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Re: Mutual Funds by Ugosample(m): 12:39pm On Nov 11, 2017
sabanageorge:

Stanbic is good. Very professional. It's been a good ride with them and they respond to mails/inquiries when you need them to.

I can't say the same of FBN. Not gotten login details now for about a month. I actually wish I hadn't started anything with them.

Meanwhile, I'm really thinking of joining an investment WhatsApp group. If anyone knows anyone who knows anyone managing such a group, I'd like to join and share investment ideas smiley


That's good.

I guess I'll just pitch my tent with Stanbic then.
Re: Mutual Funds by Mup4life: 12:51pm On Nov 11, 2017
sabanageorge:

Stanbic is good. Very professional. It's been a good ride with them and they respond to mails/inquiries when you need them to.

I can't say the same of FBN. Not gotten login details now for about a month. I actually wish I hadn't started anything with them.

Meanwhile, I'm really thinking of joining an investment WhatsApp group. If anyone knows anyone who knows anyone managing such a group, I'd like to join and share investment ideas smiley
@bolded you can create a thread for this, i love hearing of new investment opportunities.
Re: Mutual Funds by Investnow2017: 2:52pm On Nov 11, 2017
sabanageorge:
Does anyone know how long it takes to get money off stanbic MMF after applying for online redemption?

I have done twice and it was within 12hours. Though the official range is within 5 week days.

1 Like 1 Share

Re: Mutual Funds by powerfulG: 5:18pm On Nov 11, 2017
I added another N100,000 to my already existing N100,000 MMF in Stanbic since Thursday and it has not reflected in my E account. I still see N100,000 as my total investment. I went to the branch ( Bright Street Onitsha) to complain on Friday and they assured me it will be done that same day. Today I checked online and I saw it has not been done. Anybody working with Stanbic should send my message to the Head of Operations of Bright street branch that she must pay my accrued interest for Fri, Sat and Sunday because I am coming to collect my money since they have refused to invest it. I transfer N100,000 from my Union Bank account into their MMF account and they collected all evidence of deposit into the said account and refused to add to my already existing N100,00. I am boiling now as I feel defrauded.
Re: Mutual Funds by Nobody: 5:46pm On Nov 11, 2017
Investnow2017:


I have done twice and it was within 12hours. Though the official range is within 5 week days.
please can you tell me more about this MMF account something? I'd love to invest in it. What are the requirements? Thanks in addy.
Re: Mutual Funds by kaze4blues(m): 5:57pm On Nov 11, 2017
what's the current rates for mmf at stanbic??

Are interests calculated on weekends? Or only working days
Re: Mutual Funds by afroxyz: 6:54pm On Nov 11, 2017
So finally went to FBN quest office and got things sorted after visiting the bank branch. The staff there didn't give me a convincing reply. When I got to FBN quest, was able to do the complete registration which I didn't do at the bank earlier. Expecting log in details by Tuesday.i think the process is faster when you go directly to the asset Management office

2 Likes

Re: Mutual Funds by Investnow2017: 9:58pm On Nov 11, 2017
kaze4blues:
what's the current rates for mmf at stanbic??

Are interests calculated on weekends? Or only working days

Everyday of the year; weekends inclusive.
Re: Mutual Funds by kaze4blues(m): 10:22pm On Nov 11, 2017
Investnow2017:


Everyday of the year; weekends inclusive.

Thank you.

Can you pls shed light on stanbic guaranteed fund? In terms of ROI and risks to principal
Re: Mutual Funds by MrBigiman: 6:12am On Nov 12, 2017
sabanageorge:

Stanbic is good. Very professional. It's been a good ride with them and they respond to mails/inquiries when you need them to.

I can't say the same of FBN. Not gotten login details now for about a month. I actually wish I hadn't started anything with them.

Meanwhile, I'm really thinking of joining an investment WhatsApp group. If anyone knows anyone who knows anyone managing such a group, I'd like to join and share investment ideas smiley

Stanbic is quite professional
Re: Mutual Funds by RealityShot: 9:14am On Nov 12, 2017
powerfulG:
I added another N100,000 to my already existing N100,000 MMF in Stanbic since Thursday and it has not reflected in my E account. I still see N100,000 as my total investment. I went to the branch ( Bright Street Onitsha) to complain on Friday and they assured me it will be done that same day. Today I checked online and I saw it has not been done. Anybody working with Stanbic should send my message to the Head of Operations of Bright street branch that she must pay my accrued interest for Fri, Sat and Sunday because I am coming to collect my money since they have refused to invest it. I transfer N100,000 from my Union Bank account into their MMF account and they collected all evidence of deposit into the said account and refused to add to my already existing N100,00. I am boiling now as I feel defrauded.
oga.. You used manual method instead of online topup..its slower man..they have to confirm your transfer etc.. IT TAKES 48 WORKING HOURS..you hav only waited 24hrs
Re: Mutual Funds by jp130(m): 12:01pm On Nov 12, 2017
Plz next time use online subscription. Its faster
Re: Mutual Funds by jayfierce(m): 12:14pm On Nov 12, 2017
powerfulG:
I added another N100,000 to my already existing N100,000 MMF in Stanbic since Thursday and it has not reflected in my E account. I still see N100,000 as my total investment. I went to the branch ( Bright Street Onitsha) to complain on Friday and they assured me it will be done that same day. Today I checked online and I saw it has not been done. Anybody working with Stanbic should send my message to the Head of Operations of Bright street branch that she must pay my accrued interest for Fri, Sat and Sunday because I am coming to collect my money since they have refused to invest it. I transfer N100,000 from my Union Bank account into their MMF account and they collected all evidence of deposit into the said account and refused to add to my already existing N100,00. I am boiling now as I feel defrauded.
You should have scanned the evidence of payment and additional subscription form. Then sent both to mutualfunds@stanbicibtc.com.

Online users now have only to upload their evidence of payment to top up their account according to them.

1 Like 1 Share

Re: Mutual Funds by Investnow2017: 11:21am On Nov 13, 2017
kaze4blues:


Thank you.

Can you pls shed light on stanbic guaranteed fund? In terms of ROI and risks to principal

Here is what I wrote sometime ago on Stanbic IBTC MMF:

Since they too are into the money market, it works like the computations we have all learned here with TBills. From their Stanbic IBTC App you can monitor what your fund earns on a daily basis. Your daily earnings are summed up at the end of every quarter and credited to your mutual fund account to increase your initial Principal and it is upon this further earnings will be based. In other words, your fund is compounded every quarter, that is the earning power where you have a sizeable fund in your account. And they always encourage that you do not withdraw your earnings so you can leverage on the compound interests being paid quarterly.

The App always shows you the cumulative earnings as the quarter runs. Easy for you to determine always what your fund pays you monthly - No tax, no other deductions apart from the less than five hundred naira fee deducted by UBA.

The rates are currently, as of yesterday, 17.5% The sweet thing is watching your money grow everyday. You can withdraw online, you don't need to visit any of their branches. If you are making a huge top up though, it is advised you go to your bank or any bank so you can get the teller to post to your Account Officer, and once they receive credit, your mutual fund account can be credited the same day - so your money can continue to work for you.

On the fund redemptions I have done so far, there has been no management fee, or any kind of fee, except the paltry N250 or so, in fact less than N500 being deducted not even by IBTC but UBA through which they route the fund to your account. I am talking about redemptions even as much as eight digits!

It has been a pleasant experience with them, and I admire them for their thoroughness and efficiency. And they are about the largest mutual fund in Nigeria as at today with over N90billion in their kitty.

So far so good.

4 Likes

Re: Mutual Funds by Roseey0(f): 2:54pm On Nov 13, 2017
How safe is investing in Standbic MMF now
Collected the forms over a month now
But my instinct wants to wait till January considering a lot of people may pull out funds for Xmas.

Kindly advise.
Re: Mutual Funds by NoQualms1(f): 2:56pm On Nov 13, 2017
kaze4blues:
Stanbic is very professional.

I made initial subscriptions and redeemed my fund without any hastle. I equally did additional subscription very easily. I did not even step into any stanbic branch for all these.

Customer support is amazing. Redemption is processed strictly under less than 5days.

I did everything on the stanbic mobile app.

I have tried several times to subscribe using my mobile app but it has never been successful. Can you explain how you do yours?
Re: Mutual Funds by kaze4blues(m): 3:07pm On Nov 13, 2017
NoQualms1:


I have tried several times to subscribe using my mobile app but it has never been successful. Can you explain how you do yours?

Logon to account on the mobile app.
Click the menu option
Click funds. This brings out three options.
Click on subscription.
Then you select the fund type e.g mmf
Then you proceed to the platform type.
Select interswitch local
Then enter your card details.
Enter amount and follow other instructions.
And otp will be sent to your registered phone number.
Enter the otp as required.
You will get a message "successful" while your account is immediately debited.

Your atm card must be already activated for online transactions before this will work.
My Firstbank mastercard did not work so I used the uba verve card.

Try the above and let's see if it works

1 Like

Re: Mutual Funds by kaze4blues(m): 3:10pm On Nov 13, 2017
Roseey0:
How safe is investing in Standbic MMF now
Collected the forms over a month now
But my instinct wants to wait till January considering a lot of people may pull out funds for Xmas.

Kindly advise.

It's not a ponzi. So even if a lot of people pull out funds during Christmas, it still stands strong. Money market is regulated by relevant authorities and its backed in full faith by the Nigerian economy. Its as stable and reliable as the treasury bills and bonds.

Other experts can help shed more light

1 Like

Re: Mutual Funds by Roseey0(f): 3:27pm On Nov 13, 2017
kaze4blues:


It's not a ponzi. So even if a lot of people pull out funds during Christmas, it still stands strong. Money market is regulated by relevant authorities and its backed in full faith by the Nigerian economy. Its as stable and reliable as the treasury bills and bonds.

Other experts can help shed more light
I get
But am looking at rates
If it will drop or go high
Am hoping people that have had their funds in it over the years and may have understudied the markett will comment.
Thank u for your input.
Re: Mutual Funds by Investnow2017: 3:39pm On Nov 13, 2017
Roseey0:
How safe is investing in Standbic MMF now
Collected the forms over a month now
But my instinct wants to wait till January considering a lot of people may pull out funds for Xmas.

Kindly advise.

Stanbic IBTC MMF has over N90bn NAV. How much do people want to pull out at xmas??

3 Likes

Re: Mutual Funds by Investnow2017: 3:40pm On Nov 13, 2017
kaze4blues:


It's not a ponzi. So even if a lot of people pull out funds during Christmas, it still stands strong. Money market is regulated by relevant authorities and its backed in full faith by the Nigerian economy. Its as stable and reliable as the treasury bills and bonds.

Other experts can help shed more light

You couldn't have said it any better.
Re: Mutual Funds by Investnow2017: 3:42pm On Nov 13, 2017
Roseey0:

I get
But am looking at rates
If it will drop or go high
Am hoping people that have had their funds in it over the years and may have understudied the markett will comment.
Thank u for your input.

Over a period of a quarter, the rates would always exceed that of the TBills because it deals in other monetary assets too.

1 Like

Re: Mutual Funds by temi4fash(m): 4:59pm On Nov 13, 2017
Can u put in my savings into these

What is the assurance am not going to lose my principal
Re: Mutual Funds by kaze4blues(m): 7:08pm On Nov 13, 2017
temi4fash:
Can u put in my savings into these

What is the assurance am not going to lose my principal


Lol...u can't lose anytin. You should read more on mutual funds on Google
Re: Mutual Funds by michael18(m): 8:39pm On Nov 13, 2017
I would like to make a withdrawal from my FBN mutual fund (not the whole sum,just part). please I need direction on how to go about it. Thanks
Re: Mutual Funds by Kemade2007(f): 1:09am On Nov 14, 2017
kaze4blues:


Logon to account on the mobile app.
Click the menu option
Click funds. This brings out three options.
Click on subscription.
Then you select the fund type e.g mmf
Then you proceed to the platform type.
Select interswitch local
Then enter your card details.
Enter amount and follow other instructions.
And otp will be sent to your registered phone number.
Enter the otp as required.
You will get a message "successful" while your account is immediately debited.

Your atm card must be already activated for online transactions before this will work.
My Firstbank mastercard did not work so I used the uba verve card.

Try the above and let's see if it works

Please how will I do that on the machine
Re: Mutual Funds by kaze4blues(m): 4:16am On Nov 14, 2017
Kemade2007:


Please how will I do that on the machine

Re: Mutual Funds by Yem0350: 7:26am On Nov 14, 2017
michael18:
I would like to make a withdrawal from my FBN mutual fund (not the whole sum,just part). please I need direction on how to go about it. Thanks

Fill the redemption form. Scan it and send it to them
Re: Mutual Funds by michael18(m): 7:52am On Nov 14, 2017
Yem0350:

Fill the redemption form. Scan it and send it to them
Thanks
Re: Mutual Funds by dotcomnamename: 11:29am On Nov 14, 2017
Lets keep the thread alive guys

1 Like 1 Share

Re: Mutual Funds by Kemade2007(f): 11:32am On Nov 14, 2017
[quote author=kaze4blues post=62355247][/quote


Thanks
Re: Mutual Funds by GrAnDwEeZ(m): 11:50am On Nov 14, 2017
I visited one Stanbic bank around lastweek for MMF registration, due to the limit placed on the online platform. since then I've not gotten any response from them. and my schedule doesn't permit me to visit the bank anyhow. pls is this normal? how long does the registration process takes?

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