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Re: Mutual Funds by emmasoft(m): 11:12am On Mar 02, 2023
igbizen:
O boy, somebody don Dey drag Emmasoft work? grin grin grin

grin grin grin Na so we see am o bros.
In any case, the market is big enough for everyone to play in.

It's well.

2 Likes 1 Share

Re: Mutual Funds by emmasoft(m): 3:01pm On Mar 02, 2023
For a more stable interest rate consider
SFS Fixed Income Fund.

Get in touch/click the link on my signature to start.

1 Like

Re: Mutual Funds by sgtponzihater1(m): 10:57pm On Mar 02, 2023
Mutual funds is a passive way to build wealth while you focus on your day time job or business. Played well, It can act as a vehicle to financial security. The trick to choosing appropriate funds would be your investment time span and your risk tolerance/appetite. Many people are comfortable with money market fund as with high inflation rate interest rate swell as much as 10-12%. This is massive compared to global avarage. I forecast that it will not always be this way, especially as our currency improves and corruption is curtailed. However this provides a good opportunity to reap the gains. There are many other funds that beat MMF if you look long term rather than short term.

For mutual funds I recommend Stanbic, there are other great funds, but I don't jinx a winning formula , as I have ventured into other funds in the past, and can't compare them to the seamlessness of Stanbic mutual funds. Gains from each funds may swing but long term investors stay the course like I have done for nearly a decade. During this time I have seen funds collapse, and I have seen greedy investors get burnt looking for unrealistic returns and the SEC turn their back on providing any succour. I have seen funds collapse, new players arise, and old collapsed businesses resurface under a new brand, and naive investors rush into their trap . That's why I warn follow voyagers to be careful.

If you have specific questions kindly ask, and if you would like to open a fresh fund with Stanbic kindly use my referral code if subscribing via paper
YJWX99E4 or my link in the signature if it's online.

All the best to us all and we must all be rich

Your brother

PonziHater
Re: Mutual Funds by Ty207: 5:56am On Mar 03, 2023
@emmasoft
Pls I have a question, anytime I open my Accessbank app I always see investment that promise 5% months, which is equivalent to 50/60% annually, my question is that why will someone leave such investment and invest in mutual fund that only promise 10/12% annually?? Note I have called Accessbank bank and I was told the investment is risk free and I can withdraw my money anytime even before the maturity day.... so I will want you to enlight me more about the investment

Re: Mutual Funds by freeman67: 6:13am On Mar 03, 2023
That rate there (5%) is per annum and not for the 30 days as you are assuming.meaning is for the whole year and will have to be divided by 12 to get the real rate. So if you were to make that investment, what you will get is actually about 0.416 instead, mind you that 10% tax will also be deducted from the interest you will get.

Ty207:
@emmasoft
Pls I have a question, anytime I open my Accessbank app I always see investment that promise 5% months, which is equivalent to 50/60% annually, my question is that why will someone leave such investment and invest in mutual fund that only promise 10/12% annually?? Note I have called Accessbank bank and I was told the investment is risk free and I can withdraw my money anytime even before the maturity day.... so I will want you to enlight me more about the investment

6 Likes 1 Share

Re: Mutual Funds by emmasoft(m): 7:32am On Mar 03, 2023
freeman67:
That rate there (5%) is per annum and not for the 30 days as you are assuming.meaning is for the whole year and will have to be divided by 12 to get the real rate. So if you were to make that investment, what you will get is actually about 0.416 instead, mind you that 10% tax will also be deducted from the interest you will get.


@TY207 what @freeman67 just said is the perfect answer to your question. Sincerely speaking not just for the reason of marketing there will never be any time bank will give a rate higher than MMF rate. The truth is that part of the money you fixed or deposit with the bank at whatever rate they promised is also invested in MMF.

Always bear this in mind, any government-regulated investment is always per annum. It can only be prorated to whatever period based on the nature of the product.

Another advantage of MMF or Fixed income fund apart from the fact that the rate is higher and WHT free, you can top up with any amount at any time, the rate is not static and exit is without penalty after 30 days.

So my advice is get onboard the stanbic MMF or SFS Fixed income fund and enjoy good rates.

Currently, Stanbic MMF is 9.36% while SFS FIF is 11.05%

You can reach out to me or click the links on my signature to start investing.

3 Likes

Re: Mutual Funds by igbizen(m): 8:59am On Mar 03, 2023
emmasoft:


@TY207 what @freeman67 just said is the perfect answer to your question. Sincerely speaking not just for the reason of marketing there will never be any time bank will give a rate higher than MMF rate. The truth is that part of the money you fixed or deposit with the bank at whatever rate they promised is also invested in MMF.

Always bear this in mind, any government-regulated investment is always per annum. It can only be prorated to whatever period based on the nature of the product.

Another advantage of MMF or Fixed income fund apart from the fact that the rate is higher and WHT free, you can top up with any amount at any time, the rate is not static and exit is without penalty after 30 days.

So my advice is get onboard the stanbic MMF or SFS Fixed income fund and enjoy good rates.

Currently, Stanbic MMF is 9.36% while SFS FIF is 11.01%

You can reach out to me or click the links on my signature to start investing.




I had 1M in MMF. Then I added 4.5M and added another 4.5M the next day making the total funds to be 10M. After two weeks I withdrew 5M. And allowed the balance 5M to remain for 30days. What will be the penalty.
Re: Mutual Funds by Redoil: 9:19am On Mar 03, 2023
emmasoft:

For a more stable interest rate consider
SFS Fixed Income Fund.

Get in touch/click the link on my signature to start.
i made a transfer of 150,000 on Wednesday 1st March 2023 into my SFS Fixed income fund account, the amount is not reflcecting in my dash board
i want to be sure i am doing the right thing before mi transfer the remaining 2,000,000 can you please explain to me
Re: Mutual Funds by emmasoft(m): 9:48am On Mar 03, 2023
Redoil:

i made a transfer of 150,000 on Wednesday 1st March 2023 into my SFS Fixed income fund account, the amount is not reflcecting in my dash board
i want to be sure i am doing the right thing before mi transfer the remaining 2,000,000 can you please explain to me

Really, pls chat with me with the number on my link so that I can get some details that may not be right to share here.

Please do that now I'm online.

1 Like

Re: Mutual Funds by emmasoft(m): 9:50am On Mar 03, 2023
igbizen:


I had 1M in MMF. Then I added 4.5M and added another 4.5M the next day making the total funds to be 10M. After two weeks I withdrew 5M. And allowed the balance 5M to remain for 30days. What will be the penalty.

The penalty will be 20% of the accrued interest on the 5M you withdraw before 30 days
Re: Mutual Funds by freeman67: 10:06am On Mar 03, 2023
igbizen:


I had 1M in MMF. Then I added 4.5M and added another 4.5M the next day making the total funds to be 10M. After two weeks I withdrew 5M. And allowed the balance 5M to remain for 30days. What will be the penalty.

No penalty. However, your subsequent daily rate after the withdrawal with be calculated and credited based on your 5M balance.

2 Likes

Re: Mutual Funds by TheBTCinvestor: 11:35am On Mar 03, 2023
Please wats wrong with Stanbic Money Market Fund...I made a withdrawal since Tuesday 28th Febuary and since then iv not gotten payment into my bank account. What is really going on?
Re: Mutual Funds by emmasoft(m): 12:21pm On Mar 03, 2023
TheBTCinvestor:
Please wats wrong with Stanbic Money Market Fund...I made a withdrawal since Tuesday 28th Febuary and since then iv not gotten payment into my bank account. What is really going on?

If you have done the needful from your end, kindly send a mail to investments@stanbicibtc.com to complain.

I think it's a transfer issue from the custodian bank and may not be unconnected to the current general electronic channels breakdown within the banking industry otherwise, redemption takes few hours for your money hit your account
Re: Mutual Funds by TheBTCinvestor: 12:30pm On Mar 03, 2023
emmasoft:


If you have done the needful from your end, kindly send a mail to investments@stanbicibtc.com to complain.

I think it's a transfer issue from the custodian bank and may not be unconnected to the current general electronic channels breakdown within the banking industry otherwise, redemption takes few hours for your money hit your account

Iv called thier contact center tire...dey saying its network..which kain mumu network is that...since Tuesday! Iv withdrawn all my money from stanbic..I won't use them again
Re: Mutual Funds by NL1960: 12:32pm On Mar 03, 2023
.
Re: Mutual Funds by NL1960: 12:35pm On Mar 03, 2023
igbizen:


I had 1M in MMF. Then I added 4.5M and added another 4.5M the next day making the total funds to be 10M. After two weeks I withdrew 5M. And allowed the balance 5M to remain for 30days. What will be the penalty.

freeman67:


No penalty. However, your subsequent daily rate after the withdrawal with be calculated and credited based on your 5M balance.

He withdrew after two weeks(14 days) of opening and it is supposed to be operated for 30days initially. So there should be a penalty.
Re: Mutual Funds by Boyhood: 12:44pm On Mar 03, 2023
NL1960:




He withdrew after two weeks(14 days) of opening and it is supposed to be operated for 30days initially. So there should be a penalty.
He didn't say after two weeks (14days ) of opening. He had 1m in the account and we don't know for how long he has been using the account or for how long he had the 1m in the account.
Re: Mutual Funds by NL1960: 12:53pm On Mar 03, 2023
Boyhood:

He didn't say after two weeks (14days ) of opening. He had 1m in the account and we don't know for how long he has been using the account or for how long he had the 1m in the account.

That's true. He needs to clarify that aspect.
Re: Mutual Funds by emmasoft(m): 1:43pm On Mar 03, 2023
NL1960:


That's true. He needs to clarify that aspect.

If the 1M has been there in the account for 30 days or more he will pay a penalty on the accrued interest on 4M of the 5M withdrawn otherwise it's as I stated earlier.
Re: Mutual Funds by freeman67: 2:28pm On Mar 03, 2023
NL1960:




He withdrew after two weeks(14 days) of opening and it is supposed to be operated for 30days initially. So there should be a penalty.

I don't think they will be any penalty. He didn't withdraw all the money. Also, the penalty normally is from the interest not principal. So, even if they would be, it would not reflect.
Re: Mutual Funds by lolaluv1(f): 2:45pm On Mar 03, 2023
What is happening with Stanbic MMF? The January profit was liquidated, and now February profit too. But none of this was paid to me.
Is it reinvested or what?

Now even the daily returns that used to be uploaded is no longer showing.

Please who has information about them? I just want to have a possible explanation before I do them an email...
Re: Mutual Funds by emmasoft(m): 3:44pm On Mar 03, 2023
lolaluv1:
What is happening with Stanbic MMF? The January profit was liquidated, and now February profit too. But none of this was paid to me.
Is it reinvested or what?

Now even the daily returns that used to be uploaded is no longer showing.

Please who has information about them? I just want to have a possible explanation before I do them an email...

There is no problem, they just changed their method of dividend payment/reinvestment.

Before now dividend we're reinvested randomly but from this year January they decided to make it a monthly affairs.

You can check to see that your capital has increased by the accrued interest for February.

Generally MMF pay/reinvest interest quarterly but IBTC operates this monthly model of monthly payment.

2 Likes

Re: Mutual Funds by emmasoft(m): 3:52pm On Mar 03, 2023
freeman67:


I don't think they will be any penalty. He didn't withdraw all the money. Also, the penalty normally is from the interest not principal. So, even if they would be, it would not reflect.

There is always a penalty on the interest of any fund deposited that is not up to 30 days and withdrawn. Why some investors don't seem to notice is because the amount deducted may be very small compared to what they received.

1 Like 1 Share

Re: Mutual Funds by igbizen(m): 4:01pm On Mar 03, 2023
freeman67:


No penalty. However, your subsequent daily rate after the withdrawal with be calculated and credited based on your 5M balance.
This is what am seeing.
The daily interest dropped. But at the end of February I was credited the entire accrued interest. Fund was placed in MMF January ending.
Re: Mutual Funds by igbizen(m): 4:06pm On Mar 03, 2023
Boyhood:

He didn't say after two weeks (14days ) of opening. He had 1m in the account and we don't know for how long he has been using the account or for how long he had the 1m in the account.
1M has been there since November last year. MMF account was opened in the year 2017. Additional 9M was added January ending this year. Second week of February, 5M was withdrawn. And 5M is still in the account till date. I was expecting a deduction from my accrued interest at the ending of February. But that was not done. So I was wondering if the deduction will be done on a later date.
Re: Mutual Funds by igbizen(m): 4:12pm On Mar 03, 2023
lolaluv1:
What is happening with Stanbic MMF? The January profit was liquidated, and now February profit too. But none of this was paid to me.
Is it reinvested or what?

Now even the daily returns that used to be uploaded is no longer showing.

Please who has information about them? I just want to have a possible explanation before I do them an email...
Same here daily interest no longer comes on the statement. I normally note my previous accrued interest the previous day. Then I will do the maths the next day to know what was paid as daily interest and check if it correspond with the interest rate stated.
Re: Mutual Funds by igbizen(m): 4:14pm On Mar 03, 2023
emmasoft:


There is always a penalty on the interest of any fund deposited that is not up to 30 days and withdrawn. Why some investors don't seem to notice is because the amount deducted may be very small compared to what they received.
Ok
Re: Mutual Funds by mazinaija: 6:40pm On Mar 03, 2023
igbizen:

Same here daily interest no longer comes on the statement. I normally note my previous accrued interest the previous day. Then I will do the maths the next day to know what was paid as daily interest and check if it correspond with the interest rate stated.
I am having similar issues with my AXA mansard mmf.
Re: Mutual Funds by Burchester: 10:08pm On Mar 05, 2023
Which money market fund provider is the best ?

1 Like

Re: Mutual Funds by emmasoft(m): 11:31am On Mar 06, 2023
Burchester:
Which money market fund provider is the best ?

Come over to Stanbic or EDC asset Mgt.
In fund management the word best is relative.
Each of them provided they are regulated by SEC it's okay.
The other things are all relative and most times based on individual interests/preferences.

2 Likes

Re: Mutual Funds by Plus10(m): 10:27pm On Mar 07, 2023
Looks like the StanbicIBTC MMF daily rate is becoming poorer by the day,I don't just understand the daily return shown on my app,so poor!
Re: Mutual Funds by Emmaesty(f): 11:59pm On Mar 07, 2023
Plus10:
Looks like the StanbicIBTC MMF daily rate is becoming poorer by the day,I don't just understand the daily return shown on my app,so poor!
Same with United Capital. My friend complains about it daily

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