₦airaland Forum

chufor:
Thanks so much, sir please could you throw more light on that bid price and bid offer?
Thanks in advance

Bid price: the price the fund managers will buy from you when your want to redeem some or all your holdings while offer price: is the price the fund managers will sell if you to invest in the fund.
If you are also calculating the value of your holdings it's the bid price you use not the offer price.

ie, if you have say 100k and you want to buy HF your holdings will be 100k/offer price if you are divesting
your value will be your holdings x Bid price

chufor:
Thanks sir but what is the current rate of Mmf and heritage fund?

From information on their website, MMF rate is 14.18% as 21st Feb 2019. Bid price for HF is N147.05 while offer price is N148.41 no rate displayed for HF

chufor:
Please I also asked this some weeks back but no response

The FBN Heritage Fund’s objective is to achieve superior returns over a long-term investment period. The fund is a multi-asset mutual fund suitable for investors with an appetite for earning greater rewards over a long-term period. The focus of this fund is therefore to invest in equities, bonds, money market instruments, realestate investments and other securities in the capital markets.

Although the FBN Heritage Fund has a medium risk profile, it typically offers high returns when compared to other mutual funds with a lower risk profile. The fund’s assets can be broadly broken down as follows:

• 20%-65% is invested in stocks



• 10%-25% is invested in bonds

• 10%-75% is invested in money market securities.
In summary, what it means is that FBN Heritage fund is a Mixed fund. ie the fund invests on equities money market instruments etc. What that means is that equity market has strong effect on the fund- negative or positive hence it's riskier compare to MMF. I actually started with them in 2007. There was a time the price fell to a little above N70 during the equity market crisis. So in a way there is element of equity in the fund. Just like any other mutual fund, the returns are not taxed. So if you are very risk adverse person to bother just go along with the MMF or TBills.

Beeps:
Is there any app for first bank money market fund?

Yes. it's called FBN EDGE

BlackChief01:
i will be retiring from my present job in the next 8years and I have about 3million Naira which I am thinking on investing on one of the MMF for the next 7years.

Some friends are suggest stock market that I have a better chance of doubling my fund, while some say I should go into agriculture. I am confused right now as I can't afford to loose this money.

Need all the advice I can get right now thanks

Don't put all your eggs in one basket except if it's God's basket. 3/4 in MMF and 1/4 in fundamentally sound dividend paying stock. you will be happier after 7yrs.

galaxy15:
Daily or monthly or annually

All rates are per annum. But MMF managers calculates it daily. That means using the IBTC Rate you have to divide 13.3% by 365 days to give you interest of one day it's what get accumulated for a quarter to be re-invested or paid as divided depending on your choice and the fund managers.

JEmma1:
I'm a new to stock can someone explain what this means.

Thanks

If you read carefully where that statement you made is extracted you will understand. However, what it means is that for every unit of united capital share you have you will get 30k if you hold it till the closure of their register. e,g if you own 1,000 units of united capital shares you get N300 gross and N270 less with holding tax.

skyangel:
Stanbic really impressed me yesterday. I redeemed fund at about 9am & got my account credited at about. 2.30pm

Though i have been getting same day credit, but usually between 6 to 8 pm

It's like that sometimes.

Beeps:
Pls does anyone Know first bank money market fund interest rate?

14.23% as at 18/02/19

onuku:
Bro,
I don't think so. The longer the tenor, the better, based on the law of compounding.

Dear Agbaletu,

I'm quite naive with this, but kindly clarify my thoughts.

I'm wondering, why put your money away for 1 year (364 days ) for 14.5% interest when you can put the same amount in the same investment (Treasury Bills( for 91 days with 10% interest that can be immediately re-ploughed in for another 10% (interest + capital) this giving a larger compound overall interest when that is done four times (91 * 4) rather than simply 364?

Remember everything is per annum and your interest for 364 days is also paid upfront as the case of 91 days. I hope you understand.

kayrukky:
Click on easy trade. You will need to contact customer care to set your account up on the app. .

As already said by Kayrukky, click on easy trade then click on register, you will need to have login with the details given to you by customer care and change the password before going to the app to have an easy registration process.
you can chat me if you don't mind. whatsapp 08181057319

hischoice:
Existing Abacus customers, how do you monitor your investment?

Or do you simply wait until month end to get account statement?

you can check your account online anytime you wish or download their app on your phone register with your account number and you are good to go

mfonox:
i don't know about other money market fund managers. but for AXA mansard. the accrued interest is only added as part of your capital after every quarter. not every month

That is how others operate except IBTC MMF

coolangel54:
Borrow or steal.

It's not only Nepa bill that can be used. water or waste bill. Any utility bill that has the address you provided on the account opening form. However, if you don't have any, they use your bank statement which of course will have your address. The last resort could be you use the Nepa bill of any family member or friend where you can be identified.
NB: The address you provided on the account opening must be the same of any utility bill you are providing

rOsy247:
Please what are the documents required to open money market fund with first bank and stanbic?

1 passport, Means of Identification, utility bill not older than 3 months

mikylon:
Please i need some financial advise.
which is more preferable, stashing money into money market or stashing into treasury bill. Which would guaranty high yield annually.

It pays to do both because you could have an emergency for cash. MMF allows withdrawal without penalty after 30 days but TB must wait till maturity

emmasoft:
Good to hear and Congrats! to FBNQuest and Meristem. However it's the interest/dividend that enters the unit holders bank account that really matter at the end of the day.

Good to hear and Congrats! to FBNQuest and Meristem. However it's the interest/dividend that enters the unit holders bank account that really matter at the end of the day.

Dfavouredone:
FBNQuest received the ‘Equity Fund of the Year’ and ‘Bond Fund of the Year’ awards, while Meristem received the Stockbroker of the Year award.

https://punchng.com/fbnquest-meristem-get-recognition-at-finance-awards/

Good to hear and Congrats! to FBNQuest and Meristem. However it's the interest/dividend that enters the unit holders bank account that really matter at the end of the day.

pepe1:
Hello everyone. Pls what is the convenient way to register and pay for AXA Mansard mmf and Stanbic mmf.

Thanks

For AXA Mansard register online with your KYC attached and you are good to go. For Stanbic download form, complete and scan to them.
For payment you can transfer fund to their account and send evidence of payment for Mansard while you upload evidence of Payment from your account online for Stanbic

Ias1:
you mean FBNQuest charges anytime we use the app or when we use it to top up?

top up Because third part is involved (digital payment platforms)

ovenbake:
Quick question biko. How do you do subsequent credits to the fbn mutual funds? Is there an app on playstore to manage and see your funds as well as credit additional funds? Thanks

Yes there is FBN EDGE app download it. however you pay charges if you are using it. what i do is: simply transfer to the given account number and send them mail showing evidence of fund transfer and the will credit your fund account. They have different accounts for their different funds. send mail to them requesting for the account of the fund you are interested in

austine4real:
pls sir I want to open investment one I account but don't know which to choose I'm seeing abacus ,HIV vgfi etc pls put me through

Choose Abacus. at investment one their money market fund is called Abacus Money Market Fund hence we have the abbreviation AMMF

Yem0350:
Which of the MMF?

Depositing money for weeks and not reflecting in your account is not normal for any of the MMF. I will advice you call their customer care for instant response as to what the issue is. Make sure your evidence of deposit/transfer is intact.

DEBUU:
Pls I want to invest 300k in TB with First bank, how do go about it this is my first time.
I need some tips pls

Walk into First bank since you have account with them. Meet the customercare/your account officer and tell them your mission. you will be well guided.

lilsyd:
Please who uses UNITED CAPITAL and what are they like please? Regards.

They are ok. For me their customer care response is better than others I have used. you can chat with them online and get what you want real time.MMF interst is 12%+
https://www.unitedcapitalplcgroup.com/