Ashvik:
good evening...please I'm new here.. I want to invest in a money market fund... but I'm so confused on which one to go for and how to go about it...please I need your help on this

enque:


withdrew funds in december (i think 2nd week or so).
applied for withdrawal in the morning, and got my cash late afternoon of the same day (around 4pm ish)

umulobi:
Nairalanders,I am considering opening a domiciliary account in US dollars denomination for an intention to withdraw from Canada.Which bank should I go with considering charges,services and exchange rates?

Akby:
I came across this quote while reading a book yesterday... Why 'A' Students Work For "C" Students - Robert Kiyosaki

Bogle points out that in mutual funds, you, as the investor, put up 100% of the money and take 100% of the risk. The mutual fund company puts up no money, takes no risk, and yet keeps 80% of the returns. The investor gets back 20% of the gains, if there are gains.

Warren Buffett Agrees
Warren Buffett is regarded as one of the greatest investors of our time. He is a capitalist. He is an entrepreneur. He is not a managerial capitalist. This is what Warren Buffett has to say about these corporate money managers, managerial capitalists, most of whom are "A" students from great schools.

He says:
"Full-time professionals in other fields, let’s say dentists, bring a lot to the layman. But in the aggregate, people get nothing for their money from professional money managers."

If this is true, it might be stated another way: Those who choose not to become financially educated or play an active role in their investments and, instead, turn their money over to professional money managers, are abdicating responsibility for their financial future.

Any comment on this?

Akby:
I came across this quote while reading a book yesterday... Why 'A' Students Work For "C" Students - Robert Kiyosaki

Bogle points out that in mutual funds, you, as the investor, put up 100% of the money and take 100% of the risk. The mutual fund company puts up no money, takes no risk, and yet keeps 80% of the returns. The investor gets back 20% of the gains, if there are gains.

Warren Buffett Agrees
Warren Buffett is regarded as one of the greatest investors of our time. He is a capitalist. He is an entrepreneur. He is not a managerial capitalist. This is what Warren Buffett has to say about these corporate money managers, managerial capitalists, most of whom are "A" students from great schools.

He says:
"Full-time professionals in other fields, let’s say dentists, bring a lot to the layman. But in the aggregate, people get nothing for their money from professional money managers."

If this is true, it might be stated another way: Those who choose not to become financially educated or play an active role in their investments and, instead, turn their money over to professional money managers, are abdicating responsibility for their financial future.

Any comment on this?

Zerilt:
Mutual funds can be good option for those who don’t have time or knowledge to spend trading on financial markets. Choosing a right fund could be done based on their historical performance

Akin3891:




Hi guys, i know little on how money market work but i want to ask question regarding my plans of kind of investment. I want to put some money, say 7m but i will need to withdraw 300k monthly from the acc, then proceed to keep the account for a year .ie: i will safe 7m for a year but it's a must i withdraw 300k every 2nd of every new month till the end of one year , can this work out without having to pay for any kind of penalty charges that could affect my capital. Kindly advise, God bless u all

Akin3891:




Hi guys, i know little on how money market work but i want to ask question regarding my plans of kind of investment. I want to put some money, say 7m but i will need to withdraw 300k monthly from the acc, then proceed to keep the account for a year .ie: i will safe 7m for a year but it's a must i withdraw 300k every 2nd of every new month till the end of one year , can this work out without having to pay for any kind of penalty charges that could affect my capital. Kindly advise, God bless u all

dharpzee:


Hi, well I can suggest you try Meristem Mutual funds, and you can withdraw the said amount every 30days, with little or no penalty charge. you can reach me for more info 08178192374

Akin3891:


Can u explain the bolded msg? Thanks, i understand that the intrest is calculated daily,but can it ever go below 10%, because if the rates is not as juicy as TB rates, i will rather go for a TB investment of a short terms,but my problem is that i might not always get a 31 days tenor in TB and this can affect my plan of monthly withdrawal . Also is there any risk" whatsoever " to my capital investing in mutual funds? I'm actually looking for a daily intrest rate between 10 to 13%, i understand the daily rate fluctuate.

infj:
Good afternoon house
Please I'll like to know if anyone uses Arm's money market fund, I'd like to know the features and its advantages/disadvantages over other mutual funds.
Ps. I'm just an undergraduate(without any knowledge of the financial market). I'd be grateful if anybody can suggest suitable mutual fund to invest in, I'll bei intend making deposites into the account monthly. Thank You

Yem0350:

For money market funds that I know about of which I have account with them (fbnquest, stanbic and mansard), the minimum holding period is 30days. Anytime after 30 days, you will be free to withdraw your money either in part or full without any charges.
As at Friday,
FBNquest: 13.66%
Mansard : 13.46%
I don't trust stanbic rate bcoz they credit a little below their displayed rate.
Based on this, these money market funds suit your taste

C505:


Do you mean stanbic is poor at money market rate? I used to do with mansard but I closed down late last year and instead of going back there, I opted for stanbic.

The only thing I hate so far from stanbic is the fact that the rates per day aren't displayed.

Yem0350:

The only thing I can say about them from experience is that their customer care service is very poor. I had no choice than to leave despite their high interest rate

Yem0350:

The only thing I can say about them from experience is that their customer care service is very poor. I had no choice than to leave despite their high interest rate

infj:
thank You for your response. So which would you advise I go for.

Yem0350:

You can try axa mansard or fbnquest

pepe1:
Good day all.

I noticed that no mmf has a total edge over others.

However, I have narrowed my choice and now stuck between AXA Mansard and Stanbic.

I'm more concerned with Investment appreciation, Customer service and ease of cash out process.

I need help to decide or do I share my investment between the two.

Thanks in advance.

megacontrol:
you can share. i split mine between both of them.

pepe1:
Hello everyone. Pls what is the convenient way to register and pay for AXA Mansard mmf and Stanbic mmf.

Thanks

emmasoft:

For AXA Mansard register online with your KYC attached and you are good to go. For Stanbic download form, complete and scan to them.
For payment you can transfer fund to their account and send evidence of payment for Mansard while you upload evidence of Payment from your account online for Stanbic

Dfavouredone:
FBNQuest received the ‘Equity Fund of the Year’ and ‘Bond Fund of the Year’ awards, while Meristem received the Stockbroker of the Year award.

https://punchng.com/fbnquest-meristem-get-recognition-at-finance-awards/

emmasoft:


Good to hear and Congrats! to FBNQuest and Meristem. However it's the interest/dividend that enters the unit holders bank account that really matter at the end of the day.