₦airaland Forum

emmanuelewumi:
I hope the number of infected cases will not rise to 5000 by next week Friday.

If that happens, total lockdown will be introduced again.


Better to have enough cash in our bank accounts, or hide it in money market funds because of the one million boys.

May God see us through this terrible phase.

IamR:
Thank you, Elder; this is not bad. Let me contact them for account opening.

Pascopele:
Rates are determined by the proportion and duration

Phyde:
That's my fear cause those guys operate with POS and some have knowledge of banks USSD transfer codes. I think it is best hiding some fund in MMF and leave like 50k balance in case of emergency.
Thank you sir

emmanuelewumi:
Millions in your MMF can be converted same day into cash within 3 hours to 8 hours once you make your redemption before 12 noon

emmanuelewumi:
As at yesterday these are the rates for Money Market Funds, with the three firms I have dealings with.

1.FBN Asset Management 5.3%

2.FSDH Asset Management 6.19% This rate is not fixed 1m will give 74k

3.United Capital Asset Mgt 7.23%


Rates are determined by the proportion and duration of Treasury Bills, Commercial papers, FG bonds and Fixed deposits, they have in their portfolios.


The rates are poor but still better than buying Treasury Bills, MMF are also more flexible

zamirikpo:
What's the duration for this 7% United capital asset mgmt.

Pascopele:
It depend you want a year, 6 months, it depends on what you want

zamirikpo:
What's the duration for this 7% United capital asset mgmt.

emmanuelewumi:
As at yesterday these are the rates for Money Market Funds, with the three firms I have dealings with.

1.FBN Asset Management 5.3%

2.FSDH Asset Management 6.19%

3.United Capital Asset Mgt 7.23%


Rates are determined by the proportion and duration of Treasury Bills, Commercial papers, FG bonds and Fixed deposits, they have in their portfolios.


The rates are poor but still better than buying Treasury Bills, MMF are also more flexible

emmanuelewumi:
No duration, your fund can stay as long as you want, you can top up your investment anytime, interests are paid every quarter. That is end of March, June, September or December. You can opt for the reinvestment of your interests that is what I do and I always top up regularly

bmarketing:
Please, what's the difference between the three MMFs? Which is the best? They seem to offer a better rate than high yield savings

Alaska90:
Hello Mr emmanuelewumi,

Please what about the security of my initial investment in MMF compare to TB?

And I think you said I can cash out anytime without penalty ?

Please can you recommend one for me....I am particular about security of my investment, returns and ease of management ( like on internet because I am not on the ground )

I don't know of first bank MMF but I have the funds in FBN TB

Thanks

emmanuelewumi:
They are managed by different companies and different fund managers

bmarketing:
Thanks but which one do you recommend and can be liquidated anytime?

Alaska90:
Hello Mr emmanuelewumi,

Please what about the security of my initial investment in MMF compare to TB?

And I think you said I can cash out anytime without penalty ?

Please can you recommend one for me....I am particular about security of my investment, returns and ease of management ( like on internet because I am not on the ground )

I don't know of first bank MMF but I have the funds in FBN TB

Thanks

bmarketing:
Thanks but which one do you recommend and can be liquidated anytime?

emmanuelewumi:
United Capital Asset Management will be very good for young people.

emmanuelewumi:
United Capital Asset Management will be very good for young people.

chidekings:
How we register and start saving with them

Boyhood:
This is the trend for you to read more about MMF
https://www.nairaland.com/1912965/mutual-funds

emmanuelewumi:
Send a mail to

Customerservice@unitedcapitalplcgroup.com

WhatsApp

2348168282396

emmanuelewumi:
Send a mail to

Customerservice@unitedcapitalplcgroup.com

WhatsApp

2348168282396

IamR:
Thank you, Elder; this is not bad. Let me contact them for account opening.

chidekings:
How do one apply for this mmf

Phyde:
That's my fear cause those guys operate with POS and some have knowledge of banks USSD transfer codes. I think it is best hiding some fund in MMF and leave like 50k balance in case of emergency.
Thank you sir

Akin3891:
Disable your atm card and online transfer features on your main account which you have your savings on, it's advisable not to link any debit card with your saving accounts. No link at all to my savings, except you cut my head to the bank to withdraw, hence if any kobo miss in my acc, I hold my bank responsible.