₦airaland Forum

beyolah:
Thank you for the prompt response
I don't understand paying the seller the accrued coupon.
I assumed I would buy through my stockbroker since it's listed on NSE (meaning I won't have anything to do with the seller)
Is this assumption wrong?

It just means you would pay a little bit more than the quoted price.

You can seek clarification from your stockbroker and/or read here: https://www.investopedia.com/terms/d/dirtyprice.asp

beyolah:
Hello investors
I was going through CSCS daily listing and saw this quote

Symbol. Security. Opening price Closing price

FGS2019S2 12.794% FGS APR 2019 90.00 90.00.

1) Is this a FGN savings bond or FGN bond?
2) Would it mature, or the tenor end by April 2019
3) With the quoted price, can I assume that the original price was N100 but it's now being sold at a discount?
4) If 3 is yes, assuming I buy 10 units now, when it matures, would I be getting N1000 rather than N900?

Thank you

1) FGN savings bond series 2.

2) Yes.

3) Yes.

4) You would get the full face value corresponding to the units bought. But please remember that there is a clean and dirty price for bonds - you would have to pay the seller the accrued coupon uptil that point. You can search it up.

Also note that the secondary market liquidity is thin. So it may take some time to get the necessary units required.

Regards, bro.

Does anyone here have any experience with the Stanbic Dollar mutual fund?

Thanks.

Today’s OMO auction result via @Zedcrest Capital

awesomeJ:
How long have you been viewing T-bills calendar?

There are things you don't have to tell an adult. I've known the meaning of quarters since basic school, don't you think?

Alright.

awesomeJ:
Today's auction was the last for Q2 2018. For the first time in the entire quarter, we witnessed a rise in stop rates.
I am optimistic about the coming quarter.
I expect further rises at the June 13th auction.
By the way, thank you Yinka2011 for the quick up date. God bless you.

April-May-June are part of second quarter.

Dwizeone:
Apparently I have two different brokers o ...
The other render excellent services (not just a brokerage firm) and I use them more.

Which firm is that?

aremso:
I use mission sec. ltd but now since I can trade online myself via a broker that has online platform and that why I have registered with meristem . Mind you, your broker does not really determine your success in stocks investment but you must do your due diligence and invest in sound stocks. After, the experience of 2008, I told myself no more loss and I did my due diligence on all the stocks I have interest. I don't always rely on my broker. pls don't invest now stocks prices will still go down further.

I thought you were trading with Morgan. Meristem charges 1% for brokerage fee right? So you lose ~3.2% of your capital on a complete trade. How do you compensate for this?

aremso:
Hmmmmm... I did something related to that even with all the legal backing, my 7.5m is hanging in the thin air the case is in the court. if I had invested the money in stocks which I know very well, I would have being able to put 20m into tb instead of 10m I put. I knew stocks will crash in prices and since I have made profit I pulled it out into TB. I will go back when the prices are down and this what I will be doing going forward. my advice is people should not invest in what they don't know. for those who can take the risk, kudos and more money to your pockets

Who is your broker, bro?

awesomeJ:
Same practice with all fund managers?

I haven’t subscribed to one. I was interested and tried sourcing for information from the publicly available statements/reports/prospectuses

awesomeJ:
To make things worse, discount houses like FSDH wouldn't even let you open an account if you're with less than 50m.

Maybe bond funds would be worth taking a look at now. There should be ones with 13-15% yields currently.

Bond funds are opaque. Their annual and quarterly statements rarely give you information about the yearly coupon/distribution/dividend. They keep peddling their change in NAV.

ernie4life:
House check out secondary market treasury bills rate below as at today and compare it with mmf rates, you will see mmf is still better

Can you upload the complete table?

Thanks

ahiboilandgas:
they are all FGN bonds... saving ,green .2020,2030 last time i bought was in 2016 ....minimum is 10 k as written on the form on debt management office website

With the introduction of the savings bond (March 2017), the minimum amount for the regular FGN bonds (not the ones geared towards the retail market, like the sukuk) was reviewed upwards to 50m

ahiboilandgas:
wrong bond is 10 k ,tb is 50 m when u qoute your rate

Bro,

Have you actually purchased an FGN (not savings) bond recently (after April 2017)?

GlitteringStar:
Wow! Congratulations!!! Contact your school to inform them once you get your COPR so that they can change your legal status to a domestic student. The funding you got as an international student will likely be cancelled and then you will be considered for a full scholarship (meant for domestic students). I got the same offer and was given full funding. Congrats once again.

Hello,

Can you apply for the Express Entry (permanent residence) if the course has already commerced (already studying)? Or it has to be done before entry into Canada?

Thanks

diamond88:
Inflation rate fell again to approximately 12%. It means TB going to fall to one digits interest rate at the end.

Any source for the inflation figures?

Yields are recovering. The stop rates may not fall much in the next PMA.

freeman67:
I am considering this investment one Vintage dollar fund after enough stress to open a dorm... However, afraid is catching me because of the recent Naira and Renminbi currency swap deal between Central Bank of Nigeria and People's Bank of China. I do not what the future holds... No clear picture of how it may affect the NGN/USB exchange rate in the nearest future.

The CBN wants exchange rate stability, not necessarily naira appreciation. Any slack would be used to build the reserves.

Long term, still expect the ~8% (annualised) depreciation of the naira against the dollar, noting the inflation rate differentials between both countries.

hilaryxoxo:
You can reach them here https://investnow.ng/Contact for more info. I am sure their mutual fund is around 9% (annualized)

Hello,

Is the 9% the actual interest yield (net of all deductions and actually credited to you) or the quoted yield?

Regards

michellez:
Thanks for your insightful response, in terms of the best rates which do you think i should explore first - The bank's secondary market or head straight to the FMDq's?

The bank is convenient and straightforward. You may have to be more proactive to elicit responses from the investment houses.

michellez:
This is incredibly low. I went to Zenith bank today to make enquiries and was told i cant buy tbills for less than N1M and that would be in two weeks as auction bids had already commenced. I have a few questions please:

1. I understand some people purchased Tbills worth less than a million (like 100k earlier)? If yes, where can i buy those?
2. I dont really understand the dynamics of primary and secondary market but isn't there a way i can still purchase tbills without having to wait till two weeks again when rates would have reduced further?

Rates are going to go lower, still.

1) Different banks with different minimum amounts. Stanbic, First Bank, and FCMB will allow you purchase Tbills with N100k.

2) You can purchase tbills anytime from the banks’ secondary market (kind of informal and opaque) or from the FMDQ OTC using an investment house (such as Investment One, ARM, Afrinvest, or Axa mansard).

The banks will tell you their prevailing secondary market rates for the day. (You can get an indication of the yields to expect by checking the NITTY daily fixing).

The investment houses (at least the good ones) will purchase NTBs for you from FMDQ with a reduction in the discount rates (see attached) representing their charges.

02/05/2018

simplibaba:
Bank name: Firstbank
Rate: depends on 2 factors which were 1) the number of days remaining for the tb to get to its maturity date 2) The present rate for that very day the tb was sold.
But i received a call few minutes from the time the investment was about to be auctioned on the amount of money that would be deducted from the principal base on those 2 aforementioned factors and i said i am okay by the figure. My account was credited in less than 20minutes after dropping the call...

Thanks for the info.

ernie4life:
You can pm me so I can have your mail,
Once you hear of any on sale you can just let me know so I give you the details or if any is on offer I can also let you know

Thanks, bro

ernie4life:
Thank you for pointing out the error in my answer.


We brokerage Corporate bond only when they are on sale and at that point the minimum is determined by what minimum the company is accepting.

Thank you for your helpful response.

I am interested. Should I pm, or you would keep the house updated when there is a public offer?

I think UPDC, C&I leasing, Wema, and Dangote Cement are all mulling raising debt capital this year.

ernie4life:
$200k

Please verify. Not Eurobonds, but naira corporate bond.

ernie4life:
Investment one financial services Limited was formerly GTB Asset management before CBN instructed banks to either form a holding company with there subsidiaries or let the subsidiaries stand alone, it was at this point that the like of FBN changed to FBNH, from what I heard GTB didn't want that so they let their subsidiaries stand alone leading to the likes of GTB assurance turning to Mansard, GTB registrars is now data max registrars and GTB asset management is now investment one financial services limited you can read up more on their website www.investment-one.com.

over the years their business have grown, they have one of the best rated stock trading platform that they call easy trade, so far so good they have performed well but please don't take my word still do your research to confirm if its all true

Bro,

What’s the minimum amount required to procure Nigerian Corporate bonds (naira) using IONE?

simplibaba:
It has beeb done... Thank you sir

Could you share more details about the transaction, Sir? The name of the bank, the discount rate it was sold, charges, et al.

Regards.

haibe:
this comment is suggesting that that the difference between the original investment and available balance is lesser than the 'interest' under but this is not the case

You are correct. Post modified.

sammydirectly:
Can you please explain:

On the stanbic MMF online app, there AVAILABLE BALANCE in bold and right under it is the tiny INTEREST

Do I have access to the whole Available balance? As in, can I withdraw all?
The interest does not tally with the difference between original investment and available balance.

Available balance = total subscription + realised interest + unrealised interest.

Realised interest is a small fraction of your accrued interest and is usually added weekly.

Your total interest = realised interest + ‘interest’,
Where realised interest = available balance - total subscription - unrealised interest.

sunvick:
Hello bro, can you explain what the "Stop Rates" mean?

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