₦airaland Forum

LoriHamo:
I actually entered before the "merging"

LoriHamo:
Na wao....

Not updating daily is a recipe for "scam" abeg....

Infact....it should be updated at the close of work sef...

Cowrywise update my Equity as e dey hot for NGX "market "

Gtbank update before 5:pm

Cardinal update before 8:pm

Stanbic update @12:am

Anyone that can't show me my funds performance soonest is not for me

Iamblessed8888:
Infact even if some fund managers are doing 100%, i no do 😂😂. Fund administration is more important for me than fund performance.

Someone was complaining on the other group that you see different amount when you click different places on one app like that 😂😂

freeman67:
Yes, It is an ongoing issaunce for 364 days. Which is to start counting from March 5th.

The major disadvantage to it is that it is not secured. Which makes it more risky than TB and some secured or asset backed one.

The second is the 10% WHT deduction. Which will make that 18.7088 later be about 16.8379 but then all other instruments like it are deducting too.

Lastly your Inability to access your funds till it matures except you completely liquidate at FMDQ or whatever it is listed, if listed. So you should be sure you will leave it till maturity if interested so astl not to street yourself.


That said, personally I would have invested in it if I had the funds but right now I don't. Majority of my funds are invested in other CP's. It's part of the ways I take my own risks.

CP is one of the underlying assets of MMF's. Infact majority of these high rates we see from some of these other Asset Managers are from the CP's, PN's and call deposits and co. Though it requires some due deligence too. The track record of the issuer, the arranggers and agents marking them, perusing their financials to see the possibility of your funds coming out, their ratings and so on are all important. I have personally invested twice in Daraju CP's and was paid at maturity without issues.

Like TB's, CP's are short term deposit too. Difference is that TB is issued by government and CP's are issued by companies. Government have a higher capability of paying back. However, the SEC, and the arrangers and agents will want the financial markets to be safe for investment by others and their brands too worth believing so they are the first to scrutinize the issuers ability before marketing it to customers and allowing the listing, if the issuer meets the requirements.

MMF rates are set daily meaning if your are enjoying 20% now, it's not guaranteed for the week. Any rate locked in on CP remains minus deduction of 10% WHT.

Also, most time the yield is always more that the rates you see. The yield there is about 23% and what you see and calculate is what you get no no deductions of management fees, handling charges by anybody.

If you were to do just the minimum of 5M for the 364 collecting your interest upfront will be about N839,589 after WHT and N1,032,000 after WHT if your decided to roll over with the interest. Divide these 2 sum above and see, either 365 for daily rates, 12 for monthly rates and 4 for quarterly rates and see what you then you can also compared with your MMF. So for me it's worth it.

For me also, I do them directly with the arrangers and agent when I do, so I don't incurr any extra cost other thank transfer charge and stamp duty from my end and WHT from their end at maturity.

Batman2412:
Go for high mmf rate. Low rate doesn't automatically translate to better economy and low inflation in Nigeria. Now Stanbic and UCAP have been dishing out 15% cos Cardi B...sorry, Cardoso, said inflation is low so he cut down MPR. Dangote just increased fuel price. Barrel of crude just increased cos of the US-Isreali airstrike on Iran. This translates to higher inflation. So why choose low mmf rate?

Creditalerts:
If I tell you my own u go shiver o🤣the money I'm earning from trustbanc and STL MMF everyday with their rate hmm infact I'm doing a project with it ,I pray God should make it permanent 🙏🏿

doggedfighter:
Wow, project just from earnings.

You must have up to a billion there .

Wow !

Thanos1000:
Good morning everyone
I'm New to this mutual funds. Have been reading pages non stop. So i decided to go to my bank and do the same. Upon getting there i was given a number to reach out to...
So I'm here to ask everyone with knowledge about it if what my bank did is appropriate. I haven't reach out to the number yet. I want to know if this is how y'all do it... Pls i need reply

Bluearrow:
If u have been reading this page non stop, how come u still went to the bank? What has mutual fund got to do with bank?

Thanos1000:
There were some people that asked about how to start and they were directed to go to their banks. That was why i did the same thing

Thanos1000:
There were some people that asked about how to start and they were directed to go to their banks. That was why i did the same thing

Bluearrow:
Mutual fund has no business with banks, rather bank will tell u to put your money in fixed deposit. That was why they referred u to someone. Everything u need to start mutual fund is on this thread. Search this guy profile; emmasoft, use the link on his profile to register for any mutual fund of your choice & contact him on Whatsapp if u need any help. He was helpful to some of us when we got started. You don't need any bank.

LoriHamo:
You can actually get info in Stanbic IBTC and GTBank customer service IN THE BANK.... about their MMF...
I went to bank. Met a staff and she gave me a number to message. That's why I'm here to ask whoever have done it maybe it's like that

Bluearrow:
If u have been reading this page non stop, how come u still went to the bank? What has mutual fund got to do with bank?

Thanos1000:
Good morning everyone
I'm New to this mutual funds. Have been reading pages non stop. So i decided to go to my bank and do the same. Upon getting there i was given a number to reach out to...
So I'm here to ask everyone with knowledge about it if what my bank did is appropriate. I haven't reach out to the number yet. I want to know if this is how y'all do it... Pls i need reply

AncestralPowers:
Hmmm it seems Norrenberger rate for today is 113%, abi na my phone dey deceive me?

My kids always play with my phone.

bassdow:
probably they chose to pay 2-days worth of interet out of the almost 7-days worth of backlog.

Another is, hope it's not an ERROR which means there's every chance they would correct it soon

AncestralPowers:
Yeah, you might be right, although I know Norrenberger sometimes perform magic on their daily rate and it remains fixed. Just that some of us are not too used to high rates like this....

Just imagine say na money ritual you go do, you gonna need so many heads and body parts to get 113%

petomas:
It’s so pathetic I swear. Just saw my interest for February today and discovered it was even smaller than what I earned in January even though the interest for January was compounded plus new top ups. I’m moving my MMF in Stanbic IBTC to their Imaan fund tomorrow by God’s grace at least they have done over 25% increase just this year alone.

bassdow:
truth be told, you either could go to a bank (for fund manager affiliated with banks e.g Stanbic, GTB, firstBank, etc) or open it yourself via their website / mobile app.

It's just like registering for Jamb. You either do it yourself via their website or you go to a business Center to assist you.

Now since you have done lots of READINGs, I presume you already know what MMF is but in case you don't; it's basically giving the fund manager your money for some time to earn interest at rates higher than what your bank savings would ever give you.

e.g 15.6% of 100,000 naira is 15,000 naira. Imagine when you save more than 100,000 naira and guess what, you can take your money almost anytime you want actually between 3-hours to 24 to 48 hours again depending on the fund manager.

Interest rates vary with some promising higher rates. You could get rates from 15% to 20% depending on the fund manager.

To get started with one of them, go to https://www.stanbicibtcfundsmanagement.com/invest-now-l8yyj3l8 and fill the form. There's another Norrenberger which promises between 17% and 18%, firstAlly currently doing about 18%, etc.

Get started with one, then feel free to add more as you learn and move ahead.

Thanos1000:
Thanks boss
Really appreciate. I opened the app already and locate the MMF. Went through all the process but it says I'll transfer the money to another account.. Had to hold on right there. Thought I won't be transferring any amount and it'll just to be to register and that's it... Pls is it how it use to be

LoriHamo:
Hahahaha.... are you not going to FUND the portfolio?

Meanwhile.....be explicit so you can get help....


Which account did you open
Which app
Which account were you asked to pay to?( Usually, the custodian is always different from the initiating "bank" Incase of Stanbic(UBA) I think Gtbank is Citi Bank or so

Thanos1000:
Thanks boss
Really appreciate. I opened the app already and locate the MMF. Went through all the process but it says I'll transfer the money to another account.. Had to hold on right there. Thought I won't be transferring any amount and it'll just to be to register and that's it... Pls is it how it use to be

Thanos1000:
Thanks boss
Really appreciate. I opened the app already and locate the MMF. Went through all the process but it says I'll transfer the money to another account.. Had to hold on right there. Thought I won't be transferring any amount and it'll just to be to register and that's it... Pls is it how it use to be

bassdow:
Have you registered and able to log-in ?

if you have, there are only 2 valid bank accounts to make payment (transfer) to; one is a customized stanbic IBTC bank account in your name WHILE the other is a general collection account below

Account Number: 1023413552
Bank Name: UBA
Account Name: NOM FIRST TRUSTEES STANBICIBTC MONEY MARKET FUND-COLLECTION A/C


Above details are for stanbic IBTC, if you registered with another fund manager e.g Norrenberger, firstAlly, etc; kindly do let us know

Iamblessed8888:
Opening the account only is not where investment stops. You mean you Just want to open the account and keep checking it daily for the millions to drop 😁😁

Thanos1000:
Na wetin i thin2be that 😂😂. Until it says I'll have to do transfer. Na why i run come here oo😂