₦airaland Forum

Anybody subscribed to ARM Discovery Balanced Fund or Stanbic Balanced Fund?

What to expect?

princezzz:
When i withdrew from stanbic, i withdrew to the last kobo.
There is an option to withdraw all funds, i think it is on the web version.

✅ Redeem All
It is available in BlueNest

Sagaciousd1:
Thanks a lot.

Yes. MMF rates are slightly downward atm.
Don't know if it is a sign...

We shall see.

AncestralPowers:
Yeah, Stanbic rate on mmf is a complete shit, in about 3 months time, it is going to be one year since stanbic had been battling around 15%+ on their mmf rate, now imagine you have over 50m+ naira with them, earning 15%+ almost a year, then calculate having same amount with other fund managers with better rates of over 17+, the differences are gonna make you cry as if someone poured hot water on you...

Stanbic swift withdrawal process at the moment is exactly how things are supposed to work out whenever you need your money, but because our system is so messed up with inefficiency, we often see such normal processes as God working miracles and wonders.


With other fund managers with better interest rates, but slower withdrawing process, just try to always initiate your fund withdrawing process days/weeks before you gonna urgently need your money...

15.07% today 🌚

But when you initiate a withdrawal days weeks in advance, wouldn't you stop earning (on that amount) while the process is ongoing?

Sadly, the inefficiencies in the system will always bottleneck things.

You are welcome

Amhappy:
Thank you

doublesigh:
I made a minor withdrawal too. Under 50k, I use Cowrywise for all that but I recently made a new GTB account so I just decided to test the entire platform.

Doesn’t seem like I’d be moving my money from Cowrywise to them. But it would have been great if I could see the whole investment and bank balance in one single app

Yea. I totally get it. That was also why I on boarded.... visualise everything at once.

It doesn't always work well...these banks🌚

Recently diversified into First Ally and ARM though.

Iamblessed8888:
Yup

Thanks

Bluearrow:
One of the best

Top 5?

Because of:
- Rate?
- Withdrawal speed (T+1/2)?
- App experience?
- etc

AncestralPowers:
Lol... It is better to have a good and competitive rate, with few hours/days delay whenever you want to withdraw your money, than this low rate stanbic is giving with instant withdrawal.

15.13% today. Crazy work.

doublesigh:
MMF withdrawals too take much more longer. Been waiting for a withdrawal to land since last week Wednesday

Made a minor withdrawal from GT MMF, it was almost instant. May depend on the amount or they were just on their best behaviour.

Amhappy:
My verification on investar app has refused to work

Which Tier?

You can email or call them.

Sagaciousd1:
Is first ally mmf still good for consideration?.....I am in the process of opening an account

The rate, 17.55% today, is quite competitive.

Unless they have other issues, I would say go ahead.

Iamblessed8888:
Wow seems stanbic mmf withdrawal is now super fast like first ally. By 3:00am i made a withdrawal and by 3:07am it has landed. I’m impressed

The MMF interest rate on First Ally is net, yea?

Chidimercy:
Please I credited my Stanbic IBTC mutual fund since yesterday being 1st early in the morning and uphill now its yet to reflected. I used my personalised account for this transaction. Please what could be the cause and how do I resolve this? Already sent them an email and I am yet to get a response.

Call customer care if you can.

Going forward, always transfer directly to your wallet (virtual account)...not instant, but within minutes. Then operate from there.

AncestralPowers:
The funniest part is that these fund managers frequently upgrade their apps or online services, and after their upgrades, the whole service becomes more unreliable and ineffective, I begin to wonder what their IT experts are frequently upgrading.

Seriously, a login, wallet and portfolio updates are never guaranteed. For days now, the Investments tab does not fetch fund data (stuck on loading, with multiple toasts 😩)

Stanbic IBTC na big name but damn. Show working!

Ujunkem:
Is anyone having problem logging into BluNest since yesterday?

Stanbic really need to work on BlueNest. The authentication is unreliable, especially on the 1st of every other month (payment day)

yorke1:
Yield matters. It's hard to stay excited about a 15% Money Market Fund when GT Fund Managers is offering 17.23% as of today. Stanbic IBTC needs to do better.

Is the 17.23% (or 17.48%, as of today) what you get or is it without the 1% management fee and WHT?

Bluearrow:
Very fat lie @bold
Mmf can never perform like stock or equity long term. Definitely not in a country like Nigeria where inflation is running at uncontrollable speed.

The inflation rate in Nigeria is very high, and so is the interest rate.

MadmaxX489:
Hello house,
Can someone be kind to provide a list of the current interest yield of top rated Mutual funds providers.
I am seeking to move away from Meristem Mutual funds as the yield unattractive at 15.71%

Is 15.71% really unattractive?

The Stanbic account is for the wallet funding.

david4mex:
I started doing Stanbic MMF last month and from the onset, the medium to fund my account is a Stanbic Ibtc account and Zest payment

Not necessarily because banks are also big companies. Ordinarily, the financial system regulators should make sure that a company has what it takes to pay for its commercial paper offering. Like how banks are being forced to recapitalise.

Iamblessed8888:
Not a huge fan of commercial papers either. I rather do fixed deposit.

The company can default. Infact the bigger the company, the more the risk of default because they know you cant fight them. Imagine taking someone like Dangote to court. Even the judge will be laughing at you

Yea. You are right. It is an improvement...just still low😞
Meanwhile, do you mean the limit is 7.5M if in MMF?

Preator:
Well, its an improvement over the old 500k limit. And it's okay for lots of Nigerian individuals. Data from the Presidential committee on tax actually indicates that over 90% of nigerians have less than 1m in their bank accounts. So only institutions and HNIs are left largely with the risks.

Plus i no dey get cash for my banks anyway. If not for SCB with high limits. And even that one sef, just put the money in mmf. It counts towards their 7.5m wahala

I have once tweeted about this NDIC protection limit. 5 million is quite small.

Preator:
Oga, i am not sure which industry you work in o but i make a living, until recently, as a Business Finance advisor. Any deposit in a nigerian bank, including those held as a custodian have the same NDIC protection limit which is N5m. Anything after this you will get after the assets have been sold, if money remains.

There is no subcontracting. The Custodian acts as a banker to the fund manager same way they act as bankers to other individuals and businesses. The fund manager gives instructions to the custodian same way you give instructions to your bankers via transfer instructions.

Government needs money and your fund manager decides to lend. They instruct the custodian to move money to government. Government repays later to the custodian with interest. The fund manager instructs the custodian to credit the account of unit holders (investors) with their money and accrued benefits. I'm sure you've seen that your inflows come from UBA.

If UBA fails after government has remitted what it owes, na gobe be that. During winding up process, ordinary depositors are the last to be settled apart from the NDIC guaranteed limits.

You are free to select your custodian as long as its not your own group bank.

By the way, Stanbic has well over 2Trillion in AUM, only N5m of that is guaranteed by NDIC. You posit that the stanbic Group will settle that amount for reputation sake and without any regulatory obligations to do so? How much is their entire balance sheet in nigeria?

This is all hypothetical anyway since it's almost impossible for banks(DMB) to fail now in nigeria. Heritage will be the last one for a long while.

othermen:
Our own Hunter Biden.

I heard he does drugs too.

Doyou2019:
I bet he's ruing it already. Those two have completely changed everything about Arsenal, and Pep is partly to thank for that.
Fearless!!!

We thank him. And will invite him for street parade

Doyou2019:
Real utility player.

I tell you. and if Arsenal end up winning the League, Guardiola would regret letting him (and Jesus) go to a competitor.

Doyou2019:
No be today Zinchenko don dey popo Liverpool defence. Na from eim City days sef. So make una no surprise if that Bororo Ukrainian help himself to a goal and an assist for this tie.

The guy can actually play just about anywhere on the pitch.

clems88:
Van dyk is a goat

He used to be a GOAT

pseudonomer:
Oga, this is before tax. The amount you’ll use for one-year house rent in Nigeria, you’ll use the same to pay for one month in Europe.

If you see money for better house that is

justwise:
[b]

Stories like this is far too common now, people leaving Nigeria with little or no money to survive abroad, then we have threads like this people complaining that abroad is hard and Nigeria is better but they will never book the next available flight back to Nigeria and allow us to hear word

He said nobody send you , na for Naija person send am?

Him even see work wey 50% de cover bills. Ask Nigeria students at home how far.

Shevchenkko:
No place is totally safe on earth. Rip bro

Lol. If you know the current state of California/Francisco, you go understand

This guy is just unbelievably dumb.