsy247:
I made deposit since yesterday morning via ibtc website, it has not yet reflected in my account till now. Has anyone experienced this?

If you use your card as means of deposit. you get value after 2 business days.

Investment › Re: Mutual Funds by emmasoft(m): 5:29pm On Oct 01, 2019

Mukah1234:
What's the minimum balance of this account

$1,000.00

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