Eddee:


When did you do this? I have used them as recent as Saturday to top up. It shouldn't take more than 1 business day if done on a working day. Worse case scenario, they will return the money to the account it originated from.

I subscribed since 31st of marchand everything is stagnant. I haven't heard from them.
I just wonder why.

akinola98:


Ok. Thanks ..... but what is SDF??

standard deposit facility. it's the rate cbn give to banks for depositing funds with the cbn. it's the lower basis point of asymmetric corridor around the MPR. currently from the last MPC meeting the asymmetric corridor around MPR is +200/-500 basis points the lower basis point is -500 and the MPR currently is 13.5 if you remove 500 basis point you have 8.5% that how it's gotten. You can also check the last page of this link https://www.cbn.gov.ng/Out/2020/MPD/Central%20Bank%20of%20Nigeria%20Communique%20No.%20129%20of%20the%20Monetary%20Policy%20Committee%20Meeting%20held%20on%20Monday%2023rd%20and%20Tuesday%2024th%20March%202020.pdf

kamsy4God:
Pls house, I am wondering why stanbic ibtc mmf is yet to Re invest my accrued interest (quarterly), and today is 9th already.
NB I started in December 2019, although they occasional reinvest interest in piece meal.,
So I want to know if it's the same with other stanbic mmf investors.
Thanks

Kindly note that reinvestment model of ibtc is quite different from the likes of investment one and others. They reinvest at random not per quarter. You will need to call their customer care to educate you on their reinvestment model. that is all I can say right now, I am not an insider. Just helping out.

DBestDoc:


Same experience I have with FbnQuest but I’m giving them time though.

Investment one is even worse as they have neither paid the quarterly interest nor added any new interest since this month. Everything is just stagnant. No interest paid, re-invested or accrued.

ARM is up to date. Re-invested the interest on the evening of April 1 and new accrued interest already reading.

I’m just watching them closely.
Let’s say the Pandemic and lockdown is affecting their services. Hopefully, normalcy will return soon.

ARM is bae

seun289:

ARM is bae

Let's be calm folks. This is not a normal regular time we are in the whole situation took the whole world by storm . Be rest assured nothing is wrong, some of your experiences is for your good. If the cost to post and do some other things during this lock-down is going to have a material effect on your investment i think it's better to wait than to have a loss. All that is happening is as a result of the lock-down. Sincerely the cost of working from home for financial institution is not as easy as it's been said. I can assure you your dividend will be paid and the value date for reinvestment of interest will still carry 1st of April 2020 as value date and you will get all accrued interest till date when it's posted.

Note: Posting interest is not same as earning interest. Interest is earned daily nothing stops that. what you have now is interest earned but not yet posted. Remember we are all in the same boat together and definitely we shall sail to shore.

seun289:

ARM is bae

It's Nigeria all have their issues, if you have good rates, will see slow response and video versa

Eddee:


When did you do this? I have used them as recent as Saturday to top up. It shouldn't take more than 1 business day if done on a working day. Worse case scenario, they will return the money to the account it originated from.

I did it early this morning. (Today 9th of April)

One of the lessons we just learnt under this COVID-19 regime - It has shown us how much our money can make for us while we are lock-down/not active at work or in any business. If while on lock-down, you are not making any passive income then it means you need to start investing immediately in fact you need to declare a state of emergency on your investment situation, as little as 5% or 6% some MMF managers are giving now, some people still got credited or will be credited while they are on lock-down and dividends were paid and will still be paid to investors in stocks. If you are on lock down and your money too is lock down, then you need to review your investment strategy. Assume this lock-down is your retirement period how well can you live well without working? If only when you open business, or you are present at work you make money then your investment is not complete you need to do more forms of investment. Just a lesson!

meshzhi:


I subscribed since 31st of marchand everything is stagnant. I haven't heard from them.
I just wonder why.

Login to your funds manager on https://www.stanbicibtcfundsmanagement.com/

All you need is your email address, Last four digits of Phone number and password - I believe you have this information already.

Sometimes mail acknowledgement takes time, but they may have credited your e-acount. Only way to confirm is to login or visit a physical branch for confirmation.

Agbeni33:



I did it early this morning. (Today 9th of April)

It depends on the method you used to top up or subscribe. What method did you use? Quickteller, direct transfer, mobile app or debit card? Refer to the attached screenshots for subscription methods and value dates.

emmasoft:

standard deposit facility. it's the rate cbn give to banks for depositing funds with the cbn. it's the lower basis point of asymmetric corridor around the MPR. currently from the last MPC meeting the asymmetric corridor around MPR is +200/-500 basis points the lower basis point is -500 and the MPR currently is 13.5 if you remove 500 basis point you have 8.5% that how it's gotten. You can also check the last page of this link https://www.cbn.gov.ng/Out/2020/MPD/Central%20Bank%20of%20Nigeria%20Communique%20No.%20129%20of%20the%20Monetary%20Policy%20Committee%20Meeting%20held%20on%20Monday%2023rd%20and%20Tuesday%2024th%20March%202020.pdf

Thanks

emmasoft:


Let's be calm folks. This is not a normal regular time we are in the whole situation took the whole world by storm . Be rest assured nothing is wrong, some of your experiences is for your good. If the cost to post and do some other things during this lock-down is going to have a material effect on your investment i think it's better to wait than to have a loss. All that is happening is as a result of the lock-down. Sincerely the cost of working from home for financial institution is not as easy as it's been said. I can assure you your dividend will be paid and the value date for reinvestment of interest will still carry 1st of April 2020 as value date and you will get all accrued interest till date when it's posted.

Note: Posting interest is not same as earning interest. Interest is earned daily nothing stops that. what you have now is interest earned but not yet posted. Remember we are all in the same boat together and definitely we shall sail to shore.

This period hasn't had any significant effect on the behaviours of these Investment houses/ asset managers. All of them are just displaying their normal characteristics. I have been indirectly involved with FBNQUEST since December 2019. After the 4th quarter of 2019 it them quite a while to start crediting the daily interest in January 2020. There was no Covid 19 situation then same scenario is happening now.


United Capital credited their quarterly interest and started posting their daily interest almost immediately during the lockdown period. I started using them this year so I may not have much to say for now.

SIAML have their pattern of reinvestment of interest and have been consistent with it.

These are the 3 I can say something about now.

Eddee:


Login to your funds manager on https://www.stanbicibtcfundsmanagement.com/

All you need is your email address, Last four digits of Phone number and password - I believe you have this information already.

Sometimes mail acknowledgement takes time, but they may have credited your e-acount. Only way to confirm is to login or visit a physical branch for confirmation.



It depends on the method you used to top up or subscribe. What method did you use? Quickteller, direct transfer, mobile app or debit card? Refer to the attached screenshots for subscription methods and value dates.

Thanks bro

freeman67:




This period hasn't had any significant effect on the behaviours of these Investment houses/ asset managers. All of them are just displaying their normal characteristics. I have been indirectly involved with FBNQUEST since December 2019. After the 4th quarter of 2019 it them quite a while to start crediting the daily interest in January 2020. There was no Covid 19 situation then same scenario is happening now.


United Capital credited their quarterly interest and started posting their daily interest almost immediately during the lockdown period. I started using them this year so I may not have much to say for now.

SIAML have their pattern of reinvestment of interest and have been consistent with it.

These are the 3 I can say something about now.

My Q1 interest has been re-invested(seems it was on 3rd April) and accrued daily interest started reflecting in my account on Tuesday 7th April. I use FBNQuest for my MMF investment.

Eddee:


Login to your funds manager on https://www.stanbicibtcfundsmanagement.com/

All you need is your email address, Last four digits of Phone number and password - I believe you have this information already.

Sometimes mail acknowledgement takes time, but they may have credited your e-acount. Only way to confirm is to login or visit a physical branch for confirmation.



It depends on the method you used to top up or subscribe. What method did you use? Quickteller, direct transfer, mobile app or debit card? Refer to the attached screenshots for subscription methods and value dates.

I received additional subscription notification yesterday.

The top up was successful.

I used my Stanbic mobile app by transferred to Stanbic bank account where I used 9202476223 as account number and my E account and my name as description.

Okay guys so I logged in to my app yesterday 09/04/2020. Discovered FBN have finally paid the accrued interest starting from the 1st of April. I did shoot them a mail 3days ago.
I hope those in my shoes have received theirs?
Akin3891?

It wasn't complete though, based on my calculations. But I'll take the one I see.
Let me just blame everything of covik 1-9

olyrayy:
Hello house. Is there a way I can buy an index fund that follows the NSE? If there isn't is there any Mutual Fund that consistently beats the market? Thanks a lot guys.

Errrmmmm... Help please...

olyrayy:


Errrmmmm... Help please...

You need to talk to a fund manager directly, they could structure such a portfolio for you.

ernie4life:


You need to talk to a fund manager directly, they could structure such a portfolio for you.

Oh. How do I go about that?

Sorry to ask please an investment of 500k should yield how much by end of the year

milanseedorf:
Sorry to ask please an investment of 500k should yield how much by end of the year

At current rates, between 25-30k

Good evening
Who has been able to do online redemption on Stanbic IBTC money market during this lockdown?
And how long does it take?
Thanks in anticipation

Qassy4all:
Good evening
Who has been able to do online redemption on Stanbic IBTC money market during this lockdown?
And how long does it take?
Thanks in anticipation

I did on Thursday and I got my money that same day.

Desanta:


I did on Thursday and I got my money that same day.

I did mine on Friday but yet to get my money

Qassy4all:

I did mine on Friday but yet to get my money

You did Before or After 12noon?

Qassy4all:

I did mine on Friday but yet to get my money

Friday was public holiday. So till Tuesday before they we process your redemption.

Qassy4all:
Good evening
Who has been able to do online redemption on Stanbic IBTC money market during this lockdown?
And how long does it take?
Thanks in anticipation

did at 10am on Thursday and got b4 close of business

Dear investors, has anybody heard about wealth.ng ?
please how do they operate thier investment can somebody enlighten us
thanks

Franky826:
Okay guys so I logged in to my app yesterday 09/04/2020. Discovered FBN have finally paid the accrued interest starting from the 1st of April. I did shoot them a mail 3days ago.
I hope those in my shoes have received theirs?
Akin3891?

It wasn't complete though, based on my calculations. But I'll take the one I see.
Let me just blame everything of covik 1-9

Yea, I got mine too. I think the rate has dropped a bit, a day interest is missing after my calculations. I will keep eyes on them

Akin3891:



Yea, I got mine too. I think the rate has dropped a bit, a day interest is missing after my calculations. I will keep eyes on them

Good to know. Remember I told you guys everything is under control. When it comes to Fund managers the priority is to make sure any fund deposited is invested accordingly and the interest is earned. The priority is to take care of any process that will have effect on your investment. Every other process like posting, giving reports, etc which in reality does not have any effect on the value of your investment comes later.

milanseedorf:
Sorry to ask please an investment of 500k should yield how much by end of the year

Most of the MMF rates now revolves around 5 to 6%+ and TBills is even lower across all tenors, it’s an economic reality. MMF is SEC regulated and very safe. If you want higher returns it means you must do riskier investment. So, if you are risk averse don’t complain just make do with the current rates while hoping for better rates when things improves and policy favors.
In addition, I will recommend you look the way of another form of mutual fund called Guaranteed income fund VGIF, it’s also for risk averse folks, another advantage is that the rate is guaranteed, and interest earned daily like MMF. Principal and interest of 8.5% guaranteed.
For good investment products from Investment One - stocks or mutual funds contact: 08181057319 or click the link on my signature to open account online.