₦airaland Forum

0ubenji:
I perhaps didn't make that part clear. I mean, I was talking about the BluNest website, where I can't find it. Yes, it's on the factsheet page but not on the mutual funds listing page.

Oh okay. Get to their website, then to products and services, under umbrella funds you will see the conservative fund among the other two in that category.

Hatrick123:
How long does it take for withdrawals on stanbic MMF (blunest) to hit once account

Within some hours if you make request before noon on a business day otherwise you get your money on the next business day.

lilsyd:
emmasoft greetings sir.

Please what's the average MMF rate as at today. UCAP has been under 20% for a couple of weeks now.

Makes we wonder.

Currently, the range is 19 to 21% in the industry.

0ubenji:
those ones have been consistently under 20%. Even when others are giving 21+. A worrying wonder it is.

I don't just understand them. It came down to 18% yesterday. Time to run from them

emmasoft:
Oh okay. Get to their website, then to products and services, under umbrella funds you will see the conservative fund among the other two in that category.

I think you are talking about Stanbic website and not BluNest's. Coz there's nothing like umbrella funds there.

Hello Everyone.

I am new here...Can the gurus please advise on which Dollar Fund/Eurobond one can invest in?

These are the options I am considering: ARM Eurobond, Nigerian Eurobond Fund by United Capital Asset Management and Stanbic IBTC Dollar Fund.

I will appreciate your insights people.

Thank you as you respond.

0ubenji:
those ones have been consistently under 20%. Even when others are giving 21+. A worrying wonder it is.

Pls I funded my stanbic money market acct with 100k and decided to withdraw 5k after few days just to test run the app and I was paid the next day. My question is, will the 20% penality come the interest 100k will give me after one month or what the 5k would have given me after one month?

TinaJoe:
Pls I funded my stanbic money market acct with 100k and decided to withdraw 5k after few days just to test run the app and I was paid the next day. My question is, will the 20% penality come the interest 100k will give me after one month or what the 5k would have given me after one month?

The penalty is always on the accrued interest on the amount you withdrew; in this case, the penalty will be 20% on the accrued interest on that 5k for the number of days it was invested in the fund.

You already paid the penalty with 20% of the interest accrued from the moment you deposited the 100k to the day of the 5k withdrawal

TinaJoe:
Pls I funded my stanbic money market acct with 100k and decided to withdraw 5k after few days just to test run the app and I was paid the next day. My question is, will the 20% penality come the interest 100k will give me after one month or what the 5k would have given me after one month?

0ubenji:
You alre paid the penalty with 20% of the interest accrued from the moment you deposited the 100k to the day of the 5k withdrawal

Hello house,

How long does it take for withdrawals on FBNQuest to hit once account.

LadyCaplin:
Hello Everyone.

I am new here...Can the gurus please advise on which Dollar Fund/Eurobond one can invest in?

These are the options I am considering: ARM Eurobond, Nigerian Eurobond Fund by United Capital Asset Management and Stanbic IBTC Dollar Fund.

I will appreciate your insights people.

Thank you as you respond.

Please understand dollar fund is not like MMF. The underlying asset is eurobonds. The fund is categorized as moderate or medium risk.

The major advantage is the hedge against inflation and devaluation of the local currency. You need to have a long-term view when investing in dollar fund. I will prefer the Norrenberger dollar fund to any of the others you mentioned, basically because of a better rate.

Thank you so much.

I will do my research on the fund you stated and yes my investment aim is to hedge against inflation, long term.

Will revert if i need any further clarification.

Thank you once again.

emmasoft:
Please understand dollar for is not like MMF. The underlying asset is eurobonds. The fund is categorized as moderate or medium risk.

The major advantage is the hedge against inflation and devaluation of the local currency. You need to have a long-term view when investing in dollar fund. I will prefer the Norrenberger dollar fund to any of the others you mentioned, basically because of a better rate.

0ubenji:
how do contact these guys. A phone support or account officer?

The chat app on their page

Tolu2024:
So other assets management are experiencing this too?

YES

Pls does anyone have idea about legacy money market fund by FCMB?

emmasoft:
Currently, the range is 19 to 21% in the industry.

Thank you so much.

You have been so helpful. Thanks for taking the time to explain a lot to me via phone.

Much Appreciated.

0ubenji:
those ones have been consistently under 20%. Even when others are giving 21+. A worrying wonder it is.

I actually reached out to raise the concern, and their initial response was that the companies offering higher rates were relatively small outfits that might not be sustainable in the long run. I found that amusing. But once I mentioned Stanbic, the tone shifted — suddenly the difference in rates wasn’t "so significant," and there were reassurances that they would bounce back soon.

..might be time to reconsider options.

lilsyd:
Thank you so much.

You have been so helpful. Thanks for taking the time to explain a lot to me via phone.

Much Appreciated.

Thank you for the kind words.

lilsyd:
I actually reached out to raise the concern, and their initial response was that the companies offering higher rates were relatively small outfits that might not be sustainable in the long run. I found that amusing. But once I mentioned Stanbic, the tone shifted — suddenly the difference in rates wasn’t "so significant," and there were reassurances that they would bounce back soon.

..might be time to reconsider options.

You must really love them so much to waste productive and airtime calling them to lick your ears with oily lies.
When it comes to getting value for your hard-earned money, you had better be ruthless in your decision rather than being a fanboy.

I noticed stanbic did not add any interest to my money market acct today. I think it's because of the public holiday but is this how others operate or just stanbic?

TinaJoe:
I noticed stanbic did not add any interest to my money market acct today. I think it's because of the public holiday but is this how others operate or just stanbic?

Observed same ...

Please house how long does it take for withdrawal made in from stanbic mutual fund account to be received.Its been two days now.

Tolu2024:
First time I am into real estate I buy and sell property but my money short so I decide instead of leaving it in my account with no interest let me invest it.
I wanted to buy TBills . Went to different banks non seem interested to listen to me or take me serious I guess they thought I am too small because of my stature . So I decided to do little research about mmf and best firm to use .

Have you heard of the Bamboo APP??

Hatrick123:
Please house how long does it take for withdrawal made in from stanbic mutual fund account to be received.Its been two days now.

I think the public holiday today must have affected it, so u will get it tomorrow

nickae:
I think the public holiday today must have affected it, so u will get it tomorrow

thanks alot for your response

nickae:
I think the public holiday today must have affected it, so u will get it tomorrow

Hopefully they don't have pill up of works that might cause further delay(s)

Any one here subscribed to the ARM MMF on palmpay?.

I just wanna know if I'm on the safer side or I should register directly with the ARM MMF app

BuchyD:
Any one here subscribed to the ARM MMF on palmpay?.

I just wanna know if I'm on the safer side or I should register directly with the ARM MMF app

I sincerely think you should do it on the ARM MMF app directly

BuchyD:
Any one here subscribed to the ARM MMF on palmpay?.

I just wanna know if I'm on the safer side or I should register directly with the ARM MMF app

Not worth it. I've tried their smartearn offering, which is basically ARM mmf through their transsnet assets management.

1. The actual interest paid is lower than the advertised rate.

2. There's a lack of transparency regarding interest calculation and the rates applied. They just show you the amount.

3. They charge an outrageous processing fee, 1% of your capital (up to ₦3,000). Although Palmpay Premium members get one free purchase per month.

4. Interest can be unpaid for up to five days after funding your account.

I use Cowrywise now and I've had seamless experience with them.

Thank you👍👍

yusfatedeeprof:
Not worth it. I've tried their smartearn offering, which is basically ARM mmf through their transsnet assets management.

1. The actual interest paid is lower than the advertised rate.

2. There's a lack of transparency regarding interest calculation and the rates applied. They just show you the amount.

3. They charge an outrageous processing fee, 1% of your capital (up to ₦3,000). Although Palmpay Premium members get one free purchase per month.

4. Interest can be unpaid for up to five days after funding your account.

I use Cowrywise now and I've had seamless experience with them.

obinnazy:
Have you heard of the Bamboo APP??

No