₦airaland Forum

234ng44uk:
I made a transfer from my GTB dollar domiciliary to another dollar account in same GT bank and charges nearly ran me mad. They charged a ridiculous 0.5% of the amount transferred as "commission" and another 5% of that commission as VAT. So to transfer $20,000 from GTB to GTB they charged $105! How much can you possibly make from your investment when bank has a already taken a chunk of the money to transfer within their own network?
Looking at yield for dollar mutual funds for most assets managers, you should expect 6% per annum, meaning that at least your one month of your investment is gone in transaction charges, another one month of your investment will be lost to when you redeem your investment. You have to leave the fund for 3 months to make any profit at all.

Wow that's much for just transfer. I actually never intended to leave investment-one before now but I had to consider it because their processes are not transparent.

Hi guys For stanbic mmf can one withdrawl all of his/her money

Adayoung:
Hi guys
For stanbic mmf can one withdrawl all of his/her money

Yes

freeman67:
I have been operating the two (SGIF & SIMMF). Yes with their past performance records SGIF seem better but in recent times and with what I see about it in my account the growth of SIMMF is more steady. It does not fluctuate like SGIF do in relation to its stock mix and it's only the capital that is guaranteed. So for me, I can rely more on SIMMF because any amount posted would not reduce again.

Wanted to ask, how long have you been running your SGIF and SIMMF?

GonFreecss1:
Wanted to ask, how long have you been running your SGIF and SIMMF?

2016 ending

freeman67:
2016 ending

Perfect. You are the best person to ask this question then, apart from the appreciation in price per unit of the SGIF, do they pay out any other dividends? Or it's just the capital appreciation?

GonFreecss1:
Perfect. You are the best person to ask this question then, apart from the appreciation in price per unit of the SGIF, do they pay out any other dividends? Or it's just the capital appreciation?

To be honest I do not normally check the unit.. I just check once in a while to see if it appreciates. However, I notice a rapid increase in the first quarter of 2018 then it later stabilised..

freeman67:
To be honest I do not normally check the unit.. I just check once in a while to see if it appreciates. However, I notice a rapid increase in the first quarter of 2018 then it later stabilised..

Hmmmn... Interesting. Thanks for your response man.

Have you opened the dollar fund account yet?

GonFreecss1:
Hmmmn... Interesting. Thanks for your response man.

Have you opened the dollar fund account yet?

Not yet... I have not gotten my money back from investment-one... Also I have not gotten contacted United Capital which is my option B since I may not use Stanbic because of transfer charge..

freeman67:
Not yet... I have not gotten my money back from investment-one... Also I have not gotten contacted United Capital which is my option B since I may not use Stanbic because of transfer charge..

Wow. You have not gotten your money back? This is serious man. Really sorry about that. This is really surprising coming from them.

Yem0350:
Yes

I tried and i got this response that i have to leave a balance of 5000

Adayoung:
I tried and i got this response that i have to leave a balance of 5000

When inputting the amount add everything to the last kobo and try again

Adayoung:
I tried and i got this response that i have to leave a balance of 5000

First check your current NAV
In the redemption amount, type the exact NAV (kobo inclusive)

freeman67:
2016 ending

Quick question boss, is #5000 a fair amount to invest in SGIF?

will007:
Quick question boss, is #5000 a fair amount to invest in SGIF?

There is always a starting point for any investment depending on financial strength of the investor.. Yes, that is the least acceptable amount to start with. So it is fair if that is all you can afford now but you will have to grow it to enjoy more returns...

Hi guys, please am about to open a mutual fund account, money market to be precise but from the information am getting online the yield is about 12-13%. Some claim that the interest is accrued daily. Does this mean that I will be getting 13%(assuming that is the current rate) on my capital daily or is this rate calculated yearly.

I would like to know how the interest rate is calculated and will appreciate anyone that can explain this to me.

Thanks.

freeman67:
There is always a starting point for any investment depending on financial strength of the investor.. Yes, that is the least acceptable amount to start with. So it is fair if that is all you can afford now but you will have to grow it to enjoy more returns...

Thank you very much boss

The 13% is per annum.

Principal × Rate × Time (days)/100 × 365 days

khadri:
Hi guys, please am about to open a mutual fund account, money market to be precise but from the information am getting online the yield is about 12-13%. Some claim that the interest is accrued daily. Does this mean that I will be getting 13%(assuming that is the current rate) on my capital daily or is this rate calculated yearly.

I would like to know how the interest rate is calculated and will appreciate anyone that can explain this to me.

Thanks.

Thank you. God bless

elothaddi:
The 13% is per annum.

Principal × Rate × Time (days)/100 × 365 days

khadri:
Hi guys, please am about to open a mutual fund account, money market to be precise but from the information am getting online the yield is about 12-13%. Some claim that the interest is accrued daily. Does this mean that I will be getting 13%(assuming that is the current rate) on my capital daily or is this rate calculated yearly.

I would like to know how the interest rate is calculated and will appreciate anyone that can explain this to me.

Thanks.

See thief.
So if you invest 1milion Naira you're expecting 120,000 Naira daily?

234ng44uk:
See thief.
So if you invest 1milion Naira you're expecting 120,000 Naira daily?

hehhehehehehehhe no joor 120,000 per annum

best place to be

Just2endowed2:
best place to be

You are welcome

Lol.
That's why I asked. According to the Meristem agent I chatted with that's what she told him which I find it hard to believe.

234ng44uk:
See thief.
So if you invest 1milion Naira you're expecting 120,000 Naira daily?

Axamansard MMF @15.29% as at ysterday....Very nice, i hope it stays that way for a while.

mfonox:
Axamansard MMF @15.29% as at ysterday....Very nice, i hope it stays that way for a while.

I don't think so bcoz of the low rates in Tbills

Yem0350:
I don't think so bcoz of the low rates in Tbills

True, i was surprised that it came up cos tbillz has been low for a while. oh well........we enjoy it for a day or 2 then

mfonox:
True, i was surprised that it came up cos tbillz has been low for a while. oh well........we enjoy it for a day or 2 then

Probably commercial papers.

You are right

GonFreecss1:
Probably commercial papers.

Who has data on the Stanbic IBTC money market average yield for the years...

2016, 2017 and 2018?

I find it unfair that they never gave a specific average yield for this years. They stopped doing this in 2015. That's not transparent. I am very sure if I called them, they wouldn't give the info, because the info in their report is very ambiguous. Just a graph that is not even clear.

So any one with this info? Thanks in advance.

GonFreecss1:
Who has data on the Stanbic IBTC money market average yield for the years...

2016, 2017 and 2018?

I find it unfair that they never gave a specific average yield for this years. They stopped doing this in 2015. That's not transparent. I am very sure if I called them, they wouldn't give the info, because the info in their report is very ambiguous. Just a graph that is not even clear.

So any one with this info? Thanks in advance.

They do. Have you requested from them?

234ng44uk:
They do. Have you requested from them?

Nope. Should I?

It's ambiguous in their quaterly report.