elmas:
hello guys, I want to ask if mmf 13% interest rate is calculated annually or monthly?

chufor:
Thanks so much, sir please could you throw more light on that bid price and bid offer?
Thanks in advance

emmasoft:

Bid price: the price the fund managers will buy from you when your want to redeem some or all your holdings while offer price: is the price the fund managers will sell if you to invest in the fund.
If you are also calculating the value of your holdings it's the bid price you use not the offer price.

ie, if you have say 100k and you want to buy HF your holdings will be 100k/offer price if you are divesting
your value will be your holdings x Bid price

emmasoft:


The FBN Heritage Fund’s objective is to achieve superior returns over a long-term investment period. The fund is a multi-asset mutual fund suitable for investors with an appetite for earning greater rewards over a long-term period. The focus of this fund is therefore to invest in equities, bonds, money market instruments, realestate investments and other securities in the capital markets.

Although the FBN Heritage Fund has a medium risk profile, it typically offers high returns when compared to other mutual funds with a lower risk profile. The fund’s assets can be broadly broken down as follows:

• 20%-65% is invested in stocks



• 10%-25% is invested in bonds

• 10%-75% is invested in money market securities.
In summary, what it means is that FBN Heritage fund is a Mixed fund. ie the fund invests on equities money market instruments etc. What that means is that equity market has strong effect on the fund- negative or positive hence it's riskier compare to MMF. I actually started with them in 2007. There was a time the price fell to a little above N70 during the equity market crisis. So in a way there is element of equity in the fund. Just like any other mutual fund, the returns are not taxed. So if you are very risk adverse person to bother just go along with the MMF or TBills.

C505:
Greetings full house.

Please can someone enlighten me on this issue?

Btw February 7 to February 13 is 3 working days which is Friday, Monday & Tuesday so that by 13th of February, I'm supposed to have an interest of 4 days but when I look at the interest column on 13th, I see #48.53k.

This can't be right

Can someone help me out on this before I lodge any complaint?

MODIFIED*

Even between January 31 to February 7 is a long gap with that interest too. I look worried about it

emmasoft:


I want to believe this is IBTC MMF account. Note that IBTC has since changed the way it handles interest accumulation and re-investment. Not as straight forward as other MMF. With the little I understand, when you see the subscription for a particular day, it does not mean all the accumulated interest for all days before that day. Interest accumulates daily but are reinvested according to their new system which I myself still trying to understand. If you check very well. You will notice that interest accumulate but the re-investment is done in bits. you may accumulate say N2,500 between Jan 1 to Feb 10 and they may decide to invest N520 on the 10th of Feb base on their new system. So don't worry too much it's their way. However, you can call their customer service to explain to you how their system works in terms of accrued interest and investment of interest. I hope this help

amaham:
Pls I cannot top up my mutual funds via stanbic ibtc app for 3 days now. Anybody with same problem?

Yem0350:

Kindly use the web portal

amaham:

I tried the web portal it says " transaction cannot be completed now "

amaham:
Pls I cannot top up my mutual funds via stanbic ibtc app for 3 days now. Anybody with same problem?

Akerewe:
good day house,
if I invest 70k in stanbic mutual fund today, what may likely be my interest in the next 30days. ?
thanks

Yem0350:

Which method of top up are you trying to use

MrHighSea:
Appr. N650-750 goin by 13-14%

amaham:

I used ATM card Sir.

234ng44uk:


What is investment one's mmf current performance?

austine4real:
please is want know what is taking investment one weeks to open my account since last year

emmasoft:

That is very unusual. Accounts are open in a matter of hours immediately you complete the form online. However, you can call Adeola 08129921093 or Nnamdi 08129921073

chufor:
Good day
Please is investment one tax free?

umulobi:
Please,I need web site of Stanbic ibtc MMF asap