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Nairaland Forum / Nairaland / General / Investment / Mutual Funds (1009218 Views)
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Re: Mutual Funds by jaychubi: 9:10pm On Oct 04, 2017 |
Mup4life: Pls do I get paid my profit automatically after 30 days holding or I ve to redeem my profit by myself monthly. Please shed some light on this? |
Re: Mutual Funds by Mup4life: 9:16pm On Oct 04, 2017 |
jaychubi:you have to redeem monthly, it will only be paid automatically quaterly. |
Re: Mutual Funds by jaychubi: 9:21pm On Oct 04, 2017 |
Mup4life: Ok since compounding interest is nt possible monthly does it make sense leaving profits for a quarter b4 it can compound or its better redeemed monthly n reinvested |
Re: Mutual Funds by Mup4life: 9:28pm On Oct 04, 2017 |
jaychubi:which bank did you invest with? For stanbic ibtc i spoke with their customer care agent today and he told me they just started daily compounding. In any case compounding your profits if you don't need it urgently is the way to go. |
Re: Mutual Funds by jaychubi: 9:30pm On Oct 04, 2017 |
Mup4life: Stanbic ibtc mmf |
Re: Mutual Funds by afroxyz: 10:55am On Oct 05, 2017 |
Mup4life: Thanks a lot. With first bank MMF does one get daily compounding? |
Re: Mutual Funds by Mup4life: 11:59am On Oct 05, 2017 |
afroxyz:No idea, i only use stanbic and the compounding had been done quaterly, but ystrdy i talked to a customer care agent and he said they just started daily compounding. |
Re: Mutual Funds by awesomeJ(m): 8:18pm On Oct 05, 2017 |
Kemade2007:If I remember correctly, sometime in May, I placed a redemption request around 10a.m for about 75% of my investment, and the funds hit my account the same day. Stanbic is really cool. What I don't understand now is the fact that the interest on my funds from the last quarter is about 18% more than I expected, there have been some extra additions that I don't understand. Anyone has an explanation for this please? |
Re: Mutual Funds by Kemade2007(f): 8:36pm On Oct 05, 2017 |
awesomeJ: Yeah also received the extra additons but don't understand. Based on my daily calculation,the interest on my fund is around 17.47% but it was about 18%+ on their website |
Re: Mutual Funds by Kemade2007(f): 8:42pm On Oct 05, 2017 |
Please house, when will the interest rate likely to drop since TB rates is now dropping or should we still expect these higher rate for this year |
Re: Mutual Funds by Mup4life: 9:18pm On Oct 05, 2017 |
Stanbic pumping some big profits into my funds, hope all is well got additional 5k plus today. Make dem no raise my hope come dash am o. |
Re: Mutual Funds by Kemade2007(f): 9:24pm On Oct 05, 2017 |
Kemade2007: Pls any idea on ds |
Re: Mutual Funds by Kemade2007(f): 9:25pm On Oct 05, 2017 |
Mup4life: Though my funds with them not much bt additional profit being credited to my account |
Re: Mutual Funds by Mup4life: 9:31pm On Oct 05, 2017 |
Kemade2007:am suspecting some kind of technical error, think everything would be normalized. |
Re: Mutual Funds by dotcomnamename: 9:48pm On Oct 05, 2017 |
Kemade2007: I don't understand this StanbicIBTC Money Market Funds account O! My capital was in excess of 250, when i check it yesterday the 250 has reduced to 150. What do you think is going on? ![]() |
Re: Mutual Funds by jayfierce(m): 11:21am On Oct 06, 2017 |
dotcomnamename:Mine dey even go up. Tried calling them yesterday but couldn't reach them. |
Re: Mutual Funds by jayfierce(m): 11:28am On Oct 06, 2017 |
Kemade2007:Lol. I thought I was the only only one that carries out daily calculations. Your calculation is spot on. Its usually ±1% of the actual percentage on their website. I've argued severally with them about this and asked them to be more transparent in their calculations and also show us what is being paid in daily. The extra additions the last few days have been slightly frightening. They are yet to harmonize the mobile app data with the website data. Mobile app still shows interest carryover from last quarter. |
Re: Mutual Funds by beyolah: 11:41am On Oct 06, 2017 |
I just got this email
|
Re: Mutual Funds by dotcomnamename: 11:58am On Oct 06, 2017 |
beyolah: I received the same. |
Re: Mutual Funds by Kemade2007(f): 12:06pm On Oct 06, 2017 |
dotcomnamename: I also received it |
Re: Mutual Funds by Kemade2007(f): 12:07pm On Oct 06, 2017 |
jayfierce: Yes someone needs to calculate it maybe they will be more transparent this time around |
Re: Mutual Funds by Investnow2017: 12:59pm On Oct 06, 2017 |
Stanbic Money Market Fund now reinvest your accrued interest earned, and the resulting earnings are added to your original principal to form a new principal. The idea is to enable their clients to maximize their earnings and to allow for more transparency in the management of the Fund. Sounds great, except that they ought to have communicated with their clients before implementing. I spoke at length with them and I can feel their seriousness. Enjoy the enhanced earning model. . 1 Like |
Re: Mutual Funds by Kemade2007(f): 1:01pm On Oct 06, 2017 |
Investnow2017: Cool. Getting more interested |
Re: Mutual Funds by Investnow2017: 1:01pm On Oct 06, 2017 |
dotcomnamename: Most likely, part of your interest has been reinvested, and the earned interest will be credited to your account by next week. Keep a tab and endeavour to speak with your client officer for better clarification. . 1 Like |
Re: Mutual Funds by Mup4life: 3:58pm On Oct 06, 2017 |
Investnow2017:Nice development, was shocked that my profit was in excess of over 5k, had to call and was told same thing. A very welcome development. |
Re: Mutual Funds by slegerman(m): 4:04pm On Oct 06, 2017 |
Investnow2017: At what frequency is one earnings added to the original principal? Someone on this thread said daily, Is that correct,? Going by the discussion you had with their rep. |
Re: Mutual Funds by jaychubi: 5:38pm On Oct 06, 2017 |
I noticed that the available balance and interest earned does not always agree. Take for example someone that invested 500000. His available balance will show #504686.78 and interest as #5001.77 Instead of #504686.78 as available balance and interest as #4686.78 What's causing the difference someone please explain Cc mup4life Sgtponzihater1 Ernie4life |
Re: Mutual Funds by Kemade2007(f): 5:43pm On Oct 06, 2017 |
https://nairametrics.com/asset-manager-blackrock-has-renewed-interest-in-nigerian-bonds/ Guru in the house pls what is the implication of this to Nigerian investors |
Re: Mutual Funds by Mup4life: 5:50pm On Oct 06, 2017 |
jaychubi:This is caused by their new implementation, check your recent investment you would see the balance of the interest there. The recent investment will have something like 500,314.99, this is your new principal. The 314.99 + 4686.78 =5001.77 |
Re: Mutual Funds by Kevostica(m): 5:54pm On Oct 06, 2017 |
Mup4life:hw much did u invest that was able to give u 5k. Dont understand the recent development. i used to get daily interest of all most N100 but since october they paid me N42.68 and 186.40 for 3rd and 5th of October respectively. I dont realy know the formula for this recent calculations for investment of 200k. pls explain better |
Re: Mutual Funds by Mup4life: 5:58pm On Oct 06, 2017 |
Kevostica:really don''t know the basics for these caculations you just have to speak to a customer care agent. The money credited in excess has been removed, guess they still adjusting the system. |
Re: Mutual Funds by ijeshaboy: 7:30pm On Oct 06, 2017 |
Please I did an online subscription of a substantial amount(stambic mmf) in the morning and it has not yet reflect )in my e account since morning, and I noticed some amount has been deducted from my balance, what is the way forward? |
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