₦airaland Forum

emmasoft:
Norrenberger Dollar Fund

As you get gifts in dollars during this festive period or you came home with dollars, remember to invest some
wisely so that you have gift that keeps giving.

Invest in the Norrenberger Dollar fund at 10.03%. You have opportunity to reinvest (compound) your interest.

Is the interest payout for this dollar fund quarterly or annually?

emmasoft:
Norrenberger Dollar Fund

As you get gifts in dollars during this festive period or you came home with dollars, remember to invest some
wisely so that you have gift that keeps giving.

Invest in the Norrenberger Dollar fund at 10.03%. You have opportunity to reinvest (compound) your interest.

minimum amount to invest?

jayce232:
Is the interest payout for this dollar fund quarterly or annually?

Quarterly, just like MMF and you can reinvest or opt for quarterly payout.

Mrluv:
minimum amount to invest?

$550

Find the account opening form attached.

emmasoft:
Quarterly, just like MMF and your can reinvest or opt for quarterly payout.

Thanks sir

Hello all,

Please how do you normally fund your Stanbic MMF?

I found this (see attached image) on their website, but it looks weird to me that the receiving bank is UBA.

Babtunz:
Hello all,

Please how do you normally fund your Stanbic MMF?

I found this (see attached image) on their website, but it looks weird to me that the receiving bank is UBA.

I transfer to that same account when funding. I alo ensure that I write my account number on the narration,remark or reason for payment column so , there's nothing weird there.

Infact that's how all much funds collection accounts are.

Babtunz:
Hello all,

Please how do you normally fund your Stanbic MMF?

I found this (see attached image) on their website, but it looks weird to me that the receiving bank is UBA.

It’s not weird, that is how mmf collections work.

freeman67:
I transfer to that same account when funding. I alo ensure that I write my account number on the narration,remark or reason for payment column so , there's nothing weird there.

Infact that's how all much funds collection accounts are.

Plus10:
It’s not weird, that is how mmf collections work.

Thank you!

Babtunz:
Hello all,

Please how do you normally fund your Stanbic MMF?

I found this (see attached image) on their website, but it looks weird to me that the receiving bank is UBA.

@Babtunz Kindly note that everything is in order.

By SEC rule, all MMF should have the following parties involved:

1. The Fund manager registered with SEC. In your case, it's Stanbic asset management
2. Custodian bank- a bank not affiliated to the fund manager, in your case, the custodian bank is UBA which is not affiliated to Stanbic, others like FBNQuest uses Citibank, Norrenberger uses UBA, Ucap uses Stanbic and so on
3. Trustees which ensure the MOU of the fund and the underlying asset is adhare to, this is always the second Account name seen on the collection account
4. SEC - This is the government representative and incharge of all investment matters in Nigeria. Any investment product or fund manager not approved by SEC is illegal no matter who is involved.

Reason for the above arrangement is to have checks and balances (Good corporate governance). It's one of the reasons we say MMF is a low risk investement, everything likely to be of risk is mitigated against.

Hence when anyone introduces a fund manger to you, check out for all the parties mentioned above. If any or all is missing please keep your money to yourself irrespective of the returns that is promised

let's be well guided.

Hello all,

Please I need your inputs on this. Say you have #10m to invest, how would you go about it? Would you rather:

1. Invest all in Risevest real estate plan for a 11-12% annual return. Using the exchange rate of 1650, that's about $6060. 12% of that is $727 which is about #1.2 return in a year.

2. Invest all in Stanbic MMF for a 20-21% annual return, which is about #2m.

3. Putting inflation into consideration, I'd go for number 1 but leaving out a potential 800k in option 2 doesn't sound very wise to me.

If you have any other way you'd go about this please kindly share 🙏🏾

emmasoft:
@Babtunz Kindly note that everything is in order.

By SEC rule, all MMF should have the following parties involved:

1. The Fund manager registered with SEC. In your case, it's Stanbic asset management
2. Custodian bank- a bank not affiliated to the fund manager, in your case, the custodian bank is UBA which is not affiliated to Stanbic, others like FBNQuest uses Citibank, Norrenberger uses UBA, Ucap uses Stanbic and so on
3. Trustees which ensure the MOU of the fund and the underlying asset is adhare to, this is always the second Account name seen on the collection account
4. SEC - This is the government representative and incharge of all investment matters in Nigeria. Any investment product or fund manager not approved by SEC is illegal no matter who is involved.

Reason for the above arrangement is to have checks and balances (Good corporate governance). It's one of the reasons we say MMF is a low risk investement, everything likely to be of risk is mitigated against.

Hence when anyone introduce a fund manger to you, check out for all the parties mentioned above. If any or all is missing please keep your money to yourself irrespective of the returns that is promised

let's be well guided.

Thanks for the explanation. I appreciate it!

Babtunz:
Hello all,

Please I need your inputs on this. Say you have #10m to invest, how would you go about it? Would you rather:

1. Invest all in Risevest real estate plan for a 11-12% annual return. Using the exchange rate of 1650, that's about $6060. 12% of that is $727 which is about #1.2 return in a year.

2. Invest all in Stanbic MMF for a 20-21% annual return, which is about #2m.

3. Putting inflation into consideration, I'd go for number 1 but leaving out a potential 800k in option 2 doesn't sound very wise to me.

If you have any other way you'd go about this please kindly share 🙏🏾

I don't know much about risevest, but I know that the stanbic MMF rates is not fixed at 20-21% per annum as it is subject to going higher or lower depending on variable factors.
Meaning that at the end of the year, you may end up with 2M, less than 2M or more than 2M as the case may be.

Babtunz:
Hello all,

Please I need your inputs on this. Say you have #10m to invest, how would you go about it? Would you rather:

1. Invest all in Risevest real estate plan for a 11-12% annual return. Using the exchange rate of 1650, that's about $6060. 12% of that is $727 which is about #1.2 return in a year.

2. Invest all in Stanbic MMF for a 20-21% annual return, which is about #2m.

3. Putting inflation into consideration, I'd go for number 1 but leaving out a potential 800k in option 2 doesn't sound very wise to me.

If you have any other way you'd go about this please kindly share 🙏🏾

It’s unclear how investing in a portfolio yielding 8% less than MMF qualifies as a better inflation hedge. Unless there are additional factors not disclosed, such as historically stable returns or other undisclosed advantages. The argument is unclear.

Neurotika:
It’s unclear how investing in a portfolio yielding 8% less than MMF qualifies as a better inflation hedge. Unless there are additional factors not disclosed, such as historically stable returns or other undisclosed advantages. The argument is unclear.

Maybe he is using dollar for the first one which is a more stable currency than naira.

Babtunz:
Hello all,

Please I need your inputs on this. Say you have #10m to invest, how would you go about it? Would you rather:

1. Invest all in Risevest real estate plan for a 11-12% annual return. Using the exchange rate of 1650, that's about $6060. 12% of that is $727 which is about #1.2 return in a year.

2. Invest all in Stanbic MMF for a 20-21% annual return, which is about #2m.

3. Putting inflation into consideration, I'd go for number 1 but leaving out a potential 800k in option 2 doesn't sound very wise to me.

If you have any other way you'd go about this please kindly share 🙏🏾

The first thing you should consider is the safety of your capital and neither devaluation of naira nor interest rate. How reliable is Risevest

jayce232:
Maybe he is using dollar for the first one which is a more stable currency than naira.

Ok I see. Well, unless he's confident that the Naira will depreciate more than the total returns from the Naira investment within his holding period, the dollar investment might not be worth it. The opportunity cost needs to be weighed carefully…especially since a single government policy could completely change the direction of the Naira’s value.

Babtunz:
Hello all,

Please I need your inputs on this. Say you have #10m to invest, how would you go about it? Would you rather:

1. Invest all in Risevest real estate plan for a 11-12% annual return. Using the exchange rate of 1650, that's about $6060. 12% of that is $727 which is about #1.2 return in a year.

2. Invest all in Stanbic MMF for a 20-21% annual return, which is about #2m.

3. Putting inflation into consideration, I'd go for number 1 but leaving out a potential 800k in option 2 doesn't sound very wise to me.

If you have any other way you'd go about this please kindly share 🙏🏾

To simplify your question:

Should you save your money in dollars at about 10% interest or should you save in naira at about 20% interest...

I am saving in naira, sometimes I feel I am mad, but I think all things being equal I get better returns in the naira investment than hedging against inflation using dollar instruments.

Another point to note is that I blend my investments over the months, so I exchange my usd to ngn in varying rates which smoothes out some of the dollar appreciation over time.

enque:
I don't know much about risevest, but I know that the stanbic MMF rates is not fixed at 20-21% per annum as it is subject to going higher or lower depending on variable factors.
Meaning that at the end of the year, you may end up with 2M, less than 2M or more than 2M as the case may be.

Oh, interesting. I actually thought the interest for MMF is guaranteed to increase. What are some factors that could influence the rates, if I may ask?

Neurotika:
It’s unclear how investing in a portfolio yielding 8% less than MMF qualifies as a better inflation hedge. Unless there are additional factors not disclosed, such as historically stable returns or other undisclosed advantages. The argument is unclear.

Risevest's real estate plan has been yielding a consistent 11-12% annual return since 2021. Since both investments are low-risks, I don't think the real estate plan has any better advantage against the MMF. The only advantage might be the hedge against inflation but I think an 8% difference will make up for that and more.

Obinnau:
To simplify your question:

Should you save your money in dollars at about 10% interest or should you save in naira at about 20% interest...

I am saving in naira, sometimes I feel I am mad, but I think all things being equal I get better returns in the naira investment than hedging against inflation using dollar instruments.

Another point to note is that I blend my investments over the months, so I exchange my usd to ngn in varying rates which smoothes out some of the dollar appreciation over time.

Thank you for this. I have analyzed both investments and I think it'd be wise to do 70-80% MMF and 20-30% Risevest.

Babtunz:
Risevest's real estate plan has been yielding a consistent 11-12% annual return since 2021. Since both investments are low-risks, I don't think the real estate plan has any better advantage against the MMF. The only advantage might be the hedge against inflation but I think an 8% difference will make up for that and more.

Ok then…

Finally, GTFM app is live.

Rhyah:
Finally, GTFM app is live.

I'm unable to access it.
Pls how did you go about it?
I'm using the new ID that was sent and the 'set up you account' link on the login page.

Rhyah:
Finally, GTFM app is live.

How do I download it, cannot find it on the App Store.

otomatic:
I'm unable to access it.
Pls how did you go about it?
I'm using the new ID that was sent and the 'set up you account' link on the login page.

They are still working on it.

They don't have an app yet. They are still working on the web portal.

Plus10:
How do I download it, cannot find it on the App Store.

It's not a mobile app...it's a web app...like a portal

otomatic:
I'm unable to access it.
Pls how did you go about it?
I'm using the new ID that was sent and the 'set up you account' link on the login page.

After this, I was sent an email with a link to set a password

I topped up my account yesterday and it hasn't been topped up till now. Is anyone experiencing this?
I used opay.

BolaAdetoro:
I topped up my account yesterday and it hasn't been topped up till now. Is anyone experiencing this?
I used opay.

Generally for most MMF, any deposit done after midday will reflect in your account and start to earn interest the next business day.

I made the transfer in the morning of the 27th. I expected that it would have topped up by now but it didn't.

Hello everyone,


How legit is Risevest?

And how long have they been operating?