Mama4life:
Please does anyone here know of PETDRILL? Their private placement was handled by AIM security Limited in December 2009? My husband purchased units worth #125,000. We haven't heard from them till date.

Mama4life:
Please does anyone here know of PETDRILL? Their private placement was handled by AIM security Limited in December 2009? My husband purchased units worth #125,000. We haven't heard from them till date.

wolesamson:
Thanks a million for this great information. Please who is managing Petdrill Development Company Limited. I invested N2.5M on it since 2011 through Aims Management and up till now, no tangible information about them. I had tried all available contacts i know of to no avail.

Thanks,

U1:
There's something I need anyone to explain more to me, please.

Is there any sort of safeguards when dealing with institutions dealing in mutual funds and securities?

To make this clearer, if someone invested in mutual funds or securities in Company A and, maybe a few years later, the company folded. What happens to the investment you made in or through it?


CC: ernie4life, emmasoft...

emmasoft:


To start with, please note: if you invest in any mutual fund you did not actually invest in the funds manager’s firm.
e.g if you invest in Abacus money market fund, you did not invest in Investment One as a firm but rather it’s a collective fund (Abacus with the underlying assets- Tbills. You invested in
To be sure your funds are safe, we have the custodian which usually is a MDB to hold the funds
Then Trustees who make sure the fund managers sticks to the investment objectives and they always form part of the signatory to the funds account, hence you have FBN MMF/INVESTMENT ONE FINACIAL SERVICES for fbnquest mmf, United capital Trustees/Abacus money market funds for Abacus money market fund etc.
We have the regulators the almighty SEC to take care of compliancy and other government policies in that regard, plus others - Registrars (record keepers of unit holders), Auditors
So, if the fund managers goes down which is very rare, your funds is with the custodian and the Trustees is there to do the needful.
What the fund manager does is giving financial service which you pay for and to give financial advice for you to get best returns for your money following the objectives of the type of fund in question.
An example is the Union trustees mixed funds. There seems to be issues with the fund management since 2014. But the fund is intact cos the underlying assets are there. It’s just of recent a new fund manager is picking them up and they are starting where others stop. In fact I posted the notice of their AGM for year 2014 till 2019 on this thread recently.
The same thing with equities you buy on the NSE, if the stockbroking firm going down it has nothing to do with your equities they are safe with the cscs as the depository. All you need do is to go to another firm if your current firm goes down and you are good to go, your stocks are intact. You will notice even if your firm goes down you will still get dividends paid to your account indicating you are still a shareholder of the company you invested in.
However, if you invest in a mutual fund which is equity based, the risk is higher. You can actually lose your money. Capital, Interest or returns are not guaranteed in that case. If you notice currently most of equity-based funds are having negative yields because the stock market is down.
Also if you invest in a particular company listed or unlisted as a an investor, if the company goes under your money goes under as a shareholder, that is the risk involved. For example, just as there is nothing like Bank PHB, skye bank or Afribank so also the investors have lost all their money.
In conclusion, if you made investment in a company and the company goes down your money goes down with it as a shareholder in that company
But if you made investment through a company (Fund manager or stockbroking firm) your investment is safe even if the company goes down. I hope this help.

ready4glory:
Now that the nation's economy is shaking, would it be wise to still invest in Money Market Funds?

emmasoft:


Nigeria's economy has always been shaking it's one of the characteristics of underdeveloped or developing economy. Invest all the same. One thing investors do all the time depending on the economic situation is to change strategy but never stop investing.

emmasoft:
To open any of AMMF/VGIF or both at the same time, click on the link on my signature, pm me or call. You need to upload on the last page of the form the following:
1.passport,
2. any of national id, permanent voters card, Int'l passport, drivers licence, national id, NIN slip
3. utility bill - NEPA bill or payment slip of pre-paid meter
4. your signature signed on a plain sheet.
When you submit, an email to acknowledge receipt of your form will be sent to you. Thereafter, you get your account details and the fund manager's account you are to deposit your fund into. If there is no kyc issues within 24hrs you get your account details. You can then download the app and set it up on your phone with your account details.
NB: You don't need money to open any of the fund account.

To help my ministry as a sales person please always use the link on my signature when opening any of the accounts. That is how I can meet up target. Thank you.

reservd:

How long did it take u to receive this msg from them

emmasoft:


To start with, please note: if you invest in any mutual fund you did not actually invest in the funds manager’s firm.
e.g if you invest in Abacus money market fund, you did not invest in Investment One as a firm but rather it’s a collective fund (Abacus with the underlying assets- Tbills. You invested in
To be sure your funds are safe, we have the custodian which usually is a MDB to hold the funds
Then Trustees who make sure the fund managers sticks to the investment objectives and they always form part of the signatory to the funds account, hence you have FBN MMF/INVESTMENT ONE FINACIAL SERVICES for fbnquest mmf, United capital Trustees/Abacus money market funds for Abacus money market fund etc.
We have the regulators the almighty SEC to take care of compliancy and other government policies in that regard, plus others - Registrars (record keepers of unit holders), Auditors
So, if the fund managers goes down which is very rare, your funds is with the custodian and the Trustees is there to do the needful.
What the fund manager does is giving financial service which you pay for and to give financial advice for you to get best returns for your money following the objectives of the type of fund in question.
An example is the Union trustees mixed funds. There seems to be issues with the fund management since 2014. But the fund is intact cos the underlying assets are there. It’s just of recent a new fund manager is picking them up and they are starting where others stop. In fact I posted the notice of their AGM for year 2014 till 2019 on this thread recently.
The same thing with equities you buy on the NSE, if the stockbroking firm going down it has nothing to do with your equities they are safe with the cscs as the depository. All you need do is to go to another firm if your current firm goes down and you are good to go, your stocks are intact. You will notice even if your firm goes down you will still get dividends paid to your account indicating you are still a shareholder of the company you invested in.
However, if you invest in a mutual fund which is equity based, the risk is higher. You can actually lose your money. Capital, Interest or returns are not guaranteed in that case. If you notice currently most of equity-based funds are having negative yields because the stock market is down.
Also if you invest in a particular company listed or unlisted as a an investor, if the company goes under your money goes under as a shareholder, that is the risk involved. For example, just as there is nothing like Bank PHB, skye bank or Afribank so also the investors have lost all their money.
In conclusion, if you made investment in a company and the company goes down your money goes down with it as a shareholder in that company
But if you made investment through a company (Fund manager or stockbroking firm) your investment is safe even if the company goes down. I hope this help.

U1:


Good morning, sir. Two questions:

1. Do you have any investment product that pays a fixed income? If yes, which?

2. Is there a way to indicate you as a referrer if I were to open an account and choose the option of physical submission of documents (not online)?

U1:


And one more question on this, please. Where does a person go in the event that the firm or fund manager that was in charge of a fund folded?

I don't think a CSCS account applies to this, or does it?

freeman67:





I believe the dorm is for investors refund and redemption. Most likely it's accepted for the investment houses as a means of refund.




Yes, I already have a dormiciliary account I opened at the time I wanted to invest VDF and it is still functional. However, the Issue I have is that the account given to me for Eurobond Fund was not a dollar denominated account and as such I could not pay in dollar.

Secondly, I was told transfers from a Nigerian Dollar account to another Nigerian Dollar account is no longer accepted.

emmasoft:


1. Yes, it's called Vantage Guaranteed Income Fund- VGIF
2. To indicate me as a referrer you will need to click the link on my signature to open the account for VGIF. my contact is also on my signature

U1:


Are you really sure that VGIF gives a fixed income? I saw somewhere on this thread where you mentioned the rate was 11.xx%. But I saw 15.xx% in the morning on the Investment-One's website. How does that work?

Yes, I can open an account online ONLY if I won't need to submit my documents online. You may point me to steps for opening the account, though, to see if it's one I can follow through.

Thanks.

saxy4c:
Well you can get an average of 5% monthly trading Currencies and commodity with minimal risks involved.

U1:
Your signature says it all.

ernie4life:


ARM launched their euro bond fund sometime in February 2020, so for now there is no historical performance to quote but from their expectations the believe it will give returns higher than your normal dorm account or dollar fixed deposit.

The beauty of all Eurobond fund includes
Professionally managed
More liquidity that Eurobonds
Low Entry amount( ARM should be $1,000 am not sure)
Flexibility ( easy entry easy exit)

Its a good offer if you ask me but please ensure you get first hand information from the fund manager,
ask all the question that needs to be asked before you invest.

SaintUlot:


My friend who i advised to invest in dollar/eurobond fund got pissed off when he got to know that he would be charged 300usd+ to make transfer from his dorm account. He exclaimed : "300usd+ transfer charge on a dollar that i bought @ the rate of 360? ,nope, kolewerk" If united capital and fbnquest had accepted he make cash deposit instead , he would have withdraw and make cash deposit because it ll cost him just a charge of 10usd to withdraw and deposit the said amount. But with the transfer he was asked to make, the money would be sent to an intermediary bank in USA 1st before the money will now hit united capital/fbn quest domiciliary account in Nigeria. I don't blame my friend though, because if i were to be in his shoes would have done the same, when i know quite alright that if i want to transfer naira conversion of such amount to naira mmf, i won't be charged more than 50 naira by the bank to make such transfer. The difference btw 50 naira and 300usd is too much.

SaintUlot:


My friend who i advised to invest in dollar/eurobond fund got pissed off when he got to know that he would be charged 300usd+ to make transfer from his dorm account. He exclaimed : "300usd+ transfer charge on a dollar that i bought @ the rate of 360? ,nope, kolewerk" If united capital and fbnquest had accepted he make cash deposit instead , he would have withdraw and make cash deposit because it ll cost him just a charge of 10usd to withdraw and deposit the said amount. But with the transfer he was asked to make, the money would be sent to an intermediary bank in USA 1st before the money will now hit united capital/fbn quest domiciliary account in Nigeria. I don't blame my friend though, because if i were to be in his shoes would have done the same, when i know quite alright that if i want to transfer naira conversion of such amount to naira mmf, i won't be charged more than 50 naira by the bank to make such transfer. The difference btw 50 naira and 300usd is too much.

emmasoft:
At this crucial and delicate investment cycle and always; you will do yourself much good and saved yourself of great financial loss by:
1. Not investing just by hearsay or with others opinion alone without your due diligence
2. Making sure you don’t lack understanding of the investment product you want to venture into
3. Not relying only on past performance of a particular investment window – past performance is no guarantee of future results
4. Don’t follow the crowd. Investment is not by popular opinion, it’s based on facts, figures and economic realities
5. Be realistic
6. Take calculated risk to avoid casualties
7. Beware of get rich quick syndrome – investment is not a destination it’s a journey
8. Think of the safety of your funds first before interest, gains or returns.
9. Get a mentor
10. Have your own strategy base on your investment objectives and follow it religiously until you have a better option.

ernie4life:


What bank is the fund in, maybe I could help your friend find a cheaper means

billtommy:
I don't know what I feel about eurobond. A friend of mine that invested was charged about 97usd on 9k usd. So I suppose the 300usd will be on funds of over 30k usd

Topson88:
.

Please I want to withdraw some of the money I put in stanbic mmf two weeks ago to buy zenith shares.
1. Will I lose some of my capital since it's not yet a month

2. How many percent is the penalty

Thanks

singletech:
Please what's today rate of stanbic ibtc money maket Mutual funds