Mutual Funds - Investment (456)

Mutual Funds - Investment (456) - Nairaland

Nairaland Forum › Nairaland General › Investment › Mutual Funds (1512975 Views)

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Re: Mutual Funds by rukyboy(m): 6:11am On Jan 28

KingCassy:
Is this Trustbanc trusted?

Exactly what I'm thinking.

These fintechs springing up giving good rates to steal customers from stanbic ibtc.

Don't invest more than 5m. I guess that's the maximum you'll receive if they go under

Re: Mutual Funds by t33why: 6:40am On Jan 28

rukyboy:
Exactly what I'm thinking.

These fintechs springing up giving good rates to steal customers from stanbic ibtc.

Don't invest more than 5m. I guess that's the maximum you'll receive if they go under

We really need to know how things work especially on this side of the divide. What you just referred to is the maximum cap applicable and payable to customers of licensed MDBs by the NDIC if for whatever reason they go under. NDIC has no business with asset managers so I'm not sure where the said sum would come from.

2 Likes

Re: Mutual Funds by IamtheDef: 6:47am On Jan 28

t33why:
We really need to know how things work especially on this side of the divide. What you just referred to is the maximum cap applicable and payable to customers of licensed MDBs by the NDIC if for whatever reason they go under. NDIC has no business with asset managers so I'm not sure where the said sum would come from.

A lot of people often just put them in the same bag ,(banking and Asset management) probably because the notable ones here have banking divisions or are some offshoot of a bank, so you see people erroneously just lump them together

Re: Mutual Funds by Preator: 7:30am On Jan 28

Me i don tire to explain the multilayered approach to security for fund managers. Trustbanc only manages our funds, the funds itself is with UBA Nominees. So na UBA we should be praying doesn't fold. Even if dem fold sef, the money wasnt a deposit, it was used to buy securities, either TB(meaning govt go refund) or placement with other banks. So the money will still come back.

6 Likes

Re: Mutual Funds by ytdivine(m): 9:17am On Jan 28

Please how do I register with Trusbanc and Firstally mmf. I just want to have a taste of them. I couldn't get their App on play store.

Re: Mutual Funds by Jayce242: 9:25am On Jan 28

rukyboy:
Exactly what I'm thinking.
These fintechs springing up giving good rates to steal customers from stanbic ibtc.

Don't invest more than 5m. I guess that's the maximum you'll receive if they go under

Don't just view it as stealing customers from Stanbic, also view it as putting Stanbic on their toes to do better. Left for stanbic their mmf rate would probably be around 10% now if not for these fintech guys. We need competition in this industry to create a balance.

8 Likes

Re: Mutual Funds by Jayce242: 9:27am On Jan 28

ytdivine:
Please how do I register with Trusbanc and Firstally mmf. I just want to have a taste of them. I couldn't get their App on play store.

Both apps are on play store
Trustbanc - prime pro app
First ally- myinvestar app

1 Like

Re: Mutual Funds by IamtheDef: 9:28am On Jan 28

ytdivine:
Please how do I register with Trusbanc and Firstally mmf. I just want to have a taste of them. I couldn't get their App on play store.

Both are available in the store. Trustbanc is called Prime pro and First ally is Myinvestar

Re: Mutual Funds by ytdivine(m): 9:41am On Jan 28

IamtheDef:
Both are available in the store. Trustbanc is called Prime pro and First ally is Myinvestar

Thanks very much

Re: Mutual Funds by suckprick: 10:44am On Jan 28

Preator:
Me i don tire to explain the multilayered approach to security for fund managers. Trustbanc only manages our funds, the funds itself is with UBA Nominees. So na UBA we should be praying doesn't fold. Even if dem fold sef, the money wasnt a deposit, it was used to buy securities, either TB(meaning govt go refund) or placement with other banks. So the money will still come back.

Does this apply to all fintech? Can you say the same for cowrywise? I am thinking of putting 30m there to shop on various mmf offers on their platform especially on trustbanc doing 19%+ but I dey fear 😁. I am currently using Stanbic but the rate is not encouraging at all, I just dey use am based on level of trust. What's your advise?

Cc: beeron

Re: Mutual Funds by Preator: 10:53am On Jan 28

suckprick:
Does this apply to all fintech? Can you say the same for cowrywise? I am thinking of putting 30m there to shop on various mmf offers on their platform especially on trustbanc doing 19%+ but I dey fear 😁. I am currently using Stanbic but the rate is not encouraging at all, I just dey use am based on level of trust. What's your advise?

Cc: beeron

Me i no dey give advise o. But i have well over 100 in Cowrywise. You can infer as you please from the info. 😂

Re: Mutual Funds by Creditalerts: 11:28am On Jan 28

Fear fear people me we get over 300naira make I dey panic abi?🤣🤣🤣fintechs is here to stay better embrace it and make money 💰

Re: Mutual Funds by Creditalerts: 11:30am On Jan 28

KingCassy:
Is this Trustbanc trusted?

very trust and there customer care is active 100% SEC Approved and a nice fintech baby🥰

Re: Mutual Funds by Nobody: 11:46am On Jan 28

Preator:
Me i no dey give advise o. But i have well over 100 in Cowrywise. You can infer as you please from the info. 😂

Over 100 naira or 100m choose 1 bros cheesy

1 Like

Re: Mutual Funds by Nobody: 11:46am On Jan 28

Creditalerts:
Fear fear people me we get over 300naira make I dey panic abi?🤣🤣🤣fintechs is here to stay better embrace it and make money 💰

Na you be the head master of the fear fear republic oo no forget grin

Re: Mutual Funds by Preator: 12:40pm On Jan 28

welzyj2:
Over 100 naira or 100m choose 1 bros

Which one do u think 😂😂

Re: Mutual Funds by amnwa(m): 12:49pm On Jan 28

Please between arm and trustbanc which is best to invest for a two year period. Say with 10m

Re: Mutual Funds by Beeron: 12:53pm On Jan 28

suckprick:
Does this apply to all fintech? Can you say the same for cowrywise? I am thinking of putting 30m there to shop on various mmf offers on their platform especially on trustbanc doing 19%+ but I dey fear 😁. I am currently using Stanbic but the rate is not encouraging at all, I just dey use am based on level of trust. What's your advise?

Cc: beeron

Bros you don't need to fear. Go ahead.

Cowrywise is SEC approved and routinely monitored by SEC to ensure that whatever they invest your money in is whatever was promised to you on the app.

You very safe.

You should realize something; SEC and CBN are worried about protecting investors and bank customers fund rather than protecting the bank institution or fintec app.

This was why Opay and other fintech license was upgraded to a national one to further integrate them into the scope of CBN and SEC control.

2 Likes

Re: Mutual Funds by Beeron: 12:56pm On Jan 28*

amnwa:
Please between arm and trustbanc which is best to invest for a two year period. Say with 10m

There is a lot to consider down the line such as rates, what to invest in etc.

Forget that Trustbanc is paying highest now, Stanbic and others were paying highest before. So check what they invest in and see if the underlying investment can match to your expectation of returns in two years.

Don't stress about security, they are all secured.

3 Likes

Re: Mutual Funds by Creditalerts: 2:23pm On Jan 28

welzyj2:
Na you be the head master of the fear fear republic oo no forget

Lol no be me o I'm just conservative in nature 😁

I laff in trustbanc 🤣🤣

Re: Mutual Funds by Preator: 2:42pm On Jan 28

amnwa:
Please between arm and trustbanc which is best to invest for a two year period. Say with 10m

Just pick as the spirit leads. Trustbanc will not be highest for ever. Others don dey untop before.

Or u do like us and keep moving around

Re: Mutual Funds by Nobody: 2:59pm On Jan 28

Preator:
Which one do u think 😂😂

100m

Re: Mutual Funds by Nobody: 3:00pm On Jan 28

Creditalerts:
Lol no be me o I'm just conservative in nature 😁

I laff in trustbanc 🤣🤣

Lmao 🤣 🤣

Re: Mutual Funds by Creditalerts: 3:11pm On Jan 28

Preator:
Just pick as the spirit leads. Trustbanc will not be highest for ever. Others don dey untop before.

Or u do like us and keep moving around

Please this the best advice @bolded ✌🏾 you will love it

Re: Mutual Funds by werisetogether(m): 3:30pm On Jan 28

Creditalerts:
5000

Thanks

1 Like

Re: Mutual Funds by bassdow: 4:05pm On Jan 28

rukyboy:
Exactly what I'm thinking.

These fintechs springing up giving good rates to steal customers from stanbic ibtc.

Don't invest more than 5m. I guess that's the maximum you'll receive if they go under

Most times, they're able to achieve these things by optimizing their operations hence keeping cost of doing business low.

For instance, You can't compare cost of doing business between oPay and gtBank

Re: Mutual Funds by Preator: 4:15pm On Jan 28

Creditalerts:
Please this the best advice @bolded ✌🏾 you will love it

My greedy colleague 😂, I sight u. For this new regime, na maximum return o. I dey session on tax returns now. Investment management na full time job.

Re: Mutual Funds by Babygal2020(f): 5:13pm On Jan 28

Preator:
My greedy colleague 😂, I sight u. For this new regime, na maximum return o. I dey session on tax returns now. Investment management na full time job.

Una dey try aswear.

Only 32M wey I get for Stanbic, I no get mind to move am to Cowrywise.

Also, I'm a lady. We no too get mind.

1 Like

Re: Mutual Funds by Preator: 5:31pm On Jan 28

Babygal2020:
Una dey try aswear.

Only 32M wey I get for Stanbic, I no get mind to move am to Cowrywise.

Also, I'm a lady. We no too get mind.

I dont advise you move until you have that personal belief though, so you dont get sleepless nights. And i do have money in stanbic, FBNQUEST, First Ally and now Trustbanc directly, just that its not the volume in Cowrywise.

Additionally, i have the benefit of working as a Finance person professionally. The professional experience allows me to take some risk without waking up every night sweating.

Non-advice: any SEC regulated MMF manager is as safe as it gets in low risk investment.

Re: Mutual Funds by Creditalerts: 5:36pm On Jan 28

Preator:
My greedy colleague 😂, I sight u. For this new regime, na maximum return o. I dey session on tax returns now. Investment management na full time job.

I dey tell u no time to sit down look o,I carry my money for head dey chase MMF highest bidders 🤑🤣🤣✌🏾

Re: Mutual Funds by Creditalerts: 5:38pm On Jan 28

Preator:
I dont advise you move until you have that personal belief though, so you dont get sleepless nights. And i do have money in stanbic, FBNQUEST, First Ally and now Trustbanc directly, just that its not the volume in Cowrywise.

Additionally, i have the benefit of working as a Finance person professionally. The professional experience allows me to take some risk without waking up every night sweating.

Non-advice: any SEC regulated MMF manager is as safe as it gets in low risk investment.

stanbic?omo 🤣🤣🤣🤣🤣🤣🤣🤣 15%

Re: Mutual Funds by geoeast: 5:43pm On Jan 28

I am seeing two trustbanc on playstote.
One is "Prime by trustbanc" with 5k downloads while the second one is "prime pro" with 1k downloads.
Which one is the accurate one for mutual fund?

1 Like

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