₦airaland Forum

enque:
I've used piggy safelock a few times and I reinvested interest, as I really didnt need the funds immediately.

No issues whatsoever

Do you have any concerns you need addressed??

Smartguyboy:
Just curious 👀 I am the only experiencing this drop from Cowrywise from 23% to 19% .

Or

Other MMF is having this drop too ?

emmasoft:
MMF Managers you can pick from

I have observed here recently that most of the new entry into the MMF investment arena are so much concerned about rate. Yes it's good to be concerned about rate but let's get it clear MMF rate is daily valued and fluctuates, so there is no particular MMF rate that can be be preferred to the other in absolute terms.

Based on the nature of the investment, the rate is always in a range in the industry which is currently between 18 to 20%; every other consideration is centered on quality of customer services, easy of navigation of investment platform, ease of redemption etc.

In terms of safety of your funds it's the same irrespective of the fund manager. Once an MMF has the following parties to the fund, you are good to go:

Fund manager licensed by SEC
Custodian bank
Trustees
Government presence (SEC)

Using some of the above cretaria I will recommend any of these:

Stanbic
Norrenberger
First Ally
First Asset
SFS though it's a fixed income fund, it's operated like MMF and the rate is most stable compare to all others. Rate has been 19.01% for about a year now.

To go with any of the firms above get in touch or click on the link on my signature for some of them.

Happy new week.

Coolis:
I thought l'm the only one on ARM platform via palmpay. I have been thinking about trying out other Mutual fund operators like stanbic or Gtb. Got about 885k on with ARM. At 20.76, l have been seeing N454 daily, which clearly shows the 20.76 is not real. From my calculation, if the 20.76 is the actual, l should be seeing above N500 daily, so that in two days, 1k should enter the capital


You should minus 10% tax from the interest

Coolis:
I thought l'm the only one on ARM platform via palmpay. I have been thinking about trying out other Mutual fund operators like stanbic or Gtb. Got about 885k on with ARM. At 20.76, l have been seeing N454 daily, which clearly shows the 20.76 is not real. From my calculation, if the 20.76 is the actual, l should be seeing above N500 daily, so that in two days, 1k should enter the capital


There is 10% withholding tax.

Chidimercy:
Please ,I know this is unrelated to this thread but I have seen that people here have good financial knowledge, I want an account I can open in trust for my children, where it could accumulate just like mutual fund and their can access the money when their are 18. Please any suggestion?

Chidimercy:
Please ,I know this is unrelated to this thread but I have seen that people here have good financial knowledge, I want an account I can open in trust for my children, where it could accumulate just like mutual fund and their can access the money when their are 18. Please any suggestion?

Chidimercy:
Please ,I know this is unrelated to this thread but I have seen that people here have good financial knowledge, I want an account I can open in trust for my children, where it could accumulate just like mutual fund and their can access the money when their are 18. Please any suggestion?

Harddiskng:
How old are they now. Money market is not bad but If their 18 years of age is far away (10 years from now), I would advise you do 100% stocks on their behalf. Or you split between MM and Stocks based on your risk appetite.

Neurotika:
I’ll suggest investing in USD-based mutual funds to at least reduce currency risk over that long period, especially if maximizing returns isn't the main goal. Establish a target savings amount, and calculate how much you'll need to contribute on a quarterly or annual basis. When the children reach the appropriate age, you can liquidate the investments. Some funds provide probate services to handle any unforeseen issues if you're no longer around by that time…you may want to consider their offerings in that regard too.

nickae:
Banks have kid's account to serve this purpose.
You can check firstbank's kidsfirst.

Chidimercy:
Just got one that is 1 year now, others are still on their way by Gods grace. How do I invest in stocks for them?

Chidimercy:
Alright, do you suggest any company I should check with. Is stanbic asset management good for this purpose?

Chidimercy:
Alright, do you suggest any company I should check with. Is stanbic asset management good for this purpose?

enque:
E go still touch everybody....lol
On a seriousnote though, stanbic and fbn edge which i use, have been trending on the 19s for a while now

Coolis:
Okay, thanks for the clarification. My daily interest on my investment with ARM even on Saturday and Sunday drop. I was wondering, does other MMF operators or companies pay interest Saturday and Sunday?

Chidimercy:
Please ,I know this is unrelated to this thread but I have seen that people here have good financial knowledge, I want an account I can open in trust for my children, where it could accumulate just like mutual fund and their can access the money when their are 18. Please any suggestion?

emmasoft:
First open a bank account for them. Some banks have account for minors.

I will suggest you use two investment windows
Money Market and stocks.

Open a money market account and pick reinvest interest option.

Also Open a stock account and buy fundamentally sound and regular dividend paying stocks also reinvest the dividend back to the stock, with this you are sure of value while they grow.

To open MMF for minor, you will need the form method.

To open stock account click the 3rd link on my signature and pick kiddies as investment type and stockbroking as the product.

You can reach out to me if you need further guidance

Chidimercy:
Thank you, I will reach out to you with the number on your profile

emmasoft:
STRATEGY TO WIN DURING LOW RATE REGIME

Low rate in the fixed income space should not translate to no investment.

The truth is that a low-interest-rate regime is actually beneficial for the economy, as long as inflation continues to decline.

How do you win during a low-rate regime?

If you must invest in fixed income, opt for mutual funds that have bonds as their underlying assets. The rate of bonds is still much better than short-term instruments like treasury bills during a low-rate regime.

If you decide to stick to MMF, try to have at least two fund managers; this will help you have an average of two different rates combined. The fund that has a more consistent upward trend in rate takes a larger chunk of your investable funds, all other things being equal.

Consider investment in stocks. Though stocks are considered risky when compared with MMF, stock investment has great returns in three ways:
1. price appreciation - buy low, sell high
2. cash dividend payment, sometimes as regularly twice or even quarterly in some stocks
3. Bonuses, ie, payment of dividend using shares instead of cash, this in turn increases your holdings without additional cash commitment from your pocket.

When you buy fundamentally sound and regular dividend-paying stocks, you are sure of your returns and able to beat inflation, hence a real return is achievable.

Also consider a Real Estate Investment Trust (REIT); there are a few in Nigeria - SFSREIT, UPDCREIT, and UHOMREIT. If you don't have huge funds to buy physical property, a REIT is the best way to go if you want to enjoy rental income without owning a property.

Instead of the MDBs, use MMF to keep your cash; it will always have a better rate than a savings account.

Try a business if you can and are available. There are more business activities during a low rate regime because the currency seems to have higher purchasing power, and businesses can borrow cheaply compared to a high inflation and high rate regime.

Remember, it's better to have a low rate, which results in low interest and keep investing, than no investment, which means no interest at all.

For more on investment matters (mutual funds and stocks), reach out to me.

I wish you all a productive week ahead.

Kingrshd3:
How can I invest in real estate REIT AND OTHERS without owning a property please can you put my through or can I have your Whatsapp contact for followups 🙏

emmasoft:
STRATEGY TO WIN DURING LOW RATE REGIME

Low rate in the fixed income space should not translate to no investment.

The truth is that a low-interest-rate regime is actually beneficial for the economy, as long as inflation continues to decline.

How do you win during a low-rate regime?

If you must invest in fixed income, opt for mutual funds that have bonds as their underlying assets. The rate of bonds is still much better than short-term instruments like treasury bills during a low-rate regime.

If you decide to stick to MMF, try to have at least two fund managers; this will help you have an average of two different rates combined. The fund that has a more consistent upward trend in rate takes a larger chunk of your investable funds, all other things being equal.

Consider investment in stocks. Though stocks are considered risky when compared with MMF, stock investment has great returns in three ways:
1. price appreciation - buy low, sell high
2. cash dividend payment, sometimes as regular as twice or even quarterly in some stocks
3. Bonuses, ie, payment of dividend using shares instead of cash, this in turn increases your holdings without additional cash commitment from your pocket.

When you buy fundamentally sound and regular dividend-paying stocks, you are sure of your returns and able to beat inflation, hence a real return is achievable.

Also consider a Real Estate Investment Trust (REIT); there are a few in Nigeria - SFSREIT, UPDCREIT, and UHOMREIT. If you don't have huge funds to buy physical property, a REIT is the best way to go if you want to enjoy rental income without owning a property.

Instead of the MDBs, use MMF to keep your cash; it will always have a better rate than a savings account.

Try a business if you can and are available. There are more business activities during a low rate regime because the currency seems to have higher purchasing power, and businesses can borrow cheaply compared to a high inflation and high rate regime.

Remember, it's better to have a low rate, which results in low interest and keep investing, than no investment, which means no interest at all.

For more on investment matters (mutual funds and stocks), reach out to me.

I wish you all a productive week ahead.

Amycanada:
Good morning guys, does Stanbic ibtc mutual fund give Certificate and statement of account for an investment showing how much was invested, period, interests and how the investment grew to its present stage, if I want to liquidate?