₦airaland Forum

bassdow:
Going to the bank is similar to Going to a JAMB registration center just to register for JAMB - You would end up introducing a 3rd part (middle) man to do for you, what you ought to have done for yourSelf. Worse still, you go spend money join

heavenisreal18:
Pls I have open the app but is saying I can't invest that I should upgrade my account and when I click on update is saying no network available

Neurotika:
Do you have an idea what their fees are and the ease of redemption and top ups. Their published historical performance has been the most impressive I’ve seen. I think Meristem and Coral (FSDH) are also underrated based on what I’ve seen so far.

FRANKLYex:
Their Fees- Before I got upgraded to the current level with no fee to fund my account, it used to be N250 and N50 when you place a withdrawal. I'm not aware of other fee aside these 2
Ease of Redemption- I have to delay my response because I actually placed my first withdrawal yesterday around this time and exact 24 hrs as they stated, I have got the alert. So it's seamless To top up is as well very seamless

A305:
As regards this your fear, I see that some other persons here has replied well to your concern but I feel the need to educate you simplistically so you can educate others in your circle or offline.


MMF, regardless of the (brand/bank name) is a pool of investors that an asset management (brand/bank), collect their all their money to invest in low risk investment mostly Government Tbills, fixed deposits and commercial paper.

Note—Commercial paper isn't entirely low risk, which is why the least allocation of funds goes to it. And most fund are usually allocated to Tbills.

Enter Tbills.Tbills or Treasury bills is government way of issuing promisory note to collect money and pay back shortly within a year. Government can never default or go penniless broke to pay back and in worst case scenario, they will print money to payback debt. The only way you won't get your money back is if Nigeria ceases to exist. (Shout out to Trump and Putin massive number of Nuclear war head), those can really wipe out a country.


Now the reason why rates fluctuate is because of MPR & Inflation rate (Assignment: go learn the full meaning of MPR and submit your assignment here.)

Anyways, MPR in one word means Interest rate, so what happens is; If Nigeria inflation number is high, CBN will increase MPR and Increase Tbills yield to force inflation to come down. This is what has been happening since last Quarter of 2024 till now.
So, when Tbills yield is up, MMF rates will shoot up too because the buck of money invested in MMF is in Tbills. Then you will begin to smile like Dangote lol


What CBN is essentially doing is mopping up and raking in excessive money in circulation. People like me and your will rush to invest in Tbills or MMF for high yield gain but CBN motive is to get rid of our money in circulation.


So back to now: MMF interest is failing, what is happening?


What happened was: Following the last MPC, CBN began to maintain the same MPR for banks, they rebased our inflation from 2009 to 2014 first and secondly rebased our GDP to 2019.

Drum roll ... Ghen,Ghen, Ghen, Ghen..., suddenly inflation numbers began to fall since the second quarter of this year.

Investors like us saw it coming, this was why I made a comment post here in the past two thread page before this one, that MMF rates will soon cool down, a couple of guys type jargon at me but I was smiling offline reading their replies. Anyways, what is happening is Inflation numbers are cooling down, CBN is starting to reduce yield on Tbills, hence MMF rates will reduce too. Thanks to Cardoso Aka Cardi-B.


Why did I take my time to type this much?

I just wanted you to understand that this is normal and this happens in circle, you only being aware of it now because your MMF investment is teethered to the health of the economy and inflation numbers just like the performance of altcoins is anchored to Bitcoin.

Don't panic, Don't pull your money from fund manager 1 to fund manager 2 because they are all experiencing the same shift and transition in the economy. What you should focus instead is the 9th wonder of the world which Albert Einstein called, Compound interest on your MMF.


Peace out.

monikulapo:
Thanks very much for this ELI5. So far from my observations a lot of the transactions are not instantaneous. Please which mutual fund or platform would you advise if I’m looking for medium to high risk investments with little platform downtimes ?

bassdow:
I have never used their app. I always use their website.
Another reason I suggested you use their website first, is so you understand the layout. There are some links that could misDirect you BUT that doesn't mean all is not well.

Also, if you just registered, wait till you've gotten your e-Account number and password

heavenisreal18:
Thank you pls share me the link

bassdow:
https://www.stanbicibtcfundsmanagement.com/invest-now-l8yyj3l8

bassdow:
https://www.stanbicibtcfundsmanagement.com/invest-now-l8yyj3l8

A305:
Go on Bamboo.

Go and buy dividend payinging ETFs or growth S&P500 stocks.

That way, you killing 3 birds with 1 stone.

1 - you hedging against Nigeria inflation

2 - You hedging against forex exchange

3 - You enjoying dividend.

Bonus point - Keep compounding and you won't be broke for life. Even your children will inherit and keep earning your dividends after you pass on.

An alternative

If you have real money; not the kind of chicken change I have oooo. I mean real money (Block money), the kind money that when you deposit it in a bank, Branch manager or regional manager will be calling to check in on you, sending your account statements through a gorgeous female bank staff to your house. Thank kind money — I will suggest you hand the money to hedge fund manager, go home to sleep and stop dragging MMF rates with us lol

monikulapo:
I appreciate this. So Bamboo and dividend paying ETFs over mutual funds ?
Please correct me if I’m wrong, I thought mutual funds managers were the Nigerian version of ‘Hedge funds’ ?

FRANKLYex:
This is the actual with STANBIC having factored in their monthly reinvestment scheme.

synoble:
Hi Franklyex

Please where did you fetch this rates from.
It appears to be different from what is seen on my blunest app when I navigate to the 'fund price' section.

For Aug 1, 4 & 5 I'm seeing 20.01, 20.01 & 19.65 respectively.

Could it be that these asset managers are maintaining different rates for their clients depending on their capital. I hope not.

Cc: emmasoft

heavenisreal18:
Pls do I still need to be at the bank to submit NiN, utilities passport

heavenisreal18:
Thank you
I am having challenge to upload the signature

A305:
Frankly, in the world of Equities. It's not worth deeping your toes into dividend paying stocks if you don't have the financial muscle. And I mean huge financial muscle. Billionaires that buys so much of it and measures thier worth with it are not fools. But for growth S&P 500 and ETFs, you don't need too much money.
.

emmasoft:
@synoble rates of mutual funds particularly MMF doesn't depend on the amount invested and don't vary from client to client. Whatever is displayed applies to all irrespective of the amount invested and the rate is daily valued depending largely on the underlying asset

synoble:
Thank you...Exactly my thought. But the rates Franklyex shared was different when I compared to the rates on the blunest app.hence my surprise

FRANKLYex:
It has been established here that apart from Cowrywise that applies the rate the publish on their site each day without any variation, every other fund manager are not very transparent in this aspect. What I have published up there is the actual which you can verify yourself. It's a simple calculation. Apply the rate on your principal and multiply by 365. Let me know if you have what they published on their site as the rate. I don't know how they do their calculation. Only Cowrywise tallies per time

bassdow:
I have never used their app. I always use their website.
Another reason I suggested you use their website first, is so you understand the layout. There are some links that could misDirect you BUT that doesn't mean all is not well.

Also, if you just registered, wait till you've gotten your e-Account number and password

heavenisreal18:
Pls how will I get the e-account and password, will the bank be the one to send it to me
Secondly ,is it okay to use the same bank for my withdrawals or I should use another account for withdrawal.
Thank you

A305:
Go on Bamboo.

Go and buy dividend payinging ETFs or growth S&P500 stocks.

That way, you killing 3 birds with 1 stone.

1 - you hedging against Nigeria inflation

2 - You hedging against forex exchange

3 - You enjoying dividend.

Bonus point - Keep compounding and you won't be broke for life. Even your children will inherit and keep earning your dividends after you pass on.

An alternative

If you have real money; not the kind of chicken change I have oooo. I mean real money (Block money), the kind money that when you deposit it in a bank, Branch manager or regional manager will be calling to check in on you, sending your account statements through a gorgeous female bank staff to your house. That kind money — I will suggest you hand the money to hedge fund manager, go home to sleep and stop dragging MMF rates with us lol

Enyinne:
Pls ,where bank accept dollar funds .Any idea of the rate ? Pls share with me . The funds is for future use so I can be advised appropriately.

Note : on further reading,I can deduce that stanbic ibtc has dollar dominated funding. I don't know if it's still in existence.

emmasoft:
Thanks for ur response..
Are they same with stanbic ibtc?
Does stanbic run same dollar funding?
If so ,at what percentage.
The rate is not really a concern but safety of my funds as its for my son's master's degree in the next 4yrs so save keeping us of utmost importance and not interest rate.

I hv never heard of any commercial bank with the Norrenberger so am not comfortable with them .
You can use Norrenberger for your dollar fund.

Two reasons for picking them

Rate is higher compared to others current it's 9%

They accept dollar cash deposit into their dollar collection account which is stanbic ibtc bank.

Find account opening form attached.

You can also reach out, my number is on my signature

A305:
As regards this your fear, I see that some other persons here has replied well to your concern but I feel the need to educate you simplistically so you can educate others in your circle or offline.


MMF, regardless of the (brand/bank name) is a pool of investors that an asset management (brand/bank), collect their all their money to invest in low risk investment mostly Government Tbills, fixed deposits and commercial paper.

Note—Commercial paper isn't entirely low risk, which is why the least allocation of funds goes to it. And most fund are usually allocated to Tbills.

Enter Tbills.Tbills or Treasury bills is government way of issuing promisory note to collect money and pay back shortly within a year. Government can never default or go penniless broke to pay back and in worst case scenario, they will print money to payback debt. The only way you won't get your money back is if Nigeria ceases to exist. (Shout out to Trump and Putin massive number of Nuclear war head), those can really wipe out a country.


Now the reason why rates fluctuate is because of MPR & Inflation rate (Assignment: go learn the full meaning of MPR and submit your assignment here.)

Anyways, MPR in one word means Interest rate, so what happens is; If Nigeria inflation number is high, CBN will increase MPR and Increase Tbills yield to force inflation to come down. This is what has been happening since last Quarter of 2024 till now.
So, when Tbills yield is up, MMF rates will shoot up too because the buck of money invested in MMF is in Tbills. Then you will begin to smile like Dangote lol


What CBN is essentially doing is mopping up and raking in excessive money in circulation. People like me and your will rush to invest in Tbills or MMF for high yield gain but CBN motive is to get rid of our money in circulation.


So back to now: MMF interest is failing, what is happening?


What happened was: Following the last MPC, CBN began to maintain the same MPR for banks, they rebased our inflation from 2009 to 2014 first and secondly rebased our GDP to 2019.

Drum roll ... Ghen,Ghen, Ghen, Ghen..., suddenly inflation numbers began to fall since the second quarter of this year.

Investors like us saw it coming, this was why I made a comment post here in the past two thread page before this one, that MMF rates will soon cool down, a couple of guys type jargon at me but I was smiling offline reading their replies. Anyways, what is happening is Inflation numbers are cooling down, CBN is starting to reduce yield on Tbills, hence MMF rates will reduce too. Thanks to Cardoso Aka Cardi-B.


Why did I take my time to type this much?

I just wanted you to understand that this is normal and this happens in circle, you only being aware of it now because your MMF investment is teethered to the health of the economy and inflation numbers just like the performance of altcoins is anchored to Bitcoin.

Don't panic, Don't pull your money from fund manager 1 to fund manager 2 because they are all experiencing the same shift and transition in the economy. What you should focus instead is the 9th wonder of the world which Albert Einstein called, Compound interest on your MMF.


Peace out.

bassdow:
Your eAccount and password would be sent to your email address. Since it's weekend, it might arrive Monday or Tuesday or today sef.
Secondly, that you opening an investment account with Stanbic IBTC, doesn't mean you must use a stanbic IBTC account. The investment company is not same as the Stanbic IBTC bank you know where people go to deposit or withdraw their money. They are completely different hence one could fold while the other remains. So yea, you could use your firstBank, or gtBank, etc account.

blessedchild234:
Good morning have anyone been able to access Thier blunest or Stanbic Bank mutual funds account here's the response I keep getting, same as the new app.

blessedchild234:
Good morning have anyone been able to access Thier blunest or Stanbic Bank mutual funds account here's the response I keep getting, same as the new app.