₦airaland Forum

Stanbic today

I wanted to top up my Stanbic MMF account but I have to wait. The yield I am seeing is not encouraging.

Onyiridike:
I wanted to top up my Stanbic MMF account but I have to wait. The yield I am seeing is not encouraging.

Your money loses more value while waiting. Note that MMF rates are dynamic and the era of very high yield may be over because of current economic realities. However, having your money in MMF is still better than when kept in a normal savings account in the bank or fixed deposit.

The need for having two fund managers or another form of a mutual fund like a fixed income fund comes into play here.

Please how do I confirm that my KYC is complete on stanbic MMF?

emmasoft:
Your money loses more value while waiting. Note that MMF rates are dynamic and the era of very high yield may be over because of current economic realities. However, having your money in MMF is still better than when kept in a normal savings account in the bank or fixed deposit.

The need for having two fund managers or another form of a mutual fund like a fixed income fund comes into play here.

You are right but j think it's better to invest the money in reasonable business than MMF

prices of goods still high, exchange rate still high so keeping money somewhere while getting meagre return is not advisable (my personal opinion)

Onyiridike:
I wanted to top up my Stanbic MMF account but I have to wait. The yield I am seeing is not encouraging.

It's not cool to have one fund manager.

Register with FBNQuest which has a higher rate.

Save with both.

Youngzedd:
It's not cool to have one fund manager.

Register with FBNQuest which has a higher rate.

Save with both.

that's the percentage of FBNQuest?

jplambert:
You are right but j think it's better to invest the money in reasonable business than MMF

prices of goods still high, exchange rate still high so keeping money somewhere while getting meagre return is not advisable (my personal opinion)

Putting your money in business is a form of investment and your money in
MMF is another.

All forms of investment is good but carries different level of risk.

They serve different purposes and depending on individual investor's objective, availability, time, knowledge, economic realities etc.
Choices are made.

noble71:
that's the percentage of FBNQuest?

Current rate >> https://fbnquest.com/asset-management/resources/historical-funds/

Currently 21.83%

Youngzedd:
Current rate >> https://fbnquest.com/asset-management/resources/historical-funds/

Currently 21.83%

How long have you been using this fbquest and how is there customer care services

Is the account opening online or one must go the office

Jeoma2024:
How long have you been using this fbquest and how is there customer care services

Is the account opening online or one must go the office

They respond faster than Stanbic via email. Also, they're the number 2 fund managers in Nigeria by market share behind Stanbic IBTC.

Send them an email for account opening.

They have a mobile app FBNQuest Edge.

Youngzedd:
Current rate >> https://fbnquest.com/asset-management/resources/historical-funds/

Currently 21.83%

thanks. It's still the same with stanbic IBTC mutual funds.

noble71:
thanks. It's still the same with stanbic IBTC mutual funds.

How is it the same?

Which MMF pays interest on monthly basis. I have been using STANBICibtc for many years but recently their customer service has been on decline. Whenever I deposit money, I have to send several emails before my money will credited to my account.
I want to change to any MMF with good customer service

civilserva:
Which MMF pays interest on monthly basis. I have been using STANBICibtc for many years but recently their customer service has been on decline. Whenever I deposit money, I have to send several emails before my money will credited to my account.
I want to change to any MMF with good customer service

FBNQuest has better customer service.

Register on Stanbic IBTC BluNest and be depositing via the virtual account. This way you won't need to send any email for payment verification.

Just transfer to the virtual account assigned to your account and the money will reflect immediately.

On BluNest, you can top-up using your ATM card.


There's no MMF that offers monthly interest payment.

Youngzedd:
How is it the same?

stanbic IBTC is between 21% to 22% annually. So it is same.

Cowrywise is 22 percentage while Stanbic is 21 percentage. Should I invest in Cowrywise or stanbic.
Is Cowrywise a good investment . Are they secure?

richgang:
Cowrywise is 22 percentage while Stanbic is 21 percentage. Should I invest in Cowrywise or stanbic.
Is Cowrywise a good investment . Are they secure?

Stanbic IBTC is more liquid than them, followed by FBNQuest.

The choice of where to put your money is yours to make.

emmasoft:
Putting your money in business is a form of investment and your money in
MMF is another.

All forms of investment is good but carries different level of risk.

They serve different purposes and depending on individual investor's objective, availability, time, knowledge, economic realities etc.
Choices are made.

Stanbic mmf today is 19.98 which is another decline

Fbnquest was 22%

noble71:
stanbic IBTC is between 21% to 22% annually. So it is same.

Stanbic is 19.98 today

If you put 100m in fbnquest & STANBIC, you will make more than 2m on your fbnquest compared to STANBIC mmf

I think fbnquest is much more better than STANBIC IBTC

jplambert:
Stanbic is 19.98 today

If you put 100m in fbnquest & STANBIC, you will make more than 2m on your fbnquest compared to STANBIC mmf

I think fbnquest is much more better than STANBIC IBTC

Nawa o, what a sharp decline

Stanbic Money Market compound its interest rate monthly, while Meristem does hers quarterly.

Does Cowry rise compound her interest rate at all?

If yes, then how often?

TheOvercomer:
Stanbic Money Market compound its interest rate monthly, while Meristem does hers quarterly.

Does Cowry rise compound her interest rate at all?

If yes, then how often?

Yes, they compound quarterly.

jplambert:
Stanbic is 19.98 today

If you put 100m in fbnquest & STANBIC, you will make more than 2m on your fbnquest compared to STANBIC mmf

I think fbnquest is much more better than STANBIC IBTC

I guess many of us are new to how MMF work.

MMF is always in a range and valued daily and rates are subject to economic realities.

You don't judge MMF performance by just one day or few days rate.
The truth is that at the long run, returns from MMFs are virtually the same all things being equal.

One major reason and advantage of MMF is that the rate is always higher than the regular savings in MDBs and the benchmark is the rate of 3 months TBills.

Hence any MMF doing the same as 90 days Tbills rate or more is regarded as normal.

Like I always say, let's enjoy the rates while it last.

Ask those who have been around for long in the mutual fund business, you will understand that rates were less than 6% at a time and Tbills were practically no go area with rates as low as 3% then. Don't also forget that MMF is a low risk investment so investors' expectations should not be too high as to make it look like it's a volatile investment such as stocks or other riskier investment windows.

egojeny1:
Nawa o, what a sharp decline

It’s the volatility I'm concerned about. The effective rate will be significantly lower than their competitors by the end of the year if this random walk continues.

Neurotika:
It’s the volatility I'm concerned about. The effective rate will be significantly lower than their competitors by the end of the year if this random walk continues.

At the beginning of the year it was stated in many quarters and by different analyst that the rate will trend down this year base on economic realities and monetary policy in the country. We should not be surprised and don't stop investing.
There is always seasons for everything including investment

Neurotika:
It’s the volatility I'm concerned about. The effective rate will be significantly lower than their competitors by the end of the year if this random walk continues.

Exactly

emmasoft:
At the beginning of the year it was stated in many quarters and by different analyst that the rate will trend down this year base on economic realities and monetary policy in the country. We should not be surprised and don't stop investing.
There is always seasons for everything including investment

I agree and I’ve always said this too. But at the very least, stay in line with competitors. You can’t have most market share while offering one of the lowest rates. Investors are rational…superior processes only matter if the returns hold up. A 2% lower rate on let’s say 100M is 2M lost, and that gap grows even more with compounding. To most heavy investors this is a real concern. Anyway let’s see how this one goes.

civilserva:
Which MMF pays interest on monthly basis. I have been using STANBICibtc for many years but recently their customer service has been on decline. Whenever I deposit money, I have to send several emails before my money will credited to my account.
I want to change to any MMF with good customer service

Quite strange.
I have been with them for over 7 year and never had issues .
I transfer money to them and on the narration put my e account number and boom before 6 pm my money is resting.
And all transactions before 12pm.

From experience they are the best and efficient

Yesterday l made a withdrawal by 8am and few minutes pass 10 l got alert

Stanbic ibtc are reliable with efficient customers service.

jplambert:
Stanbic is 19.98 today

If you put 100m in fbnquest & STANBIC, you will make more than 2m on your fbnquest compared to STANBIC mmf

I think fbnquest is much more better than STANBIC IBTC

please how do I create a FBNQuest account?

Please, anyone knows about GTfundmamagers? Does GTbank have a MMF? Please, confirm