sgtponzihater1:

My guy investments is not for the Lilly hearted, but for the strong at heart and also for the intelligent. BGL's guarantee consolidated note (gcn), was giving people as much as 20% interest, when at the time the highest a mutual fund could give was 11% (KGIF), whereas they never registered with SEC to run money market but as stock brokers, the owners fed fat on people's contribution and their GCN was like a ponzi scheme. Now here is the cache, those who bought stocks via BGL didn't loose anything, they merely changed their stock brokers, those who lost in GCN( their MMF), lost because of ignorance and greed. The MPR then was 12%, yet they went for 20% interest, just a detailed search would have also shown that they weren't approved by SEC to run money market investments, I asked the Business manager of BGL pH then if they were approved to run MMF and he said they were working on it, I ran with my money. When an unlicensed fund crashes SEC has no hand in it, just like NDIC has no hand in investors lost funds in Ponzi. We have investment classes/meetings in PH and we discuss and remind ourselves these things, we go further to dissuade people from Ponzi schemes and unlicensed investments without a legal shelter, we also take it a notch further encouraging people to begin businesses and use treasury bills, bonds, mutual funds, and stock as shelter for those businesses and i'm glad to say none of us have regretted thus far.

Study, innovate

Ponzi Hater

Willie2015:


BGL was an approved capital market operator and they run an assumed ponzi scheme for years in Nigeria and SEC, a regulatory body was either asleep or romancing with them. And you think they will bail you out when your investment goes bad, tell that to the marines plz.

You need to understand the politics behind BGL & SEC issue to truly appreciate the dirty murky waters of our investment terrain & romance btw regulatory outfits and some these investment outfits. The truth is the no one give a Bleep about your money.

I don't do mutual funds cos I don't trust any of those mutual fund outfits.

sgtponzihater1:


Read SEC statements about BGL, they said their GCN was unregistered and thus illegal. It was a Ponzi scheme, it wouldn't have stopped earlier, but some investors reported d issue and SEC got to know.

CuteRedd:
I understand you, its just due to my exposure on legal investments with higher returns which is also well secured thats why bonds ROI to me seems like child's play.

Willie2015:


Medicine after death.

They should have stopped it a long time ago, that,s why I refer to the dirty politics which investors cant do nothing about.

Lets stay safe plz.

RealityShot:
That is why i choose ibtc (or fbn) over arm fund.

they are backed by banks in the top 3 category plus internationally traded banks.

Or do you have any proof that their mmf are not SEC approved? Pls share.

thank you

RealityShot:

tell us about the "legal investments" please.
thank you

adegokekemi:
House dry o!

Mup4life:
pls does stanbic ibtc MMF give interest on weekends? i just noticed dat my funds don't grow on weekends.

Investnow2017:


Yes, u get credited on mondays.

Mup4life:
pls does stanbic ibtc MMF give interest on weekends? i just noticed dat my funds don't grow on weekends.

Kevostica:
Pls who has invested in FBN MMF?.
saw it at 19.13% and i want to assess their performance pls?

ssfWeShss:
Please is ARM MMF a ponzi scheme? I need to know because I just started investing with them and the BGL story is beginning to make me wonder. Ill just like to know if my funds with them is protected by SECs and the likes so in case of anything I'll still get my capital back at least

sgtponzihater1:


ARM will probably be around for a long time. U must realise that these mutual funds are a cartel all working together. FBN has a lot of shares with ARM MMF.
Choose a mutual fund with a rich and untainted history. BGL had a previous hard time, when they where taken to court for Fraud and fraudulently won d case, so any scheme with so much drama is most likely a fraud. I even have my reservations for FBN MMF, there is always an issue with them.

georgebruno:
beautiful job u guys are doing here. i have learnt a lot. wish i knew all these way back. i would have been in a much better financial state right now. question please;whats the minimum initial and subsequent investment sums for the stanbic MMF. it says 50k on the site for both initial and subsequent investments, though i dont know if thats an updated site.

Emanex18:
Fellow Investors what do you think about the newly launched Zenith Bank MMF?

Emanex18:
Fellow Investors what do you think about the newly launched Zenith Bank MMF?

ernie4life:


From the little write up on the picture I will like to point out a few short falls

First: minimum of 10,000 is high considering other mutual funds offer minimum of 1000
Secondly: liquidation period is 5 days, for real! other funds offer 3 days and some 24 hours
we are yet to see the yield of the fund since its just starting but my guess is that it would do as good as other funds.
who are the registrars and custodians of the fund?

Am concerned that every asset firm is floating there own money market fund,
why am I concerned?

I will tell you.
Remember the era when the stock market was booming, many asset firms had equity based funds and they all did well till the crash of the stock market, what do you think would happen if CBN crash rates of treasury bills and MPR to lets say 6%?
your guess is as good as mine.
Our fund managers are lazy, they seek for comfort instead of opportunity.
why cant we have a real estate based fund? it could even be a hedge fund.
To me a Real estate based fund has huge potential the only down side is that it may not be very liquid but if properly managed could offer returns as high as 25%.


My thoughts

dandollar1:
Everyone is now running to stanbic. I currently have mutual funds with zenith bank but want to shift to Stanbic IBTC because Zenith Bank is always stingy with rates.
I remember how I lost the first 2M I saved when I started work, after I bought into the stock craze back in 2008.

How is this mutual funds ish different? I don't want a repeat of what happened in 2008,besides, the funds this time I huge. Someone, please advice.

dandollar1:
Everyone is now running to stanbic. I currently have mutual funds with zenith bank but want to shift to Stanbic IBTC because Zenith Bank is always stingy with rates.
I remember how I lost the first 2M I saved when I started work, after I bought into the stock craze back in 2008.

How is this mutual funds ish different? I don't want a repeat of what happened in 2008,besides, the funds this time I huge. Someone, please advice.

RedCapChief:


Some funds, like the money market fund, will guarantee your capital.