Mutual Funds - Investment (490) - Nairaland
Nairaland Forum › Nairaland General › Investment › Mutual Funds (1512804 Views)
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| Re: Mutual Funds by doggedfighter(f): 10:54pm On Mar 04 |
Thanos1000:Hahahahaha This guy 🤣 So you will just open an account and money will start dropping into the account for your enjoyment 😁 |
| Re: Mutual Funds by Iamblessed8888: 11:33pm On Mar 04 |
Thanos1000:😂😂No kill me with laugh oo |
| Re: Mutual Funds by david4mex: 11:43pm On Mar 04 |
Who else have noticed that Stanbic Money Market Funds deposit account is now actually a Stanbic Ibtc bank account number and GT Funds Manager deposit account is a GTB account number? I thought they said custodian accounts were different banks from the parent banks? I saw somewhere where someone said that GT Fund Manager custodian account was in Citibank while Stanbic Asset Management custodian account was in UBA and i am confused doggedfighter: |
| Re: Mutual Funds by Thanos1000: 1:09am On Mar 05 |
doggedfighter:I no know now 😂😂 |
| Re: Mutual Funds by Thanos1000: 1:09am On Mar 05 |
Iamblessed8888:😂😂 |
| Re: Mutual Funds by Thanos1000: 1:11am On Mar 05 |
bassdow:No vex boss. I stated it was gtworlds app. Did2know you did not see it The account number is 9002290959.. Abeg make Una help me check. Anyone that's using it |
| Re: Mutual Funds by Saybal(m): 5:03am On Mar 05 |
Thanos1000:what is the account name |
| Re: Mutual Funds by ZombieDredd: 5:06am On Mar 05 |
petomas:Please that imaan fund, do you have to reinvest yourself or is it automatic? |
| Re: Mutual Funds by Gratefulme: 6:14am On Mar 05 |
Does trustbanc credit interest daily? |
| Re: Mutual Funds by doggedfighter(f): 6:27am On Mar 05 |
david4mex:When did you notice this ? For me Stanbic UBA NoMs account. |
| Re: Mutual Funds by david4mex: 7:06am On Mar 05 |
I started doing Stanbic MMF last month and from the onset, the medium to fund my account is a Stanbic Ibtc account and Zest payment doggedfighter: |
| Re: Mutual Funds by david4mex: 7:11am On Mar 05 |
Yes that is the account i pay to. Its a GTB account number. The account name is Squad GTFUND Managers Thanos1000: |
| Re: Mutual Funds by emmasoft(m): 7:37am On Mar 05 |
david4mex:@davidmex, note that fund managers must inform investors of a change in collection account and collection or custodian bank must not be related to the fund manager. You used the word medium which is correct. Method or medium of funding account is different from collection account. Let's be well guided. With technology, it is common to see fund managers create a more convenient method of account funding that doesn't mean a change of collection account. Stanbic collection account remains UBA Norrenberger UBA GTB Citibank First Asset Citibank Ucap Stanbic etc. For stanbic if you transfer to the stanbic wallet given to you, that doesn't mean you have invested you have to move the money into any of the product you which to invest in except they have changed that process. |
| Re: Mutual Funds by doggedfighter(f): 8:04am On Mar 05 |
david4mex:A new development. It's good. |
| Re: Mutual Funds by Creditalerts: 8:18am On Mar 05 |
Gratefulme:yes so sweet and swift 🤑🤑🤑 |
| Re: Mutual Funds by bassdow: 8:23am On Mar 05 |
david4mex:Actually that's incorrect. What they do is, when you use the customized Stanbic Account automatically opned in your name, that fund goes to your wallet and stays there. That wallet is powered by stanbic IBTC bank. But you still need to use that money to purchase investment hence when you finally purchase any investment of your choise e.g MMF, the money now travels to UBA account. There's a reason the money appears almost instantly inside your wallet BUT when you purchase an investment, the normal waiting time still occurs. Bottom line is; Stanbic still uses UBA. The stanbic account you paid to is your wallet account number. Even according to how these fund managers operates, especially those regulated by SEC, they can not use the bank account they are affiliated to one way or the other. |
| Re: Mutual Funds by Thanos1000: 9:08am On Mar 05 |
david4mex:Thanks boss After you paid. Can u withdraw anytime u want. How does that part work |
| Re: Mutual Funds by david4mex: 9:15am On Mar 05 |
Thank you so much. This is a perfect explanation. bassdow: |
| Re: Mutual Funds by david4mex: 9:17am On Mar 05 |
Redemption (withdrawal) without penalty is 30 days Thanos1000: |
| Re: Mutual Funds by david4mex: 9:25am On Mar 05 |
Thank you. Perfectly understood. emmasoft: |
| Re: Mutual Funds by Creditalerts: 12:13pm On Mar 05 |
FAAM=21.O6%🥵🤑🤑🤑 🔥🔥🔥 ,stanbic=15.42%🙂
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| Re: Mutual Funds by Creditalerts: 12:16pm On Mar 05 |
FirstAlly topping today ,click on my signature for STL MMF registration. 🤑🤑🤑🤑 |
| Re: Mutual Funds by Preator: 1:09pm On Mar 05 |
Creditalerts:Wow, i haven't logged on in a while. Make i go check am o. |
| Re: Mutual Funds by Iamblessed8888: 1:32pm On Mar 05*. Modified: 2:01pm On Mar 10 |
Just invested 10k in this first ally to take advantage of huge rates. I will leave my main savings of 50k with stanbic for now. But this first ally app use to forget username and password o. 😡😡 bassdow drop something with first ally. We don try for stanbic 🙁🙁 |
| Re: Mutual Funds by lovewins: 2:55pm On Mar 05 |
Iamblessed8888:Is there a minimum deposit lock period? Considering them if they are flexible with withdrawal |
| Re: Mutual Funds by Bluearrow: 3:08pm On Mar 05 |
lovewins:There is no lock period for First Ally regular mmf, except the premium one with minimum deposit of 5m & holding period of 90 days I think. |
| Re: Mutual Funds by Iamblessed8888: 3:56pm On Mar 05 |
lovewins:Not sure/ someone said there isnt |
| Re: Mutual Funds by lovewins: 4:00pm On Mar 05 |
Bluearrow:What makes the premium different from the normal? Higher rates? Any extra incentive? |
| Re: Mutual Funds by Bluearrow: 4:14pm On Mar 05 |
lovewins:Premium maintains a minimum rate of 18% |
| Re: Mutual Funds by Care4: 4:25pm On Mar 05 |
The account they opened for you with those banks is just for DEPOSIT PURPOSE ONLY. They move your funds to a CUSTODIAN Bank for safekeeping. In that way, they have not broken the SEC rule. david4mex: |
| Re: Mutual Funds by Thanos1000: 4:38pm On Mar 05 |
Pls someone should explain this to me. I press on merge on gtworld app and I'm just so confuse
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