Redeemed:
Hello house.

Please what is the current interest rate of Stanbic MMF? I just want to be sure because i have an account with them and it seems the interest rate has dropped from 12%.

jujutom:


11.41% as at today 18th Aug 2018

brainhack:


Please what’s your take on Axa-mansard’s Annual management fee (1.25%). Is it on the interest accrued or it includes the principal.

1.25% of N5,000,000 = N62,500
1.25% of N10,000,000 = N125,000
1.25% of N50,000,000 = N625,000

If its includes the principle hmmm. What happens if MM instruments stays on course with this nose dive and lands between 6-8%. We would surely feel that 1.25% oo.

Anybody that has the answer should please clarify.

grosy:
pls I need answer if I invest 1000000 million wit stabic ibtc money market what is my interest? for 1yr thank

yak:
FBN is the worst. when u even enter any firstbank branch n mention Mutual fund they'll be looking at u like u missed road.
I remember the last time I was at one of the branches in 2015, the woman directed me to mutual benefits office adjacent them

eezeribe:
Hello prospective investors, if you are interested in opening a Stanbic IBTC Money market fund, if you need guidance on how to fill the form, I have a PDF copy of an already filled form from STANBIC bank herself, the form serves as a guiding template.
It is free of charge. Happy Sunday.

ronnyboo:


Why first bank dey like this? So archaic! Ah! Don't they see what their mates do? I even regret the savings insurance I started with them some months back for the same reason of poor technological advancements.

beyolah:
I have a Stanbic MMF account and Axamansard.
To be sincere, I'm enjoying Axamansard more.

*I did everything online; opening account, submitting my documents and funding my account. They also have an app.

*I've made withdrawals and I get them before 24hours.
My first withdrawal dropped in my account on the same day.
My last withdrawal request was at night, I got the money after close of work the next day
They treat withdrawal requests that come in after 1:30pm the next day

*They respond promptly to emails and I've even requested a call back, which they did. Infact, my line didn't go through so they sent an email requesting for alternate number to reach me on.

The only but so far is that when I try to top up my account through the app, they include some transaction charges. To avoid this, I use their web page, I discovered its free from the webpage .

Cc
irookie
Druss
Brainhack

fabulous2000:

this ur imaginary million.... it's not even pronouncable... lol..

mizGene:
Hi guys, pls what exactly is Stanbic's mgt fee for MMF?

ojoh002:
Who can answer this?

4601CE:
I thought Stanbic mmf people here claimed the top up will reflect within 48 hours
HOw can I top up since 17th of August and up till this moment it’s not reflecting
Or it’s because of weekend?

brainhack:


When someone or a group of people are being evasive about an aspect of the thing under consideration, it is a “gaint-big” red flag for me. I even tried reaching out to Axa-mansard people regarding their MMF’s “management fee” and still did not get any answer.

If the 1.25% is chargeable on the whole account (Principal + Interest) thats a big WAWU. It makes their rates significantly less attractive compared to that of their competitors; so goodluck to them.

Anyway I have decided pitch my tent with FBN. I should be able to complete all the necessary this coming week.

brainhack:


When someone or a group of people are being evasive about an aspect of the thing under consideration, it is a “gaint-big” red flag for me. I even tried reaching out to Axa-mansard people regarding their MMF’s “management fee” and still did not get any answer.

If the 1.25% is chargeable on the whole account (Principal + Interest) thats a big WAWU. It makes their rates significantly less attractive compared to that of their competitors; so goodluck to them.

Anyway I have decided pitch my tent with FBN. I should be able to complete all the necessary this coming week.

rationalmind:


This has been ironed out before now. The rates quoted are net of charges

AbbyE:


We have answered this question a lot of times , rates are net of charges.

brainhack:




Yes, everyone’s rate seems to be net of charges but I don’t want to assume that Axa-mansard’s “Annual Management fee” has already been charged to the rate publicized and such wont be chargable to your account at any point in time.

I wouldn’t also advise anybody to go ahead under an assumption except you are confirming this as their staff or someone that got firsthand information from them or someone that have had MMF account with Axa-mansard for over a year and they have never charged you Annual management fee.

So please just for clarity, which of the above category do you fall in.

yemisolar:
Any of you guys considered Renmoney? Their rate is about 14%for 1m and above.

irookie:


Nice debate to deliberate on

Things I look for while choosing which MMF (in no particular order)
1. Interest Rate.
2. Managers credibility (me too no wan hear "shoot bird mama fly" )
2. Management fees.
3. Easy cash out.

I plan to run 3 diff MMF along with my TB (now i have 2 stanbic and Investment one, would have opted for FBN but i get personal beef with them) STABIC dey fall my hand wella just hoping they improve.

still following this thread to first hand info from persons that has an active account with other funds manager (I don't really believe in any staff words cos my myself know how to sell my opinion to my wife

rationalmind:


Please read through the page below

https://www.nairaland.com/1912965/mutual-funds/70

rationalmind:


Mansard is also net of fees, just confirmed.

Cc: Megacontrol

brainhack:




Bro, you still didn’t say how you came about this info. Please do you have a mail from Axa-mansard supporting this claim or have you been investing in their MMF for over a year?

I just got off the phone with a friend that works with Axa-mansard. He stated that yes the rates published are net of charges but at some point later the Annual Management Fee (1.25%) would be deducted from your account.

He has promised to get back with an official response when work resumes because he is presently unsure whether it is deducted at a particular time of the year or when an event is triggered (eg payout).

I would be sure to relay this if he gets back to me with more info. As I stated before I won’t invest under an assumption and wouldn’t advise anybody to do so until the assumption become a fact (bring your strong evidence).

rationalmind:


You know, you remind me of my days arguing in the religion section. What exactly qualifies as strong evidence?

If I tell you I have a mail from them and even share the mail, it's no evidence it wasn't doctored. I could simply be a marketer for them, using all the tricks in the book to bring you in

And if it's me telling you I've been with them for a year and wasn't charged, you may ask me to share my account statement for that year showing I wasn't debited. Of course even if I share, it's still no evidence, I could have doctored it.

It's good you're making your own independent enquiry. It appears it's the only thing that qualifies as evidence and not what I post here.

rationalmind:


You know, you remind me of my days arguing in the religion section. What exactly qualifies as strong evidence?

If I tell you I have a mail from them and even share the mail, it's no evidence it wasn't doctored. I could simply be a marketer for them, using all the tricks in the book to bring you in

And if it's me telling you I've been with them for a year and wasn't charged, you may ask me to share my account statement for that year showing I wasn't debited. Of course even if I share, it's still no evidence, I could have doctored it.

It's good you're making your own independent enquiry. It appears it's the only thing that qualifies as evidence and not what I post here.

brainhack:




Bro, you still didn’t say how you came about this info. Please do you have a mail from Axa-mansard supporting this claim or have you been investing in their MMF for over a year?

I just got off the phone with a friend that works with Axa-mansard. He stated that yes the rates published are net of charges but at some point later the Annual Management Fee (1.25%) would be deducted from your account.

He has promised to get back with an official response when work resumes because he is presently unsure whether it is deducted at a particular time of the year or when an event is triggered (eg payout).

I would be sure to relay this if he gets back to me with more info. As I stated before I won’t invest under an assumption and wouldn’t advise anybody to do so until the assumption become a fact (bring your strong evidence).

AbbyE:


Lol are you sure your friend actually works for them ?
Because I've had an AXAMansard account since last year April(17 months) and no separate deduction has been made