₦airaland Forum

EquityM:
No deduction after top-up; the fund is based on bonds, if you top up, you are subscribing to a new bond, so if the price you purchase the bond for is lower, the next day will bring some red; however, if the price is higher, it will bring good earnings. Nevertheless, it does not affect your capital; once the price is up again, your capital will go up as well. The bond prices fluctuate; however, it pays much more earnings than MMF. There is also a peak period where you can make extra money. I'm still learning how it works.

Okay, thank you

EquityM:
Guys, An excellent investment is a fixed-income fund. My 300k+ is making significant gains. Having it alongside MMF is beneficial because it occasionally outperforms MMF's daily rate.

Good morning, this piqued my interest but that part about the deduction after topping up is a bit confusing. Could you give insight into that? Great work here

Donbrig:
Lol... No risk no success. But we all just have to be careful though, now that many Nigerians are embracing money market funds, we are also gonna see new asset managers emerging from different angles, and even those our traditional money collectors (OSUSU/ISUSU) will become asset managers and get their approval from SEC.

This is quite laughable really. So you think SEC just hands out approval to every tom and harry

EquityM:
We know equity is risky, right? However, there is another equity from CardinalStone, which the minimum is 100m, and it will be locked up for one year. Losing or gaining is on behalf of the investor. One should not bash anyone for trying to invest in whatever they like. Do you know how many MMFs I currently run?

You're missing the point but hey, enjoy. Have a good one. Cheers

EquityM:
Equity is a mutual fund; I have 8m+ there, so do you think I will put my money where I'm going to lose it? If he is willing to take the risk, why not? Everyone has a choice to make. Moreover, there is always a backup plan to withdraw your money if it doesn't suit him.

Equity is a Mutual Fund but not in the category as the likes that everyone are involved in here though, A mutual fund just means pooling money together, its the underlying assets that distinguish them. You should know there's the possibility of loosing your money in Equity Fund unlike a Money Market Fund where it's basically impossible, hence the usual term capital preservation, though good managers often break even long term for equities
See for yourself the features of both as outlined by Cardinal. What's my point? Mutual fund does not mean safe, what the fund is used for is the most important factor

Jerryblaq:
Nigeria is so bad that #1m is not enough to start up a business

Use it to learn a profitable tech skills

Please desist from giving people this type of advice

emmasoft:
You can increase the limit to 5m. If you want more than that, request for redemption form, complete and send back to them.
You don't need to be in the physical office for anything except if it's the most convenient for you.

Thank you very much sir

Good morning wonderful people, please can anyone confirm the max withdrawal limit for Stanbic. i always assumed the web portal allowed 5million and 1million for the app. i tried withdrawing and was unable to do above 1million on the web portal.

Do i have to visit a physical branch to use the withdrawal form?

Splendour99:
1tb hard drive available.

Where in Lagos is your location

Coolis:
Withdrawal shouldn't take more than 48hr for fund to reflect in one account. l just joined cowry, l haven't made withdrawal yet so can't say much about their withdrawal policy. Those that have been on cowry for long, make una answer bikonu

Redemption goes to your stash and It takes 24hrs from your stash to your bank account.

Donbrig:
It is your hard-earned money, no risk withdrawing your money at all, even if it is over a billion naira.. If you are withdrawing huge fund, you might have to give Stanbic about 2 to 3 working days to process your redemption.

The way Stanbic MMF rates dey dance skelewu nowadays is very confusing...

Just port to other fund managers with higher interest rates at the moment, but don't close or withdraw everthing from your Stanbic MMF fund, because table might turn in their favour tomorrow...

Thank you sir, I'm just wary of falling victim to the taxman. Laws like this especially at infancy in a clime like ours tend to have so many shortcomings and it's people without influence who often bear the brunt before it's finally fine-tuned

Are there risks initiating withdrawal for a large sum now, I want to move all my funds from Stanbic somewhere else but I'm trying to exercise caution, don't want trouble from nowhere

Jayce242:
It is news because they were only deducting for receiver. But from tomorrow, they will start deducting another 50 naira for sender, making a total of 100 naira stamp duty.

Stop spreading misinformation, what is wrong with you people? we know you do not like the country but you are just being mischievous.

THE SENDER NOW BEARS THE STAMP DUTY CHARGE, PREVIOUSLY, THIS CHARGE WAS DEDUCTED FROM THE BENEFICIARY/ RECEIVER. That's an excerpt from the mail sent by UBA

tosinman:
In contrast, I did a subscription top-up in the evening and it was credited this morning.
Please what could have happened?

It takes more time to give than to receive

There's always a lawyer (even the senior ones who should know better)who is available to take up a case, whether it lacks merit or not. It never ceases to amaze me

bassdow:
see eh, don't get discouraged just yet.

Even if others are giving you 18% while stanbic gives you 16%, hope you very much aware stanbic compounds on monthly basis vs others that doe so quarterly (every 3-months)

I am yet to run a test (which I intends doing soon) BUT the fact stanbic compounds monthly should fill up most of those gaps + those high rates ain't often steady. It's 21% today doesn't mean it would remain so tomorrow or the next.

I recall shared the idea of using at least 3 fund managers but most people argued I was wrong. Me wey be say I no sabi chop 1 soup for canteen (I must mix all the best soups into 1 plate), you expect me to follow just one fund manager.

I have run it(although i should also add that varying rates makes it tricky and not particularly a dependable result) but based on a range of prevailing rates, those quarterly compounding trumps Stanbics monthly compounding. Like you rightly pointed out, the best way to take advantage is to have multiple fund managers

emmasoft:
I have always been an advocate of more than one fund manager, and as you know, MMFs are daily valued, so enjoy it while it lasts.

Any update on their channels or is it just me that cannot access both the app and the web portal

Odunharry:
Let's talk if you are looking for investment that is safe and secured and rate slightly better than Tbills.
Fixed depo.sit with Ren.money.


Can't post some details due to Anti spa. m bot

Hello sir, can you really classify investments with ren.money as safe seeing as their they are an MFB and deposits are insured to a maximum of 2million per customer

Meanwhile has anyone been able to use Norrenberger today... Both the app and web portal aren't available

emmasoft:
My own approach is to have more than one fund manager for MMF. Normally, investment in any of them is based on the objective of setting it up. However, I look at the movement of rate in a given period, such that more funds are allocated to the one that has an average higher rate than the other, though there are other considerations such as customer service, ease of redemption, etc.

Please note that MMF rate is always in a range and dynamic, you can not decide on the rate just because of the rate of one or two days.
For example, we saw Norrenberger at 18%+ 2 days ago, yesterday 16%+, and today it's 21%+. So the best thing is to have more than one, then channel more funds to the one that seems to have a high average rate, and when the tables turn, you also follow likewise rather than just moving your funds here and there.

Apt, thank you

emmasoft:
There is nothing like concern when it comes to MMF. The nature of MMF remains the same, regardless of the manager, and once the underlying assets are revalued, the rate will always change. There is actually no problem with any fund manager. None of them invests in any thing other than TBills and commercial paper.

In your opinion sir, is there any disadvantage chasing rates? I mean it makes no sense to remain with MMF option A @15% ish when MMF option B is @19% ish, seeing as there's absolutely no risk in the product itself irrespective of the manager

I wonder what FAAM is doing to maintain theirs @19ish. Drops everywhere

DenreleDave:
Original hand made quality shoe from a skillful hand


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Kindly Send a Dm/ chat: 0816-660-5471 for further negotiation

How much for the slipper in the 2nd frame

toby4ever:
@emmasoft . This Norrenberger are they under any bank. We know FBNQuest is first bank, stanbic is stanbic, UBA and the rest so which one is Norrenberger

This is actually incorrect, these companies that you have listed are separate entities distinct from the banks that you have mentioned (they used to be under the same umbrella but not anymore) . Different scope of business and regulators, if something were to happen to FBNQuest for example, First bank isn't going to refund your investment nor is it their business

modupemomo:
Please can you share where you accessed this information for presiding rates across different money markets. Thanks

You'll find it on Cowrywise

OjeniyiAyobami:
It has doubled the account trading capital. I will post the update later today.

Following

How do traders with low capital take advantage of this

Following

As rates start to plunge, remember these 2 things

(a). Protect your CAPITAL
(b). take (a) above seriously

Like it is often said here, return of capital beats return on capital all day, don't lose your capital in the quest to get better rates. times like these are when shady schemes come out promising amazing rates in other to take advantage of the prevailing fall in rates across board. Stay safe everyone

Hi, is this price fixed or negotiable

A lot of ignorant based conclusions on this thread, kai.... please take time to read the original material and not the different concoctions flying around