₦airaland Forum

Rockyfancino:
Thanks for the clarification. Although, I still think it would have been a better investment if Naira was stable. In the last 1 year, Naira has gone from #790/$ to #1600/$+. If I had #1,000,000 invested as at last November 2023 which would have been around $1,265 then. Presently I would have realized around #1,250,000, but then that will currently be around $755 in this present day. My point is Naira is too unstable, else it would have been a great investment option. We actually don’t know if Naira will still end up going to #2000/dollar.

Is there a domicilary version of mutual funds that exist in Nigeria?

The value or stability of the naira is beyond individual investor, the value of naira is determined by many other factors of the economy. It actually depends on the state of the nation's economy, though the naira depreciates, not investing at all makes it worse. Imagine inflation is over 30% and returns on MMF is between 19 to 22%. The MMF doesn't have an hedge over inflation but reduces your negative returns and if the economy improves MMF rates can actually beat inflation.

If you wish to have a guaranteed dollar investment, you can do dollar fixed deposit with Investment One where your capital and returns is guaranteed.

Treasury bills have reached historic highs, enabling money market funds to yield returns between 19%% and 23%.

However, the prevailing 32% inflation rate significantly erodes the value of investments.

Furthermore, devaluation poses an additional risk, Interestingly, purchasing dollars in January would have yielded better returns than investing in money market funds or treasury bills.

ernie4life:
Treasury bills have reached historic highs, enabling money market funds to yield returns between 19%% and 23%.

However, the prevailing 32% inflation rate significantly erodes the value of investments.

Furthermore, devaluation poses an additional risk, Interestingly, purchasing dollars in January would have yielded better returns than investing in money market funds or treasury bills.

in a nutshell, diversify your portfolio and invest using stable currency.


That said, it's been a long time you came around here. Trust you doing good.

I can remember your active days on this thread back in 2018 — your tips and insights were what got me started on MMF back then and I am thankful for that till this day.

Warm regards to family.

Please, I'm seeing 14.25% in the bank here for Stanbic Money Market Fund. I thouggt it's said to be 20% interest.

Amycanada:
Please, I'm seeing 14.25% in the bank here for Stanbic Money Market Fund. I thouggt it's said to be 20% interest.

not true

You're RIGHT....The 14% is for fixed deposit

Obinnau:
not true

Please is there a link/available chart where one can view/compare the present savings account interest rates across major commercial banks in Nigeria? Thanks.

@emmasoft, please can your shed more light on norrenberger islamic funds, is the capital secured and is there provision for compounding over a period of time. I will also like to know more about the dollar funds.how can i submit the form after filling it. Thanks

emmasoft:
Don't wait to Invest but Invest and wait

Note the following:
If you want to enjoy the stability of FGN Bonds investment,
You don't want to wait for the long-term FGN Bond is known for,
you don't have a lump sum to invest

You want to be able to terminate your investment without penalty anytime you wish,
You want to top up regularly with any amount from 5,000,

You wish to get your returns every quarter or have the option of reinvesting your returns ie compounding,

Then invest in the SFS fixed income fund at the rate of 17.02% the highest in the industry.

Click the 2nd link on my signature or contact me to open an account for free.

Shady92:
@emmasoft, please can your shed more light on norrenberger islamic funds, is the capital secured and is there provision for compounding over a period of time. I will also like to know more about the dollar funds.how can i submit the form after filling it. Thanks

@Shady92, Please see product details attached.

The fund is invested into carefully selected sharia compliant and halal instrument, the fund pays quarterly profit (not interest) to its investors, the compounding option also applies to the fund.

After completing the form, chat me up with the number on my signature an account officer will be attached to you so that a quick follow up can be done on your account opening.

The dollar fund invest in eurobonds and it's price based, hence the value fluctuates as the price moves, it's good if you have long term in view and it will help to hedge against the local currency devalution and inflation which is on the increase currently.

Ok. Thank you sir. I wi do as instructed.

emmasoft:
@Shady92, Please see product details attached.

The fund is invested into carefully selected sharia compliant and halal instrument, the fund pays quarterly profit (not interest) to its investors, the compounding option also applies to the fund.

After completing the form, chat me up with the number on my signature an account officer will be attached to you so that a quick follow up can be done on your account opening.

The dollar fund invest in eurobonds and it's price based, hence the value fluctuates as the price moves, it's good if you have long term in view and it will help to hedge against the local currency devalution and inflation which is on the increase currently.

Latest Mutual Funds Rates from Norrenberger

Complete the attached account opening form and contact me to start investing.

Please, regarding the Stanbic IBTC MMF, can one DIY or it must be done through a bank official?

I was at one of the Stanbic branches today, the way the person in charge there was hustling me eh. He was like I need to make payment to an account(bearing his name), then I will be sent a password blah blah blah.

Asking if I was ready to start immediately, got me a bit scared

@emmasoft

Shogunxxxx:
Please, regarding the Stanbic IBTC MMF, can one DIY or it must be done through a bank official?

I was at one of the Stanbic branches today, the way the person in charge there was hustling me eh. He was like I need to make payment to an account(bearing his name), then I will be sent a password blah blah blah.

Asking if I was ready to start immediately, got me a bit scared

@emmasoft

I have always explained here on this platform that in terms of operations and scope of work and interest, stanbic ibtc bank and stanbic asset management are two different companies.
It's true they belong to the same holding company but they are actually different.
Going to a stanbic ibtc bank doesn't make you closer to stanbic asset management.

Most times the people you meet in the banking hall don't even know what stanbic asset management do in the real sense.

I will advice anyone who wish to deal with stanbic asset management to do that directly. You don't actually need a third party to relate with them.
Even when I say you should use my link to register, you are actually dealing with them directly not passing through me.

You can open account even this night if you wish.

Click the first link on my signature and complete the form online, by tomorrow your account details will be sent to you and you can start investing immediately.

You can also reach out to me if you want further clarity on how MMF work. My number is on my signature

Shogunxxxx:
Please, regarding the Stanbic IBTC MMF, can one DIY or it must be done through a bank official?

I was at one of the Stanbic branches today, the way the person in charge there was hustling me eh. He was like I need to make payment to an account(bearing his name), then I will be sent a password blah blah blah.

Asking if I was ready to start immediately, got me a bit scared

@emmasoft

Never you pay money to anybody's account for any investment including MMF. We are no longer in 1914. This is 2024. Real investment companies have online presence that you can open an account directly without involving a third party. Once opened, you will be sent a mail with login id, password and account to pay to.

I preliquidated my mutual funds investment after 32 days
I only got the principal without the accrued interest. Why please?

Amycanada:
Please, the 20% interest rate, is it annually? And how is the interest paid, monthly?

Obinnau:
20% percent per annum,interest accrues on a daily basis with a monthly payment window

@Obinnau can you say if the Bolden is correct

Asking on behalf of a family member .

Do others find Stanbic asset management customer experience to be poor . We’ve been trying to setup an account for over a month now. Simple tasks like a name update take them weeks. Anyone know any tips to get a hold of them ?

canadaman18:
Asking on behalf of a family member .

Do others find Stanbic asset management customer experience to be poor . We’ve been trying to setup an account for over a month now. Simple tasks like a name update take them weeks. Anyone know any tips to get a hold of them ?

Setting up a Stanbic Asset Management Account is very easy. Using online is even faster once your KYC are fine.

300wayne:
@Obinnau can you say if the Bolden is correct

yes. Remember it is 20%/12months = x
Then the x/30 days = daily accrual

canadaman18:
Asking on behalf of a family member .

Do others find Stanbic asset management customer experience to be poor . We’ve been trying to setup an account for over a month now. Simple tasks like a name update take them weeks. Anyone know any tips to get a hold of them ?

from my experience, name change and account changes are usually handled on weekends, of course they will respond that they have received the email, but they don't work on it until weekend. Withdrawals usually happen same day.

The 1.5% p.a management charge by Stanbic IBTC money market, is it deducted from the daily interest or charged as a lump sum at the end of every year?

@emmasoft

personal0:
The 1.5% p.a management charge by Stanbic IBTC money market, is it deducted from the daily interest or charged as a lump sum at the end of every year?

@emmasoft

Management fees is charge on Asset under management (AUM) is per annum. What you see as the rate is net of fees.

You can always go through the funds fact sheet sent every month for details.

So to put simple term, is it charged per annum on the accrued interest or the total invested sum?

emmasoft:
Management fees is charge on Asset under management (AUM) is per annum. What you see as the rate is net of fees.

You can always go through the funds fact sheet sent every month for details.

emmasoft:
Management fees is charge on Asset under management (AUM) is per annum. What you see as the rate is net of fees.

You can always go through the funds fact sheet sent every month for details.

@emmasoft. My wife don turn your marketer. . She has introduced Stanbic MMF to somebody and i have sent her the link on your profile so that when the person opens using it, it will be through you.

NL1960:
@emmasoft. My wife don turn your marketer. . She has introduced Stanbic MMF to somebody and i have sent her the link on your profile so that when the person opens using it, it will be through you.

Ha, my Oga! Thank you so much. My regards to madam, Please help me tell her that her effort is appreciated greatly. God bless your family. Amen.

Meshach171:
So to put simple term, is it charged per annum on the accrued interest or the total invested sum?

charged on all invested sum at a given time. Though it's per annum it can be applied daily, monthly quarterly etc.

Just know that whatever rate you see displayed, all fees are already deducted otherwise it will be stated.

emmasoft:
That is what I just explained. Right now you are comparing MMF with Fixed income and that will not be correct.

Check the fixed income of Ucap and stanbic, non is up to 10% even the one of FbnQuest referred to as bond fund is about 12%. Currently SFS fixed income fund has the highest yield in the industry.
If you look at the average bond yield, it's about 18%. All fixed income funds have FGN Bond as major underlying asset and that is what differentiate them from MMF.

Like I have always said here, investing in fixed income fund is indirect way of investing in FGN Bond at convenient.

Same way MMF is indirect way of investing in Tbills in bits at investors convenient.

Thanks for sharing

Good morning all.
I just have an observation and I need assistance please.
Is it just me or is that FBN Quest customer care is very poor? Since I opened an mmf account with them a few months ago, they refused to reply my email when I tried to resolve other few issues. This is a big red flag. It’s risky to keep putting money there then. FYI, I’m in diaspora.
I wrote to their customer care emails, I even tried to call the relationship manager whose number was on the acc opening email but it was not reachable.

Mixology:
Good morning all.
I just have an observation and I need assistance please.
Is it just me or is that FBN Quest customer care is very poor? Since I opened an mmf account with them a few months ago, they refused to reply my email when I tried to resolve other few issues. This is a big red flag. It’s risky to keep putting money there then. FYI, I’m in diaspora.
I wrote to their customer care emails, I even tried to call the relationship manager whose number was on the acc opening email but it was not reachable.

To be frank, their customer care can be very unresponsive sometimes. In that situation all you have to do is to be persistent if you must use them or change to a more responsive Asset Management. Other times it may be that you do not have the right address to contact. Attached is a screenshot of an official email I got from them earlier. It carries their customer care email address and about 3 phone numbers you can contact.

Just check and see if it is different from what you have.

freeman67:
To be frank, their customer care can be very unresponsive sometimes. In that situation all you have to do is to be persistent if you must use them or change to a more responsive Asset Management. Other times it may be that you do not have the right address to contact. Attached is a screenshot of an official email I got from them earlier. It carries their customer care email address and about 3 phone numbers you can contact.



Just check and see if it is different from what you have.

Thanks bro
But it’s actually the same mail I wrote to. I even included customercare@fbnquestmb.com

emmasoft:
Latest Mutual Funds Rates from Norrenberger

Complete the attached account opening form and contact me to start investing.

you mean this company gives 23.27%?

Why is Stanbic rate so low?

Good morning all, please when is the right time to request for the accrued interest and what's the process of requesting for it?
Thank you.