Tohmey:
But bro, which one will you recomend for me
I need a firm that will contain both mmf and fixed income fund
i like sfsfund but it seems to be only offereing only fixed income

I use Stanbic for years now, so would naturally recommend them. ARM is quite strong too. But Stanbic is quite intuitive, and deal with sincerity as far as I have seen.

Tohmey:
Good day to you all, someone introduce me to cowrywise. How safe it is?
Cause i can see many firms mmf/fixed fund there e.g sfsfund, stanbic. . . Etc, is adviseable to use it instead of opening multiple account on sfsfund, axamansard, stanbic. . .
But they charging a whooping of 1.5% fee

Why use intermediary when you can invest directly with the various fund managers.
Opening accounts with more than one fund manager should not be an issue, it's also in itself a strategy.

Tohmey:
welldone sir, please help recomend a trusted firm that can offer both MMF & FIXED INCOME FUND

Go to SEC website, look for capital market operators registered at "portfolio manager" reach out to them for their offerings

Top on my list would be
stanbic fund managers.
ARM fund managers.
Gtco
Afrinvest.
United capital.

Investment one doesn't qualify (based on your "offer both MMF & FIXED INCOME FUND" since they sold out their fund managing department to gtco but they still offer good investment.

sgtponzihater1:


For most fintech companies you still have a CSCS number, if you buy an ETF or stocks then it's in your name.

Also for MMF fund bought under those platforms, it should usually be in the investors name, the platform should only be an intermediary between the individual and the mutual fund company. It is the duty of the investors to ask for his investment certificate and have it handy. If those platform go burst, then you can contact the provider or the platform may transfer your details to another platform.

If cowry wise invests your money with their name, then it's a Ponzi scheme and you've got to run.

PonziHater

List some of the fintech companies that do this
" buy an ETF or stocks then it's in your name"

ernie4life:


List some of the fintech companies that do this
" buy an ETF or stocks then it's in your name"

With Chaka, for example, their intermediary is drive wealth US, and they buy stocks with your name. If Chaka goes burst, they cannot take your fund "legally", as they are only a platform for you as an individual to purchase that stock or ETF. Moreover Chaka is owned I.e Citi Investment Capitial . There is trove, bamboo etc, but I like to stick with medium to longterm industry players. Most of the others are business men who's main objective is making profit from exhorbitant fees, which shouldn't be the main motivation.

Another app based in the UK is Dodl which is actually owned by AJbells. Money box, invest engine etc are also available in the UK.

Having an app that purchases several stocks/index fund/ETF is actually a game changer for the average investors. I have tinkered with starting one with much lower fees than what currently obtains, but with questions like yours, I imagine Nigerians may not be exactly ready. Also any management fees above 0.5% -1% annually is actually too expensive, but I see Nigerians unlike people in western world are very comfortable paying this, so I imagine low fees may not tilt people towards patronising low cost players at the moment.

In the end every investor should do their due diligence and take responsibility for their profits and losses.

Best regards

sgtponzihater1:


With Chaka, for example, their intermediary is drive wealth US, and they buy stocks with your name. If Chaka goes burst, they cannot take your fund "legally", as they are only a platform for you as an individual to purchase that stock or ETF. Moreover Chaka is owned I.e Citi Investment Capitial . There is trove, bamboo etc, but I like to stick with medium to longterm industry players. Most of the others are business men who's main objective is making profit from exhorbitant fees, which shouldn't be the main motivation.

Another app based in the UK is Dodl which is actually owned by AJbells. Money box, invest engine etc are also available in the UK.

Having an app that purchases several stocks/index fund/ETF is actually a game changer for the average investors. I have tinkered with starting one with much lower fees than what currently obtains, but with questions like yours, I imagine Nigerians may not be exactly ready. Also any management fees above 0.5% -1% annually is actually too expensive, but I see Nigerians unlike people in western world are very comfortable paying this, so I imagine low fees may not tilt people towards patronising low cost players at the moment.

In the end every investor should do their due diligence and take responsibility for their profits and losses.

Best regards

Thanks for this, I doubt if the other fintechs in Nigeria do this, I have some insights on how they are structured but that's a discussion for another day.

ernie4life:


Thanks for this, I doubt if the other fintechs in Nigeria do this, I have some insights on how they are structured but that's a discussion for another day.

Would be most grateful if you could provide some insight to their structure when you are free. So people don't get burnt.

Thanks

emmasoft:

My oga @seyisanya this thing na mutual benefit nah you sef know. inflows must enter for ministry to go forward while helping others.

Can you explain this? Thanks.

Dear Client,

Following the approval of the Securities and Exchange Commission (SEC) and respective Trustees; please be informed that effective Monday 17 July 2023, the Registrar function for the underlisted funds will now be managed by FBNQuest Asset Management Limited as opposed to First Registrars.

The change in Registrar allows for a reduction in the Total Expense Ratio (TER) of the Mutual Funds which in turn enhances returns to you.

The FBN Mutual Funds include:
FBN Money Market Fund
FBN Bond Fund
FBN Balanced Fund
Please be assured of our continued commitment to enabling you achieve your investment goals.

Foodempire:


Can you explain this? Thanks.

Dear Client,

Following the approval of the Securities and Exchange Commission (SEC) and respective Trustees; please be informed that effective Monday 17 July 2023, the Registrar function for the underlisted funds will now be managed by FBNQuest Asset Management Limited as opposed to First Registrars.

The change in Registrar allows for a reduction in the Total Expense Ratio (TER) of the Mutual Funds which in turn enhances returns to you.

The FBN Mutual Funds include:
FBN Money Market Fund
FBN Bond Fund
FBN Balanced Fund
Please be assured of our continued commitment to enabling you achieve your investment goals.

It simply means that FBNQuest, the fund manager of the listed mutual funds has gotten approval from SEC to also act as a registrar to these funds they are managing, this will save cost and will mean better returns to the unit holders in the funds. Before now the job of registrar was contracted to First registrars for a fee.

emmasoft:


It simply means that FBNQuest, the fund manager of the listed mutual funds has gotten approval from SEC to also act as a registrar to these funds they are managing, this will save cost and will mean better returns to the unit holders in the funds. Before now the job of registrar was contracted to First registrars for a fee.

In my opinion I will still prefer an external registrar to ensure checks and balances.

Yes, it could improve operational efficiency but I don't think the cost aspect is so significant.

In the coming days I will see if their rates will be way above their peers.

ernie4life:


In my opinion I will still prefer an external registrar to ensure checks and balances.

Yes, it could improve operational efficiency but I don't think the cost aspect is so significant.

In the coming days I will see if their rates will be way above their peers.

True. Very knowledgeable investors will prefer separation hence the SEC and trustees' approval before the decision, but it's that cost angle they are just looking at perhaps to attract more clients I guess. You know nah whenever investors hear more money

emmasoft:


True. Very knowledgeable investors will prefer separation hence the SEC and trustees' approval before the decision, but it's that cost angle they are just looking at perhaps to attract more clients I guess. You know nah whenever investors hear more money

How long does it take stanbic to credit funds sent via transfer?
Funded more than 24hrs now and its yet to reflect.

enque:


How long does it take stanbic to credit funds sent via transfer?
Funded more than 24hrs now and its yet to reflect.

If you did the transfer before 12 noon on a working day and you wrote your e-account number as description, you should get value by the close of business otherwise send a mail to customer care with evidence of the transfer.

emmasoft:


If you did the transfer before 12 noon on a working day and you wrote your e-account number as description, you should get value by the close of business otherwise send a mail to customer care with evidence of the transfer.

Thanks
Sorted

I Just deposited money to my SfsFund account using my Virtual Account for the first time but the money is yet to show on my SFSFUND ACCOUNT BALANCE but it is showing on my SfsFund Ledger
Is that how the SfsFund does?

Tohmey:
I Just deposited money to my SfsFund account using my Virtual Account for the first time but the money is yet to show on my SFSFUND ACCOUNT BALANCE but it is showing on my SfsFund Ledger
Is that how the SfsFund does?

Yes, that is how it works. Check later today it will reflect on your balance and you will earn the interest for today as well.

emmasoft:


Yes, that is how it works. Check later today it will reflect on your balance and you will earn the interest for today as well.

THANKS YOU SIR!

Jerry59:
Boss I still have your contact and will probably reach out to you soon when I’m ready to test the waters

I’m ready now! Emmasoft

Jerry59:
I’m ready now! Emmasoft

Okay. You are welcome. Chat me up let's take up from there.

I will be waiting!

Attention Investors in SFS Fixed Income Fund who Used/going to use my Link.

Thank you for supporting my ministry.
Your patronage is really much appreciated and never taken for granted.

Please note that after you verify your BVN kindly generate your virtual account number.
This will enable you to have a personalized account number such that as you deposit into it, the money goes straight to your investment there is no waiting time.

You can also give your virtual/personalized account number to a 3rd party and once money is transferred into the account, it goes straight to your investment. This can be helpful if you don't want to spend the particular money you are expecting, in that case, you can just give your virtual account number to the source of the cash e.g a debtor or even your company.

You don't even need any description. Once you use your virtual account, it's treated as your personal bank account only that the content always goes to your investment directly.

When generated, it's normally Wema or sterling bank account in most cases. Sometimes it could be Providus bank.

As usual, I'm always available for any further clarification if needed. See my contact details in my signature.

OK.

emmasoft:


Okay. You are welcome. Chat me up let's take up from there.

I will be waiting!

I tested your link for StanbicIBTC MMF as iam breaking my VGIF to move to StanbicIBTC MMF but iam seeing Tier 3 and Tier 1 as options. Which should i pick when iam ready to open?.

NL1960:


I tested your link for StanbicIBTC MMF as iam breaking my VGIF to move to StanbicIBTC MMF but iam seeing Tier 3 and Tier 1 as options. Which should i pick when iam ready to open?.

pick tier 3.

Difference between tier 3 and tier 1

Tier 3 has no limit as to the amount you can invest.
minimum of 5k and no maximum
while tier1 has a cap of 200k ie your account can not hold more than 200k and you can not transfer more than 20k at a time.
It's actually for financial inclusion, particularly for very low-income brackets or students.
So for you, it's tier 3 you should pick.

emmasoft:


pick tier 3.

Difference between tier 3 and tier 1

Tier 3 has no limit as to the amount you can invest.
minimum of 5k and no maximum
while tier1 has a cap of 200k ie your account can not hold more than 200k and you can not transfer more than 20k at a time.
It's actually for financial inclusion, particularly for very low-income brackets or students.
So for you, it's tier 3 you should pick.

Thanks.

emmasoft:


pick tier 3.

Difference between tier 3 and tier 1

Tier 3 has no limit as to the amount you can invest.
minimum of 5k and no maximum
while tier1 has a cap of 200k ie your account can not hold more than 200k and you can not transfer more than 20k at a time.
It's actually for financial inclusion, particularly for very low-income brackets or students.
So for you, it's tier 3 you should pick.

I have used your link to open an account. Waiting for the e-account number now.

NL1960:


I have used your link to open an account. Waiting for the e-account number now.

@NL1960, thank you so much for the patronage. I really appreciate this.

Yes, you will get the e-account number within 24hrs all things being equal.

Thereafter you can now credit the UBA (custodian bank) account number for MMF that will be sent to you. After funding, your login details will be sent to you as well.

Kindly note that in all your transfers (deposits) always use your e-account number as the description so that tracing and posting into your investment account is made easy.

Thank you.

emmasoft:


@NL1960, thank you so much for the patronage. I really appreciate this.

Yes, you will get the e-account number within 24hrs all things being equal.

Thereafter you can now credit the UBA (custodian bank) account number for MMF that will be sent to you. After funding, your login details will be sent to you as well.

Kindly note that in all your transfers (deposits) always use your e-account number as the description so that tracing and posting into your investment account is made easy.

Thank you.

I have received the e-account. That was fast from Stanbic Asset Management as i filled the information by 10am this morning.

emmasoft:


@NL1960, thank you so much for the patronage. I really appreciate this.

Yes, you will get the e-account number within 24hrs all things being equal.

Thereafter you can now credit the UBA (custodian bank) account number for MMF that will be sent to you. After funding, your login details will be sent to you as well.

Kindly note that in all your transfers (deposits) always use your e-account number as the description so that tracing and posting into your investment account is made easy.

Thank you.

Good Day Sir Emma.

Trust you are doing well.

I want to get a clear detail on the Stanbic Ibtc Nigeria Market Equity Fund.

I saw 15% on 30 days.

Does it imply that I'm going to get an extra percent for the amount being invested under 30 days?

Nezzjnr:

Good Day Sir Emma.

Trust you are doing well.

I want to get a clear detail on the Stanbic Ibtc Nigeria Market Equity Fund.

I saw 15% on 30 days.

Does it imply that I'm going to get an extra percent for the amount being invested under 30 days?

No. All rates in SEC regulated investments are per annum, any variants stated will be prorated.
Equity based funds are volatile as the stock market and so the rate of the fund changes frequently with the market as the daily evaluation is done.

Something seem to be terribly wrong with Stanbic IBTC these days. I read where someone complained about his/her her deposit not been credited to his/her mutual fund account last week and I thought it was just a glitch that'll soon be resolved.

Can you imagine that I made a transfer to their collection account before 9:00AM on Monday morning but till today, Friday my account is yet to be credited? I sent a mail to them about it on Tuesday they received but did not act on it. Then I had to call the lady acknowledged and promised to forward it but up till now my account has not been credited.

Na too much customer dey worry them so ooo?

emmasoft:


No. All rates in SEC regulated investments are per annum, any variants stated will be prorated.
Equity based funds are volatile as the stock market and so the rate of the fund changes frequently with the market as the daily evaluation os done.

Okay Sir.

Can I have a call or a chat with you?

Nezzjnr:

Okay Sir.

Can I have a call or a chat with you?

Please go ahead.