₦airaland Forum

mymadam:
Investment One became useless online as soon as they were 'acquired' by GTCO. Unable to access my account (for normal redemption) via the new website they sent to me, I sent another email to them and they sent a Redemption Form to me via email to fill in and return. I simply redeemed my TOTAL investment straight into my bank account. The rest is history 👍🏽

When i noticed that my VGIF was no longer available on my Investnent One online access, i sent them a mail and they promptly replied that GTFunds now manages it and included their email to contact them. I sent the mail to GTFunds but got no response. After three days, i called a number i saw on their website. A lady picked and was speaking phonetics. I told her to cut it out. I told her that after all the funfair GTFunds did to acquire Investment One, they cannnot even maintain an online presence nor have the courtesy to send an email to customers on the takeover and that their service is scrap. I had to give them my Investment One customer number so that they can send me my statement. I will likely not topup what is there until i see an improvement in their services.

Foodempire:
Pls how can I access my investment one money market account? The previous website they sent via email is no longer working. I will like to withdraw all my funds, I don't feel comfortable dealing with them anymore. I sent them emails but no response yet

Investment One has been taken over by GT Funds Managers. GT Funds Managers is yet to provide a website or Mobile App for it. Google their website and call them on their contact number.

Lordsagna:
It's like unilag ain't forthcoming anymore .. same thing repeat itself over and over again, making me seeing myself as a failure. seeing people younger than me in medical school while I'm still here makes me sad .This time is gonna be different indeed, I need a federal institution that doesn't requires much Olevel with low tuition fees excluding UI .
Please recommend schools for me please. I'm just frustrated here in engineering

Unilag is too competitive because most people in Lagos want to go there instead of going out. So merit cutoff is always high. Which state are you from?. Unilag has all the SW states as catchment.

emmasoft:
Minimum holding period 30 days.
Redemption is within 24hrs if u apply before 12noon otherwise you get your money the next business.

Thanks.

emmasoft:
Stanbic IBTC MMF is like any other money market fund.
Interest accrued daily as well.

Reinvestment is available, it’s just like the VGIF you know the only difference is that interest is valued daily, and reinvestment is done at the end of each month not every six months like VGIF.

Actually, the method of reinvesting at the end of each month just started this January. IBTC used to reinvest randomly.

The SFS operates the same way in fact default is reinvesting except you state otherwise.
Reinvestment here is quarterly.

Please to help my ministry tell you wife to use my link on my signature. The account officer will still be maintained.

After registration, she can inform the account officer or if she insists on the paper form kindly write this code on the form L63LJ7GX

Thank you.

What is the redemption policy of Stanbic IBTC MMF ?.

emmasoft:
Stanbic IBTC MMF is like any other money market fund.
Interest accrued daily as well.

Reinvestment is available, it’s just like the VGIF you know the only difference is that interest is valued daily, and reinvestment is done at the end of each month not every six months like VGIF.

Actually, the method of reinvesting at the end of each month just started this January. IBTC used to reinvest randomly.

The SFS operates the same way in fact default is reinvesting except you state otherwise.
Reinvestment here is quarterly.

Please to help my ministry tell you wife to use my link on my signature. The account officer will still be maintained.

After registration, she can inform the account officer or if she insists on the paper form kindly write this code on the form
L63LJ7GX[/b]

Thank you.

Thanks. Will do that on the bold.

emmasoft:
SFS Capital is the company. They are just like investment one as well. A company that resulted from a management buy out as a result of regulatory policies.
They also have one of the oldest Reit - SFS REIT.

SFS Fund is managed by SFS Capital Nigeria Limited, a product of a Management Buy-out of Skye Financial Services Limited, which operated as the investment banking and investment management subsidiary of Skye Bank Plc. The change began after the Central Bank of Nigeria (CBN) instructed all Nigerian banks to sell off their non-banking subsidiaries. Coincidentally, while the divestment process was in progress, SEC began implementing the rule preventing Asset Management Companies from engaging in other activities. All this combined led the existing management to carve out SFS Capital Nigeria as the Portfolio and Fund Manager for SFS Fund.

Since your wife wants any safe investment SFS is good and you can also check other funds I represent. They are all safe without any equity involvement.
EDC MMF and stanbic ibtc MMF.
The links are on my signature.

Thanks.

Please elaborate on this stanbic ibtc MMF as she already has the StanbicIBTC Asset Management account opening forms sent to her by her account officer. She is just waiting for my advice on which one to choose from the list or doing a Fixed Deposit. The key questions are if interest is accrued daily and if so when is interest paid and if to be paid, is there a re-investment option?. I still have the VGIF you once recommended as i understand how it works.

emmasoft:
Looking for a profitable fixed income fund?

SFS Fixed income fund is your best choice.

Features:
Current Rate: 11.01%
Fund managers: SFS Capital
Custodian: Stanbic IBTC
Trustees: STL Trustees
Regulator: SEC
Income Distribution: Quarterly
Income accrual: Daily
Interest reinvestment (compounding) allowed
Minimum investment amount: 5,000
Underlying Assets: FGBN Bonds, Treasury bills, Blue Chip corporate commercial papers
Online account and investment monitoring with the web/app available

Click the link on my signature to register online.

Which Company is behind SFS?. My wife is looking for a fund to move her savinga to. I have VGIF from GTFunds(Former Investment-One) for myself. Iam evaluating others for her

sgtponzihater1:
Stanbic MMF 12% as at yesterday. Sounds good to me.

What does this really mean for a Stanbic MMF holder?. Is it that interest will be accrued on an investor's balance on a daily basis?.

emmanuelewumi:
te author=ahiboilandgas post=120415218]like i said bro you are Missing out due to your dislike for illiquid asset ( I also don't like illiquid asset ) investors then to learn ! Am surprised dangote still buys asset! In kano Mudasir bought the large union home and union bank building on igbo road for 300m . I taught he was stupid what will a textile Merchant do with such large building (rents =bullshit) he converted and remodel it to Mudasir plaza a 1 stop plaza for everything a bride's needs from furniture! To textile , kitchens items. He change the textile markets narrative .From going to crowded markets to buy textile in dust and sum now he shop in a nice ,aircondition well plan Mall and plaza . His sale quadriple and the 300m used to purchase the union home is back ! Due to this upgraded by him several banks also follow suits Taj bank ,SunTrust, union bank and now tenate in the plaza .So instead of selling you grandma property In Lagos as an investor you could have improved on the land by building a plaza with shops and selling example land plus 100m to build a plaza of 20 shops ( 170m) the sell each for 18m ×20 shops =360m .



As per my grandma's property we are 8 and we have different interests.


The investor who bought the property can't do anything on the land for the next 12 months, i am currently assisting him to procure a letter of administration as mama did not have a will, this will take minimum of 6 months.Tenants want a payout of N4 million for compensation and settlement. Who does that?

Apart from that the income is not predictable coupled with a low rental yield of just 5%.

My share from the property was invested immediately and will give me a minimum predictable cash flow of 13.5% per annum

In Lagos, most landlords are only sure of the first rent when the tenant is moving in. After the first year, it is war to get the tenant to pay. Some tenants will be paying piecemeal.

ahiboilandgas:
Gas business better ! The keke is a depreciating assets and need money from the cash flow to maintain! GAS returns the capital and profits back to you the Gas have expansion potentials , easy to manage . If you make 100k from keke .just know that 30k will go back to the keke .

Is Gas business that really better?. In Lagos, so many filling stations are now dispensing gas. You buy the amount or KG you want. People now prefer to go to such because it is dispensing and not weighing that small gas outlets do. I cannot remember the last time in the past 5years that i bought gas in a gas outlet, I refill from filling stations.

.

skydiver01:
Actually you are wrong and they are both right (NL1960 & RayRay06677)

I saw the post. I just decided to ignore as i no get time for round and round arguments. TBs wen person don dey do even before the N50m rule and also when rates went as high as 17% and then crashed to 2%.

Gavrelino123:
Gt bank was successful, 365 days @14.5%.

How can Gt bank be successful @ 14.5% when the Stop Rate posted was 13.99?.

Something is wrong somewhere..

richforever123:
When Dollar was 850 to a Naira, everyone became an economic analyst, telling people to invest in Dollars, now the Dollar is back to 700 everyone is quiet now

Probably pump and dump things.

spbabt:
Hello guys, I approached gt bank today to apply for TBILL against wed (9th Nov) auction, to my surprise after some actions on his laptop, the banker told me TBILL presently not available and the portal not opening, that I should check back next week. But I went to access back and they were willing to offer me, that I should write an application to that effect...

What I wanna find out pls is, is access bank TBILL 1yr rate comparable with that of GT bank? Pls I need swift response, so that I can take action first thing in the morning.
Or I should just relax for the next auction of gt bank in a fortnight.

Either the GTB staff must have checked secondary market for you or he does not know what primary market TB is. He cannot be checking for Primary market TB on his laptop. Primary market is from CBN. The Access bank staff know his TB onions.

Clinton39:
These are the issues.

The private Universities made a kill with the ASUU strike. When the ASUU President was insisting on the strike continuing and refusing to shift grounds, i was beginning to suspect some underhand deal with the private universities as many parents that could not wait were now taking their children there. With demand outstripping supply, some parents had to heavily bribe to get spaces for certain courses that has carrying capacity.

Clinton39:
I wondered too. And the thing about private schools is that sometimes that 2milla might even be audio, when you enter the school, you will meet a different scenario.

Children of some family friends that recently entered some private universities are just discovering some other fees that they have to pay.

SF123:
I have done that already boss, their fees is equivalent to 1.5 million

On their website, it is:

FEES SCHEDULE ACCORDING TO DEPARTMENTS EFFECTIVE FROM 2022/2023 ACADEMIC SESSION (HOSTEL FEES INCLUDED)

MEDICINE AND SURGERY


First Semester - 1,175,000.00

Second Semester - 825,000.00

Total - 2 MILLION

Where did you get your 1.5m from?.

twinskenny:
Another installations at yaba

5kva hyrbrid
4.220 turbular batteries
8 580w Canadian panels
Energy anytime

08051355133

What does the bold, hybrid mean?.

emmasoft:
Even when you have the 50m it's always advisable to go with the bank rate to avoid any disappointment.

Yes o. Even before the N50m minimum amount, i never went with my own rate. I always said that the bank should use their own rate to bid for me. They are in the sector. So they should know better than me. There is a saying 'over skill dey kill monkey'.

jabolo:
Oh, I see now but not really works that way.

When you apply for TB via bank ahead of the primary auction, their form asks what rate you will bid or whether you prefer to bid with the bank's rate. This only affects the likelihood of the bid being successful, last last you will get the CBN marginal rate if successful.

In the secondary market, the Banks (or any seller) are free to quote any rate to sell to you. It's their profit margin.

Good day.

Iam aware of this. This has been on the form from the time there was no N50m limit. So i doubt the banks have changed the forms. If they had not changed it, it could be that there are customers that have the minimum N50m to bid at their own rate.

jabolo:
If you're referring to the T-bill auction process, I'm not sure this is correct but then, seeing all the recommendations perhaps I didn't understand the original question. If so, I apologize ahead.

FWIW, all successful bidders get the marginal rate (rate at which the subscription is fulfilled when all bids are aggregated in ascending order).

Just think...

- Imagine the administrative nightmare managing different institutions' bids at different rates following each auction;

- Quoted yields in the secondary market would have no meaning if the same instrument had different interest rates for different bidders...

Etc

Good Day.

We have seen different people posting different rates they got from their banks which might be different from the CBN's Stop Rate. That gives an idea that there is a way the process is handled.

VeeVeeMyLuv:
okay thanks for the clarification

The minimum amount for a bid is N50m. So if you have N50m, you can specify your own rate. Because most people do not have the minimum N50m, they have to go with what a bank bids. The bank pools the amount by individuals and then submit bid and if successful, now 'resells' to their customers.

VeeVeeMyLuv:
Assuming the cbn comes up with a much higher marginal rate let's say 13% on Wednesday, but the prevailing rate in the period ( being on Tuesday) when the customer made the application was 10%. What rate would the customer end up getting? Is it the 10% or 13%?

Treasury bills is a bid and offer process. If a bank bids 10% and CBN offers 13%, the bank gets 10%. If the bank bids 13.1%, the bid fails.

emmanuelewumi:
I am of the first set of investors of the fund, it used to be called FSDH Treasury Bill Fund

What has been your experience?. Iam considering starting off with funds in my son's savings account as a test.

emmasoft:
1. Performance of the assets in which d fund is invested determines the rate

2. Yes interest is accrued daily. The displayed interest ie 10.31% is per annum so for a day it will be 10.31/365

3. By default interest accrued will be reinvested at the end of each quarter. Investors can now opt for the accrued interest to be paid to them every month or paid at the end of the quarter. The monthly payment option is unique to FSDH generally accrued interest is paid/reinvested quarterly

So no real guaranteed rate meaning rate can get as low as possible and can go as high as possible.

What is the frequency of change of this rate or at what frequency is it reviewed?. For instance, the current rate is 10.31% P.A which means accruals will now be done with that rate. Is the rate revalued on a daily, monthly or quarterly or yearly basis?.

emmanuelewumi:
You saw Coral Money Market Fund, that should tell you the underlying assets of the fund na

Yes o but wanted to be sure. You know say na Naija we dey.

emmasoft:
By the name and regulatory rules, Coral money market funds can never be invested in stocks. the underlying assets are basically Tbills, and commercial papers. If mutual fund assets have stocks as part of it, it's no longer a money market fund instead it's a balanced fund.
That is why MMF is a low-risk investment window.

Features:

Underlying Assets: Treasury bills, commercial paper

Rate as at today 10.31%

Minimum investment of N5, 000.00 and subsequent investment of N5, 000.00

Invests 100% in fixed income securities and money market instruments

Fund Manager: FSDH Asset Management Ltd
Lower risk
Custodian: UBA
Trustees: UTL TRUSTEES
Regulator: SEC

Reinvestment, quarterly payment or Monthly withdrawal of interest allowed

High interest rate double digit
- Monthly payment of interest
- Quarterly interest payment
- Compounding of interest
- Easy entry and exit
- Top up of funds at anytime with ease
- No WHT on interest
- For Long or short term and can be invested for minors as well
- Safe and guaranteed capital
- Superlative customer service then come over and invest in

(1) How is this rate determined on a daily basis

(2) Is interest accrual daily and if so what rate is used

(3) What do you mean by "Monthly payment of interest" and "Quarterly interest payment"?. Is it that somebody has to choose one of the options?.

emmasoft:
As per current rate, Coral money market fund managed by FSDH is a very good alternative.
Let me know when you are ready to come onboard

Post the characteristic of Coral money market fund as iam not comfortable with mutual funds that invest a large percentage in stocks. When i had not yet be grounded in financial markets, a mutual fund i subscribed to for my kids almost wiped out the money. I had to quickly pull out and then made it up the shortfall with my own funds.

emmasoft:
VGIF Guaranteed base on current value of sdf is 6%

E be like this VGIF no dey pay again o. I might have to start looking at alternatives.

emmasoft:
Abacus

while coral is 10.26%

What is VGIF now?.