Mutual Funds - Investment (376)

Mutual Funds - Investment (376) - Nairaland

Nairaland Forum › Nairaland General › Investment › Mutual Funds (1541285 Views)

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Re: Mutual Funds by 0ubenji(m): 1:30pm On Jun 26, 2025

Allboiz:
FBNQUEST asked for your employment letter? If that's the case, it'll be difficult to pull out big fund for withdrawal with them. They'll frustrate you. Although, when I signed up, they didn't ask for my employment letter.

The amount tallies for the fund in FBNquest.

I've not even put anything and they asked for employment letter. They said its the standard.
When did you open your account and what was asked from with respect to employment and/or source of funds?

Re: Mutual Funds by Allboiz: 5:23pm On Jun 26, 2025

0ubenji:
I've not even put anything and they asked for employment letter. They said its the standard.
When did you open your account and what was asked from with respect to employment and/or source of funds?

I just filled a form and asked normal employment details and that was in 2019. But I started putting money late last year

Re: Mutual Funds by IyaTola: 6:53pm On Jun 26, 2025

nickae:
Why una dey demarket ARM na
For me it's been days now, they have refuse to upgrade my account after filling both offline and online forms, with this revelation, na to leave them abeg.
Anyone using GT Fund manager? How is their service.
In another news; https://www.vanguardngr.com/2025/06/investors-appetite-jerks-up-mutual-funds-by-93-to-n5-6trn/

GT fhnd manager are not doing badly but I want to be port

Re: Mutual Funds by nickae: 7:04pm On Jun 26, 2025

0ubenji:
I've not even put anything and they asked for employment letter. They said its the standard.
When did you open your account and what was asked from with respect to employment and/or source of funds?

I opened an account with them recently, they didn't ask for any employment letter. However, my worry is their position that new users cannot view their portfolio in either online or via the app.
these were their words:
Please note that we are currently undergoing a system upgrade, and as a result, the App/Online Portal is temporarily unavailable to new customers. You will be duly notified once the upgrade is complete and access is restored.

The exact date/time the upgrade will be completed wasn't stated, so am hesitant in investing huge amount for now.

Re: Mutual Funds by nickae: 7:05pm On Jun 26, 2025

IyaTola:
GT fhnd manager are not doing badly but I want to be port

hello @IyaTola, if they are not doing badly, why then do you want to leave, can you expatiate more.

1 Like

Re: Mutual Funds by 0ubenji(m): 11:25pm On Jun 26, 2025

nickae:
I opened an account with them recently, they didn't ask for any employment letter. However, my worry is their position that new users cannot view their portfolio in either online or via the app.
these were their words:
Please note that we are currently undergoing a system upgrade, and as a result, the App/Online Portal is temporarily unavailable to new customers. You will be duly notified once the upgrade is complete and access is restored.

The exact date/time the upgrade will be completed wasn't stated, so am hesitant in investing huge amount for now.

Yea, I was told that too last month when I was making inquiries and I assumed it would have been solved by now. Also, it turns out I'm being asked for employment because I've got a foreign employer.

Re: Mutual Funds by 0ubenji(m): 11:26pm On Jun 26, 2025*

Allboiz:
I just filled a form and asked normal employment details and that was in 2019. But I started putting money late last year

policies long changed.. but not much.

Re: Mutual Funds by alezzy13: 5:57am On Jun 27, 2025

nickae:
Why una dey demarket ARM na
For me it's been days now, they have refuse to upgrade my account after filling both offline and online forms, with this revelation, na to leave them abeg.
Anyone using GT Fund manager? How is their service.
In another news; https://www.vanguardngr.com/2025/06/investors-appetite-jerks-up-mutual-funds-by-93-to-n5-6trn/

Na wa o. Serious demarketing! No be small thing 😮😁

I'm surprised with all these comments about ARM. I've used them for some years now and they've been very okay. The app is excellent especially for TB purchases. In fact their CS is such that they call at intervals asking how your experience is, and if you have any challenge. Surprising they are treating a potential customer like you this way.

Btw I have some other MF accounts: Stanbic, UCap, GT and I/one, with each having their pros and cons, but in terms of overall experience would easily rate ARM the best.

Well as for the GT which you asked, they are actually ok - the issue I have is that their website is still in its formative stage. It was only recently that you could top up via the site. Customer service is ok.

Re: Mutual Funds by alezzy13: 6:05am On Jun 27, 2025

0ubenji:
I've not even put anything and they asked for employment letter. They said its the standard.
When did you open your account and what was asked from with respect to employment and/or source of funds?

That's strange. I know some some companies do ask for employer details when the sum exceeds a certain amount. Its however unusual that such would be required at account opening.

Re: Mutual Funds by Bababull: 9:12am On Jun 27, 2025

Please anyone in the house to share what is happening with Meristem MMF

Re: Mutual Funds by Harshreality: 11:20am On Jun 27, 2025

Can the norrenberger Dollar fund be funded with Naira?

Re: Mutual Funds by nickae: 11:27am On Jun 27, 2025

Harshreality:
Can the norrenberger Dollar fund be funded with Naira?

Nope, you have to convert your naira to dollar

Re: Mutual Funds by nickae: 11:27am On Jun 27, 2025

Bababull:
Please anyone in the house to share what is happening with Meristem MMF

WealthBuddy sad

Re: Mutual Funds by Harshreality: 11:59am On Jun 27, 2025

nickae:
Nope, you have to convert your naira to dollar

Alright. Thank you

Re: Mutual Funds by 0ubenji(m): 1:18pm On Jun 27, 2025

Bababull:
Please anyone in the house to share what is happening with Meristem MMF

you haven't shared any context on your inquiry.

Re: Mutual Funds by 0ubenji(m): 1:22pm On Jun 27, 2025

alezzy13:
Na wa o. Serious demarketing! No be small thing 😮😁

I'm surprised with all these comments about ARM. I've used them for some years now and they've been very okay. The app is excellent especially for TB purchases. In fact their CS is such that they call at intervals asking how your experience is, and if you have any challenge. Surprising they are treating a potential customer like you this way.

Btw I have some other MF accounts: Stanbic, UCap, GT and I/one, with each having their pros and cons, but in terms of overall experience would easily rate ARM the best.

Well as for the GT which you asked, they are actually ok - the issue I have is that their website is still in its formative stage. It was only recently that you could top up via the site. Customer service is ok.

all these your accolades no concern me. The smokescreen on the MMF rates is a proven fact. I dunno about TBills and the rest. So. It's fine to rate other stuff they offer as the best but that MMF is a no-go for someone who needs value for their money.

Re: Mutual Funds by bassdow: 1:27pm On Jun 27, 2025

nickae:
Why una dey demarket ARM na
For me it's been days now, they have refuse to upgrade my account after filling both offline and online forms, with this revelation, na to leave them abeg.
Anyone using GT Fund manager? How is their service.
In another news; https://www.vanguardngr.com/2025/06/investors-appetite-jerks-up-mutual-funds-by-93-to-n5-6trn/

abeg leave GT Fund managers for now. Would suggest you retain Stanbic, FBNQuest, and maybe Norrenberger.

Me no really fancy constantly moving about like Nigerian poliThiefCians. Pick one and stick with them.

Should you notice silly things, give them a call and iron things out and if in the long run, there's little to no improvement; and you not willing to ignore, then by all means make the move.

Re: Mutual Funds by Oladele2393(m): 3:07pm On Jun 27, 2025

I want ask. When the new tax regime come into fruition. Are we going to be taxed on investment in mutual funds?

Re: Mutual Funds by alezzy13: 6:09pm On Jun 27, 2025

0ubenji:
all these your accolades no concern me. The smokescreen on the MMF rates is a proven fact. I dunno about TBills and the rest. So. It's fine to rate other stuff they offer as the best but that MMF is a no-go for someone who needs value for their money.

Lol. Bros dey vex oo.

Just for the records I don't work for them, just personal experience.

Re: Mutual Funds by alezzy13: 6:09pm On Jun 27, 2025

Oladele2393:
I want ask. When the new tax regime come into fruition. Are we going to be taxed on investment in mutual funds?

Hmm. Economists in the house.

1 Like

Re: Mutual Funds by alezzy13: 6:12pm On Jun 27, 2025

Just a final note on ARM, I've noted the quarterly payout is usually higher than the figure displayed on the website.

Again, not endorsement of any sort. Investors pls do your diligence.

Re: Mutual Funds by Jeoma2024: 8:18pm On Jun 27, 2025

I haven't used fbquest before but I don't know why I feel comfortable with them, I have been trying to open account and it is taking longer than expected, I am tired of waiting, I am thinking of united capital but when I typed in there name on Google to sign up, I will be seeing INVESTNOW, it is quite confusing

Can anyone here help me out with Fbquest
And how good is this united capital

Re: Mutual Funds by Olaxbolax100: 8:43pm On Jun 27, 2025

Hello guy, pls, I'd love to know if taxes will be deducted from the profit made from money market investment and how the new tax reform will affect it

Re: Mutual Funds by Neurotika: 9:58pm On Jun 27, 2025

Oladele2393:
I want ask. When the new tax regime come into fruition. Are we going to be taxed on investment in mutual funds?

Compensating payments under a Registered Securities Lending Transaction (in this case NGX/SEC where most of the underlying assets are traded) are exempted from (withholding) tax. It’s not a new law tho, but you can refer to section 10 (1a) of the 2024 withholding regulations for added clarity. You guys should be paying me for consultancy o

5 Likes

Re: Mutual Funds by freeman67: 11:44pm On Jun 27, 2025

Jeoma2024:
I haven't used fbquest before but I don't know why I feel comfortable with them, I have been trying to open account and it is taking longer than expected, I am tired of waiting, I am thinking of united capital but when I typed in there name on Google to sign up, I will be seeing INVESTNOW, it is quite confusing

Can anyone here help me out with Fbquest
And how good is this united capital

INVEST NOW IS the App for United Capital Asset Management. So it's correct.

Re: Mutual Funds by IllRatherNotSay: 6:18am On Jun 28, 2025

alezzy13:
Na wa o. Serious demarketing! No be small thing 😮😁

I'm surprised with all these comments about ARM. I've used them for some years now and they've been very okay. The app is excellent especially for TB purchases. In fact their CS is such that they call at intervals asking how your experience is, and if you have any challenge. Surprising they are treating a potential customer like you this way.

Btw I have some other MF accounts: Stanbic, UCap, GT and I/one, with each having their pros and cons, but in terms of overall experience would easily rate ARM the best.

Well as for the GT which you asked, they are actually ok - the issue I have is that their website is still in its formative stage. It was only recently that you could top up via the site. Customer service is ok.

The assertion is not a demarketing strategy, but rather a straightforward observation. Without ARM's actions, the current discussion would be nonexistent. Conversely, the approach taken by you seems to be marketing-oriented. While we presented a specific concern supported by evidence, it was disregarded by you in favor of positive affirmations. These affirmations do not negate the validity of our concerns. We appreciate your time.

Re: Mutual Funds by 0ubenji(m): 8:59am On Jun 28, 2025

Jeoma2024:
I haven't used fbquest before but I don't know why I feel comfortable with them, I have been trying to open account and it is taking longer than expected, I am tired of waiting, I am thinking of united capital but when I typed in there name on Google to sign up, I will be seeing INVESTNOW, it is quite confusing

Can anyone here help me out with Fbquest
And how good is this united capital

I have someone there already acting as my account officer pending the opening of my account. I can connect you, if you want but I will not be dropping his number here. If you are comfortable with it, you find a way to drop yours and I'll give it to him to make the first contact.

Re: Mutual Funds by 0ubenji(m): 9:20am On Jun 28, 2025

alezzy13:
Just a final note on ARM, I've noted the quarterly payout is usually higher than the figure displayed on the website.

Again, not endorsement of any sort. Investors pls do your diligence.

Not that you owe it to us to explain, but that assertion particularly holds no water. If you wouldn't mind sharing hard facts, what was paid to you in the last two quarters as against what you see on the dashboard, and what is the variance?
For this to make any sense, the variance in the quarterly payout vs dashboard balance must be pretty significant because the daily 2% shortchanging already amounted to a shortfall of about 900K per annum for a 45m investment capital by "IllRatherNotSay", and this sets him back by about 225k quarterly. Apologies if I'm obsessed with cold, hard facts, not blanket assertions.

1 Like

Re: Mutual Funds by Jeoma2024: 1:58pm On Jun 28, 2025*

0ubenji:
I have someone there already acting as my account officer pending the opening of my account. I can connect you, if you want but I will not be dropping his number here. If you are comfortable with it, you find a way to drop yours and I'll give it to him to make the first contact.

Ok, thank you very much

Here is my number

I will be expecting your reply

Re: Mutual Funds by madeinnigeria: 2:54pm On Jun 28, 2025

what do you guys think about stanbic balanced funds. has anybody tried it

Re: Mutual Funds by Preator: 7:46am On Jun 29, 2025

madeinnigeria:
what do you guys think about stanbic balanced funds. has anybody tried it

Lets just say my account officer called me to liquidate it immediately even when i told him i was just using the investment to gather info. He no gree

Re: Mutual Funds by emmasoft(m): 1:29pm On Jun 29, 2025

madeinnigeria:
what do you guys think about stanbic balanced funds. has anybody tried it

@madeinnigeria, note that not all mutual fund types are generally considered low risk. Balance fund is one of the mutual funds that has some level of risk involved.

The underlying assets are a combination of money market instruments like Tbills, Commercial papers, stocks, and sometimes real estate.

The performance depends largely on the NGX. Neither capital nor returns are guaranteed. However, during a bull market at the NGX, it can be very profitable and rewarding. As we already know, the higher the risk, the higher the returns and vice versa.

I will not recommend it for a newbie.

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