Please the experts in the house should guide us properly regarding this MMF stuff. Seems it's the only hope of small investors. Please hold us by the hand the way you did it in TBs. Even if it means opening a new thread and refer us there

Exactly my thought.... I really want to know about this MMF of a thing.....thanks Oga Feelamong

Happyfellow147:
Please the experts in the house should guide us properly regarding this MMF stuff. Seems it's the only hope of small investors. Please hold us by the hand the way you did it in TBs. Even if it means opening a new thread and refer us there

bendo75:


That will be a good way of framing my question. I only asked about that because my rate (18.28%) for 364 sailed through using true yield option on the form. Thanks.

True Yield = discount rate/(1-(discount rate*tenor/number of days in the year))

An update of the formula given yesterday

amiibaby:
Exactly my thought.... I really want to know about this MMF of a thing.....thanks Oga Feelamong

There is already a mutual funds thread posted here by @feelamong Please check back a few threads back. Meanwhile MMF has nothing to do with MMM o. It is just one type of Mutual Funds called Money Market Fund (MMF for short). You can also check stanbic asset management or ARM website for more information

Money Market Fund is good because it is for risk averse investors, yet I personally do not prefer it to investing in NTB or Bonds directly. This is because the fund owners will still have to make profit from you. Profit in form of unnecessary charges.

Retail investors still have a chance to play in the new Treasury Bills market. I spoke with a finance house and was told their new plan is to pool funds from retail investors at a minimum of N500k per investor, so that they can make up the new NTB minimum bid amount of N50m.

If this works fine, then that is a good alternative. The new FGN Savings Bond is another good alternative if it comes with a good coupon rate.

Any Gtbank debit yet for 364days. Please hala. Let me know. I'm yet to be debited. Thanks.

unite4real:


Money market fund. What they do with your money is to pool so many investors money and buy treasury bills, bonds and other secured government instruments. With the pool of fund, they get better bargains and save you the headaches of throwing in bids to do it yourself every now and then.

thanks man.......how safe are they.......are they like a finance house or something.putting hard earned money in the hands of just anybody isnt easy. whats there risk level....or how safe are they

munezo:
Money Market Fund is good because it is for risk averse investors, yet I personally do not prefer it to investing in NTB or Bonds directly. This is because the fund owners will still have to make profit from you. Profit in form of unnecessary charges.

Retail investors still have a chance to play in the new Treasury Bills market. I spoke with a finance house and was told their new plan is to pool funds from retail investors at a minimum of N500k per investor, so that they can make up the new NTB minimum bid amount of N50m.

If this works fine, then that is a good alternative. The new FGN Savings Bond is another good alternative if it comes with a good coupon rate.

i dont want to get confused.....are u saying that the new status was actually meant for banks and finance houses such that they are not allowed to apply to the primary market if they dont have a pool of upto 50m. Am sure most banks have more than 50m at any given auction.....even before this new dmo rule am not sure about the finance houses though,....

going by what u posted, individuals do not have to worry especially when they use banks or maybe banks would have a minimum amount for intending TB investors . allah this thing is just vexing me......i need clarification before the next auctions

pls guyz.....more expert clarification needed......

Yes, sadly the new minimum for NTB is N50m starting from monday next week, but some banks and finance houses will try to gather retail investors' funds into a pool to get the required N50m.
In this case, it will be left to the bank and finance houses to determine the minimum amount they will ask each retail investor to invest. The finance house I spoke with told me their minimum is N500k.

They also told me I will not be able to bid at my own rate, I will have to go with their advised rate.

zamirikpo:


i dont want to get confused.....are u saying that the new status was actually meant for banks and finance houses such that they are not allowed to apply to the primary market if they dont have a pool of upto 50m. Am sure most banks have more than 50m at any given auction.....even before this new dmo rule am not sure about the finance houses though,....

going by what u posted, individuals do not have to worry especially when they use banks or maybe banks would have a minimum amount for intending TB investors . allah this thing is just vexing me......i need clarification before the next auctions

pls guyz.....more expert clarification needed......

Lalaska:


There is already a mutual funds thread posted here by @feelamong Please check back a few threads back. Meanwhile MMF has nothing to do with MMM o. It is just one type of Mutual Funds called Money Market Fund (MMF for short). You can also check stanbic asset management or ARM website for more information

thanks I will do just that

I'm yet to be debited by GTBank. Has anyone been debited by GTB for 364days yet

GetPosted:
I'm yet to be debited by GTBank. Has anyone been debited by GTB for 364days yet

GTB debited me for 364 days Thursday evening.

bendo75:


GTB debited me for 364 days Thursday evening.

Wow. I'm yet to be debited. What is really happening?

Team16:
Any Gtbank debit yet for 364days. Please hala. Let me know. I'm yet to be debited. Thanks.

GTBank debited me Thursday evening. What rate did you go for?

hancock:

GTBank debited me Thursday evening. What rate did you go for?

18.39%. What of you.

munezo:
Money Market Fund is good because it is for risk averse investors, yet I personally do not prefer it to investing in NTB or Bonds directly. This is because the fund owners will still have to make profit from you. Profit in form of unnecessary charges.

Retail investors still have a chance to play in the new Treasury Bills market. I spoke with a finance house and was told their new plan is to pool funds from retail investors at a minimum of N500k per investor, so that they can make up the new NTB minimum bid amount of N50m.

If this works fine, then that is a good alternative. The new FGN Savings Bond is another good alternative if it comes with a good coupon rate.

If they Pool funds like you said, it becomes risky since the reversion at the expiration of the investment goes to one person or account. If that person is the investment house and that investment house has gone under before the maturity date, your money will be used to pay creditors.

Mpeace:
If they Pool funds like you said, it becomes risky since the reversion at the expiration of the investment goes to one person or account. If that person is the investment house and that investment house has gone under before the maturity date, your money will be used to pay creditors.

Aren't MMF subscribers creditors?

That's why you have to choose a credible bank or finance house to do the deal with

Mpeace:
If they Pool funds like you said, it becomes risky since the reversion at the expiration of the investment goes to one person or account. If that person is the investment house and that investment house has gone under before the maturity date, your money will be used to pay creditors.

Mpeace:
If they Pool funds like you said, it becomes risky since the reversion at the expiration of the investment goes to one person or account. If that person is the investment house and that investment house has gone under before the maturity date, your money will be used to pay creditors.

Mutual funds are regulated by SEC , the fund managers are also expected to employ an independent Trustee eg First Trustees, Union Trustees etc.

this mmf and Tb are for the big boys

anyway I also invested my shikini change in ecobank mmf 2 months ago

thinking about it I should have opted for tb, smt like 6mths

I just hope the returns are gud

emmanuelewumi:


Mutual funds are regulated by SEC , the fund managers are also expected to employ an independent Trustee eg First Trustees, Union Trustees etc.

This one is not mutual fund. It is an unofficial arrangement to help thise who do not have 50mil.

i wonder wat the current rates are now?

Mpeace:
This one is not mutual fund. It is an unofficial arrangement to help thise who do not have 50mil.

I am talking about money market mutual funds, like that of FBN Capital where investors can invest as little as 10k in money market instruments.

Wow....

Am back after my ban...

Since its obvious that we all cannot take part in the Primary markets anymore...

I want to suggest that we share info on what each of our Investment bankers are offering in the secondary markets...

At least that way we can identify the banks/Investment houses with the best rates and deal with them..

Shalom!!

feelamong:
Wow....

Am back after my ban...

Since its obvious that we all cannot take part in the Primary markets anymore...

I want to suggest that we share info on what each of our Investment bankers are offering in the secondary markets...

At least that way we can identify the banks/Investment houses with the best rates and deal with them..

Shalom!!

welcome back

feelamong:
Wow....

Am back after my ban...

Since its obvious that we all cannot take part in the Primary markets anymore...

I want to suggest that we share info on what each of our Investment bankers are offering in the secondary markets...

At least that way we can identify the banks/Investment houses with the best rates and deal with them..

Shalom!!

I just left my bank First Bank stock exchange branch Lagos. They have started receiving money for the next bidding and status quo remains.

emmanuelewumi:


I just left my bank First Bank stock exchange branch Lagos. They have started receiving money for the next bidding and status quo remains.

Looks like they want to collate and buy in their name as one first.

Were you allowed to bid at your own rate?

feelamong:

Looks like they want to collate and buy in their name as one first.
Were you allowed to bid at your own rate?

I pray they do o, looking at April though.

feelamong:


Looks like they want to collate and buy in their name as one first.

Were you allowed to bid at your own rate?

First Bank will not allow you to bid at your rate

emmanuelewumi:
First Bank will not allow you to bid at your rate

So they were already selling to you their secondary markets rates all this while?

emmanuelewumi:


I just left my bank First Bank stock exchange branch Lagos. They have started receiving money for the next bidding and status quo remains.

Oga emma tell us more?

emmanuelewumi:


I just left my bank First Bank stock exchange branch Lagos. They have started receiving money for the next bidding and status quo remains.

Thanks for this info. Just what I needed to read this mrng. Have a great day.