₦airaland Forum

omotola224:
Good morning house
I want to start my mmf journey and I want to go with a good bank to start or any other applicable institution

I don’t mind splitting into two or 3 places
So I am asking my seniors here
Which do you highly recommended
Thank you

@omotola224. In addition to what others have posted, let me repeat the post below with very little modification. I first shared it here last year or so - Some Reasons I will Prefer MMF to TBills

You can start MMF with a much lower amount compared to tbills. With 5,000 or even less, you can start investing in most of the mmf by different fund managers. The least for tbills is 100k.

When rate increases, it will not affect already invested funds in tbills but it does with mmf

You can't top up with tbills. Top up is very possible with mmf even if you want a daily top-up.

Terminating before tenor expiration in TBills comes with penalties. For mmf, after just 30 days, exit is without penalties.

MMF has other instruments, like commercial papers, that contribute to its rate.

You can easily automate reinvestment of interest in mmf ie taking advantage of the power of compound interest.

It's the investor that determines mmf tenor hence you can hold mmf as long as you wish no restrictions, tbills particularly primary auction has fixed tenors of 3 months, 6 months, or 1 year.

Right now, most MMF rates in the industry are higher than the Tbills rate of different tenors.

One can actually put MMF to different uses - check one of my earlier posts as well on how investors put MMF to work for them.

However, that is not to say tbills is a bad investment. The one you pick, mmf or tbills, actually depends on the reason for investing, among other factors that are most times peculiar to the investor.

To state categorically that one investment is better than another is not entirely accurate. Choosing an investment option should not be based on returns alone. Several factors come into play, including risk tolerance, investment objectives (i.e., the purpose of the investment), age, level of financial knowledge, and even prevailing economic and political conditions.

As a result, many investors adopt a diversified approach, spreading funds across different investment vehicles to manage risk and avoid the common pitfall of putting all their eggs in one basket.

From experience, most investors maintain exposure to a mix of instruments such as Treasury Bills, Bonds, Money Market Funds (MMFs), Commercial Papers, and equities. However, they often allocate more funds to the options they are most comfortable with, based on the factors mentioned above.

In your case, since you are already familiar with Treasury Bills and fintech platforms, exploring a Money Market Fund is a sensible next step. MMFs typically align well with Low to moderate risk profiles and also provide indirect exposure to instruments like Treasury Bills and Commercial Papers.

Ultimately, the best investment choice is one that aligns with your comfort level and financial goals.

You are welcome to reach out if you need further clarification on money market instruments or stocks.

Good day all.

Please who can help me with a contact of someone in United Capital.

I need to complete my KYC. They have not been responding to mails since last week. No response from their WhatsApp channel either.

I think their customer service is terrible.

gabscity:
Good day all.

Please who can help me with a contact of someone in United Capital.

I need to complete my KYC. They have not been responding to mails since last week. No response from their WhatsApp channel either.

I think their customer service is terrible.

Is there a condition that makes it absolutely compulsory for you to use UCAP? if they are unresponsive now, what happens when you have to reach them at some point again in the future. I'm not even sure anyone here will recommend UCAP

IamtheDef:
Is there a condition that makes it absolutely compulsory for you to use UCAP? if they are unresponsive now, what happens when you have to reach them at some point again in the future. I'm not even sure anyone here will recommend UCAP

So, i already used them. I need to liquidate the investment seeing that their Customer service is poor.

gabscity:
Good day all.

Please who can help me with a contact of someone in United Capital.

I need to complete my KYC. They have not been responding to mails since last week. No response from their WhatsApp channel either.

I think their customer service is terrible.

They have the worst customer service of all asset managers.

gabscity:
Good day all.

Please who can help me with a contact of someone in United Capital.

I need to complete my KYC. They have not been responding to mails since last week. No response from their WhatsApp channel either.

I think their customer service is terrible.

I am using them and so far, they are good.

United capital whatsapp number - 08168282396
Ucap representatives -

Nurudeen - 08037252044
Adedayo - 08141326202

Hello, have you gotten your funds from Stanbic mmf yet?

overeighteen:
Hi everyone I liquidated some funds since yesterday from stanbic mmf up till now it has not dropped into my account.

I have emailed them but no response.

Any suggestions cos I need funds urgently.

Pls where can I find the post on how investors put MMF to work for them?

emmasoft:
@omotola224. In addition to what others have posted, let me repeat the post below with very little modification. I first shared it here last year or so - Some Reasons I will Prefer MMF to TBills

You can start MMF with a much lower amount compared to tbills. With 5,000 or even less, you can start investing in most of the mmf by different fund managers. The least for tbills is 100k.

When rate increases, it will not affect already invested funds in tbills but it does with mmf

You can't top up with tbills. Top up is very possible with mmf even if you want a daily top-up.

Terminating before tenor expiration in TBills comes with penalties. For mmf, after just 30 days, exit is without penalties.

MMF has other instruments, like commercial papers, that contribute to its rate.

You can easily automate reinvestment of interest in mmf ie taking advantage of the power of compound interest.

It's the investor that determines mmf tenor hence you can hold mmf as long as you wish no restrictions, tbills particularly primary auction has fixed tenors of 3 months, 6 months, or 1 year.

Right now, most MMF rates in the industry are higher than the Tbills rate of different tenors.

One can actually put MMF to different uses - check one of my earlier posts as well on [b]how investors put MMF to work for them.[/b]

However, that is not to say tbills is a bad investment. The one you pick, mmf or tbills, actually depends on the reason for investing, among other factors that are most times peculiar to the investor.

To state categorically that one investment is better than another is not entirely accurate. Choosing an investment option should not be based on returns alone. Several factors come into play, including risk tolerance, investment objectives (i.e., the purpose of the investment), age, level of financial knowledge, and even prevailing economic and political conditions.

As a result, many investors adopt a diversified approach, spreading funds across different investment vehicles to manage risk and avoid the common pitfall of putting all their eggs in one basket.

From experience, most investors maintain exposure to a mix of instruments such as Treasury Bills, Bonds, Money Market Funds (MMFs), Commercial Papers, and equities. However, they often allocate more funds to the options they are most comfortable with, based on the factors mentioned above.

In your case, since you are already familiar with Treasury Bills and fintech platforms, exploring a Money Market Fund is a sensible next step. MMFs typically align well with Low to moderate risk profiles and also provide indirect exposure to instruments like Treasury Bills and Commercial Papers.

Ultimately, the best investment choice is one that aligns with your comfort level and financial goals.

You are welcome to reach out if you need further clarification on money market instruments or stocks.

08168282396: United Capital Customer Service. Call or WhatsApp

gabscity:
Good day all.

Please who can help me with a contact of someone in United Capital.

I need to complete my KYC. They have not been responding to mails since last week. No response from their WhatsApp channel either.

I think their customer service is terrible.

Christie171:
Pls where can I find the post on how investors put MMF to work for them?

@Christie171, check my post on this thread for the whole of January 2025 it should be there.

Hello Everyone,

Please is there anything going on with First Asset Management?
I redeemed funds from my mutual funds account for one week now and I'm yet to receive this fund in my bank account. I have emailed and called several times and I keep getting the same emails from several members of their customer service staff that they are working on it and would revert. This is not normal and unacceptable.

Please what can I do to get a father resolution to this issue.
Please assist.

Ezeanna:
Hello Everyone,

Please is there anything going on with First Asset Management?
I redeemed funds from my mutual funds account for one week now and I'm yet to receive this fund in my bank account. I have emailed and called several times and I keep getting the same emails from several members of their customer service staff that they are working on it and would revert. This is not normal and unacceptable.

Please what can I do to get a father resolution to this issue.
Please assist.

Since they got bought over by the new company, they have been misbehaving. Before when you paying money to their collection account, all you have to do is to input your MMF number on the remark/reason for payment column and you MMF account will be credited that day. Now, after payment you must send them an email if not the money will not reflect.

Maybe what you will do is to reply by copying the dedicated email of their staff responding to your messages informing them that you haven't received it after so so days after your complaint. That might force their hands to act..

When I come to this thread seeing people lamenting about fund managers for mmf, I wonder if they signed an oath! Why go through all these stress of sending emails up & down when u can do this with myinvestar fund manager effortlessly? I'm not here to promote myinvestar mmf, but I don't get why go through so much stress when there is a very stress free one.

Anyone using myinvestar here will confirm what I'm saying. You top up 11:55pm on a Sunday, your funds will reflect immediately & it will earn profit the following day. Withdrawal & deposit is instant. No holding period. Everything is easy & smooth. I don't understand why people like stress, sending emails & begging for fund managers to release your funds. Apart from first ally myinvestar, I don't think I can use any other fund manager for mmf anymore. I have never had any single reason to contact their customer support ever since I joined them.

Bluearrow:
When I come to this thread seeing people lamenting about fund managers for mmf, I wonder if they signed an oath! Why go through all these stress of sending emails up & down when u can do this with myinvestar fund manager effortlessly? I'm not here to promote myinvestar mmf, but I don't get why go through so much stress when there is a very stress free one.

Anyone using myinvestar here will confirm what I'm saying. You top up 11:55pm on a Sunday, your funds will reflect immediately & it will earn profit the following day. Withdrawal & deposit is instant. No holding period. Everything is easy & smooth. I don't understand why people like stress, sending emails & begging for fund managers to release your funds. Apart from first ally myinvestar, I don't think I can use any other fund manager for mmf anymore. I have never had any single reason to contact their customer support ever since I joined them.

Wow. This is commendable

I will try this out. What's their current mmf rate?

Bluearrow:
When I come to this thread seeing people lamenting about fund managers for mmf, I wonder if they signed an oath! Why go through all these stress of sending emails up & down when u can do this with myinvestar fund manager effortlessly? I'm not here to promote myinvestar mmf, but I don't get why go through so much stress when there is a very stress free one.

Anyone using myinvestar here will confirm what I'm saying. You top up 11:55pm on a Sunday, your funds will reflect immediately & it will earn profit the following day. Withdrawal & deposit is instant. No holding period. Everything is easy & smooth. I don't understand why people like stress, sending emails & begging for fund managers to release your funds. Apart from first ally myinvestar, I don't think I can use any other fund manager for mmf anymore. I have never had any single reason to contact their customer support ever since I joined them.

234ng44uk:
I will try this out. What's their current mmf rate?

Usually between 17-18%

Please help out, does anyone here use ARM financials (money market mutual funds) I want to pull out from Stanbic because their yield has been hovering around 15% for over 2 months whereas I can get a better deal. Please any review on ARM or advise on a better fund managers i can port to. I am keen on higher yield and stability of the company

Hello, I use ARM and as at today, their rate is 17.2% as displayed. I have deposited and made a withdrawal too. I would say they are pretty much ok, nothing crazy in terms of deposits and withdrawal but with most systems in Nigeria, leave room for minor variations so that your expectations are managed.

Egelife:
Please help out, does anyone here use ARM financials (money market mutual funds) I want to pull out from Stanbic because their yield has been hovering around 15% for over 2 months whereas I can get a better deal. Please any review on ARM or advise on a better fund managers i can port to. I am keen on higher yield and stability of the company

Jane111:
Hello, I use ARM and as at today, their rate is 17.2% as displayed. I have deposited and made a withdrawal too. I would say they are pretty much ok, nothing crazy in terms of deposits and withdrawal but with most systems in Nigeria, leave room for minor variations so that your expectations are managed.

Thank you so much for this. I wanted to be so sure I am making a good decision considering the fact that ARM financial is not really talked about here I guess. I will be porting on Monday from Stanbic as I just found out they paid about 14.4% as against 15+% shown on their platform throughout last month

Egelife:
Thank you so much for this. I wanted to be so sure I am making a good decision considering the fact that ARM financial is not really talked about here I guess. I will be porting on Monday from Stanbic as I just found out they paid about 14.4% as against 15+% shown on their platform throughout last month

Paid 14.4% ?

Really? Any proof?

Babygal2020:
Paid 14.4% ?

Really? Any proof?

nickae:

I tire o.

I know say Stanbic rate low but e never drop below 15%

Please what's the withholding tax for Stanbic MMF, and is it taken out before interest is posted?

Egelife:
Thank you so much for this. I wanted to be so sure I am making a good decision considering the fact that ARM financial is not really talked about here I guess. I will be porting on Monday from Stanbic as I just found out they paid about 14.4% as against 15+% shown on their platform throughout last month

Did you factor in 10% WHT in your calculation?

Hope you know 16% on paper will translate to 14.4% after WHT?

tenderjunkie:
Please what's the withholding tax for Stanbic MMF, and is it taken out before interest is posted?

10% flat across all platforms/apps

tenderjunkie:
Please what's the withholding tax for Stanbic MMF, and is it taken out before interest is posted?

Yes please.

Babygal2020:
Paid 14.4% ?

Really? Any proof?

very much, I can show you calculations from my platform

BuchyD:
10% flat across all platforms/apps

Thanks