₦airaland Forum

emmasoft:
Understanding MMF Rates and operations

Investors should understand

1. Rates displayed can either be net or gross find out from your fund manager

2. The calculation of your interest is not done flat in the normal simple interest because the rate fluctuates daily.

3. The rate displayed may not be up to date if the website content is not updated, so you may be using a wrong rate if you decide to calculate. If you see 20% for say 4 days it may be that that rate was for just one day, the remaining days had different rate that was perhaps lower or higher.

4. MMF is not exactly as keeping money in a MDB, any money invested is always invested in an underlying asset depending on the type of mutual fund.

5. It's true you earn interest daily but it may not be posted daily. Sometimes it will involved a case of posting 2 or more days areers.

6. If you wish to get indept on how your interest is arrived at you will need to get in touch with a knowledgeable RM. Speaking with a customer service officer may yield little or no result.

7. Be assured, no fund manager is cheating you. They all go through SEC scrutiny every now and then in all aspect of operation even to the app or web portal operations. SEC has professionals in various investment windows and ICT that carry out audit on these firms. Regulations are thorough from the almighty SEC.

Sometimes you will need to bother less on some of these little things to have your peace and trust the system otherwise a low risk investment that suppose to make you have rest of mind will turn to an investment with high risk that always put your mind up there and bring a lot of worries and concerns.

However, as an investor you have right to challenge anything and you deserve an explanation of whatever you don't understand within the laws guiding fund management and investment generally.

The above is just my take.

These are all probabilities. I need real answers.
Let me show you what transparency and accuracy look like:

IllRatherNotSay:
These are all probabilities. I need real answers.
Let me show you what transparency and accuracy look like:

Which fund is this pls

Neurotika:
Which fund is this pls

I co ask too. This is the real deal of transparency. Showing daily or weekly earnings.

IllRatherNotSay:
These are all probabilities. I need real answers.
Let me show you what transparency and accuracy look like:

Wow 😳

Please which asset management company is this?

Neurotika:
Which fund is this pls

Cowrywise.

IllRatherNotSay:
Cowrywise.

Ok. Can you walk us through what your experience with them has been. Their onboarding process, reinvestment terms, compounding frequency, operational practices and all. Pls be very objective. Thanks.

Regarding Cowrywise, my experience has been positive, with all transactions, including withdrawals (processed within 24 hours), managed conveniently through the app. Customer service is responsive; for example, I received a proactive call notifying me of a failed direct debit top-up. The onboarding process is seamless and entirely app-based. Note that compounding is not automatic; reinvestment requires manual withdrawal to your wallet followed by redeposition. Withdrawals are permitted without minimum holding periods. This information is provided for context and does not constitute an endorsement. In Nigeria, integrity is usually temporary.
I hope someone who has an account with ARM can let me know how it works per experience only.

IllRatherNotSay:
These are all probabilities. I need real answers.
Let me show you what transparency and accuracy look like:

CAN you withdraw investment anytime?

IllRatherNotSay:
These are all probabilities. I need real answers.
Let me show you what transparency and accuracy look like:

I have wondered why these silly fund managers never provide a detailed daily posting of interests in your account transaction history like this. All they just do is display accrued interest without showing workings, leaving you to deal with the calculator everytime.

Neurotika:
I get your point on the management fee, but a 1–2% annual charge pro-rated quarterly basically has negligible monthly impact. The “consistency” feels a bit too neat…especially for an environment where returns are meant to compound at monthly intervals and underlying assets have non-uniform variations. When they’re smoothed out like that, it raises questions about whether the daily rates are actually reflective of market dynamics or just part of a controlled payout strategy. Nothing is being expressly implied here but nothing is impossible either. Never stop questioning regardless….

interests aren't compounded MONTHLY for most of these guys. I only know of Stanbic. You might want to double-check with the ones you are in business with and do raw calculations rather than romance conjecture. I like facts since numbers don't lie. This is why I go direct with these fund managers when asking questions.

0ubenji:
interests aren't compounded MONTHLY for most of these guys. I only know of Stanbic. You might want to double-check with the ones you are in business with and do raw calculations rather than romance conjecture. I like facts since numbers don't lie. This is why I go direct with these fund managers when asking questions.

I'm not quite sure what you mean by “romance conjecture,” especially since my mention of “monthly intervals” was clearly in reference to Stanbic which I also use. So I’m not sure how your point fits. But I think it’s best to leave the conversation here. Thanks.

IllRatherNotSay:
Regarding Cowrywise, my experience has been positive, with all transactions, including withdrawals (processed within 24 hours), managed conveniently through the app. Customer service is responsive; for example, I received a proactive call notifying me of a failed direct debit top-up. The onboarding process is seamless and entirely app-based. Note that compounding is not automatic; reinvestment requires manual withdrawal to your wallet followed by redeposition. Withdrawals are permitted without minimum holding periods. This information is provided for context and does not constitute an endorsement. In Nigeria, integrity is usually temporary.
I hope someone who has an account with ARM can let me know how it works per experience only.

How seamless is the on-boarding process ?

Can an account be created by oneself online?

A certain fund manager is stressing me with calculations and i need to have an alternative so i don't have all my eggs in one basket

Oladele2393:
CAN you withdraw investment anytime?

Yes.

Jerry59:
How seamless is the on-boarding process ?

Can an account be created by oneself online?

A certain fund manager is stressing me with calculations and i need to have an alternative so i don't have all my eggs in one basket

1. Quite seamless.
2. Absolutely.
3. No endorsement.

IllRatherNotSay:
1. Quite seamless.
2. Absolutely.
3. No endorsement.

Noted!

IllRatherNotSay:
These are all probabilities. I need real answers.
Let me show you what transparency and accuracy look like:

Seems we go port to this one...Arm is stressing me

nickae:
Seems we go port to this one...Arm is stressing me

I was looking at significantly increasing my investment with them but these calculation stuff I keep hearing about them is giving me second thoughts. You mind sharing precisely what the issue is?

IllRatherNotSay:
1. Quite seamless.
2. Absolutely.
3. No endorsement.

What's the name of that investment product on Cowrywise?

IllRatherNotSay:
Cowrywise.

I mean is this a mutual fund in cowrywise or what precisely?

0ubenji:
I was looking at significantly increasing my investment with them but these calculation stuff I keep hearing about them is giving me second thoughts. You mind sharing precisely what the issue is?

To upgrade my account is taking days, secondly it seems interests are not paid during weekends, I.e. Saturday and Sunday, because the amount in Gain/Loss is still the same since Friday whereas it's not like that with stanbic and the cowrywise screenshot shared

nickae:
To upgrade my account is taking days, secondly it seems interests are not paid during weekends, I.e. Saturday and Sunday, because the amount in Gain/Loss is still the same since Friday whereas it's not like that with stanbic and the cowrywise screenshot shared

Thanks for the clarification. I've noticed the weekend thingy is a pandemic across these fund managers. Norrenberger and a couple I've come to know don't post on weekends, until Monday morning.
That bit about ARM being sluggish with accts upgrade is 100% correct.

IllRatherNotSay:
Regarding Cowrywise, my experience has been positive, with all transactions, including withdrawals (processed within 24 hours), managed conveniently through the app. Customer service is responsive; for example, I received a proactive call notifying me of a failed direct debit top-up. The onboarding process is seamless and entirely app-based. Note that compounding is not automatic; reinvestment requires manual withdrawal to your wallet followed by redeposition. Withdrawals are permitted without minimum holding periods. This information is provided for context and does not constitute an endorsement. In Nigeria, integrity is usually temporary.
I hope someone who has an account with ARM can let me know how it works per experience only.

All their computation are in this way. I'm sick of it myself. This is my ARM computation and I have always referenced the previous day deposit for the current day earning, yet the average earning is 20%

FRANKLYex:
All their computation are in this way. I'm sick of it myself. This is my ARM computation and I have always referenced the previous day deposit for the current day earning, yet the average earning is 20%

STANBIC too is of no different.

FRANKLYex:
STANBIC too is of no different.

But stanbic stated about 20%

nickae:
But stanbic stated about 20%

It is not even clearly stated. or can you point out that to me?

0ubenji:
I mean is this a mutual fund in cowrywise or what precisely?

That’s the cowrywise shares . But they also have different mutual funds from stanbic to arm and more . I have been using them for a year but my mind nor too rest because they are fintech companies. Anything can happen anytime and they will fold up . I advise putting only 20 percent of your money in it so you won’t be affected too much when they fold up

FRANKLYex:
All their computation are in this way. I'm sick of it myself. This is my ARM computation and I have always referenced the previous day deposit for the current day earning, yet the average earning is 20%

have you queried them about this directly? If yes, what was their response?

FRANKLYex:
It is not even clearly stated. or can you point out that to me?

on Cowrywise app and fund managers official website.

FRANKLYex:
STANBIC too is of no different.

I'll confirm from them tomorrow. Those ARM guys are apparently posting gross interest rates daily in their app.

Norrenberger actually has very minute variation from the interest you earn as against the interest rate they post for the given day. However, not always. Their interest rate is almost always as claimed.

Gurus in the house.... Is the 1.5% management fee on money market fund on the capital or interest accrued?

Allboiz:
Gurus in the house.... Is the 1.5% management fee on money market fund on the capital or interest accrued?

ideally, it's on interest accrued, not capital but you haven't mentioned the FM you're in business with, so the ones who have been using them can confirm for you. Alternatively, you can simply ask the FM themselves.

0ubenji:
What's the name of that investment product on Cowrywise?

High yield investment.