Good day all, i have so far read some pages on the thread, but with little i read so far, i am saying a big thank you to all for your positive contribution.

Please i am thinking of entering into mmf with the sum of 500,000k for my toddler, please i really need your advice to weather it is good to go, which of the house should i use, and is there any other investment you can advice me to do with said amount instead of mmf, and should i do the mmf what will i get at end of the year, as i planned of keeping it for longtime and the dividend be reinvesting every year.

Please your humble brother needs your advice.

yak:

documents? like ID u mean

yes, and passport, utility bill, signature

Emmy2018:
Good day all, i have so far read some pages on the thread, but with little i read so far, i am saying a big thank you to all for your positive contribution.

Please i am thinking of entering into mmf with the sum of 500,000k for my toddler, please i really need your advice to weather it is good to go, which of the house should i use, and is there any other investment you can advice me to do with said amount instead of mmf, and should i do the mmf what will i get at end of the year, as i planned of keeping it for longtime and the dividend be reinvesting every year.

Please your humble brother needs your advice.

you are on the right track.

do MMF with stanbic ibtc/ARM/investment One/first bank.. Whichever is more convenient for you.

MMF reinvests interests DAILY.

and you dont have to do anything for it to be invested nonstop forever.

about 50k+/yr as interest

NOTE: if you plan to ever take out money, dont use the child's name O..ask the officials

Emmy2018:
Good day all, i have so far read some pages on the thread, but with little i read so far, i am saying a big thank you to all for your positive contribution.

Please i am thinking of entering into mmf with the sum of 500,000k for my toddler, please i really need your advice to weather it is good to go, which of the house should i use, and is there any other investment you can advice me to do with said amount instead of mmf, and should i do the mmf what will i get at end of the year, as i planned of keeping it for longtime and the dividend be reinvesting every year.

Please your humble brother needs your advice.

I will advice u start with Treasury bill since u r planning to keep it for long time and invest your upfront interest on MMF

Kemade2007:


I will advice u start with Treasury bill since u r planning to keep it for long time and invest your upfront interest on MMF

Hi. How do you know the interest on MMF at any point in time? Thanks

haibe:


Hi. How do you know the interest on MMF at any point in time? Thanks

Stanbic MMF rate as at Friday 14.9% from their website

Kemade2007:


Stanbic MMF rate as at Friday 14.9% from their website

Where exactly do u see the rates? I only see a price history which i dont understand

How do you go about setting up MMF with Mansard?

rationalmind:


Then Mansard it is.... Thanks

haibe:


Where exactly do u see the rates? I only see a price history which i dont understand

Log in and view your transaction, then you will see the daily rate or visit here
https://www.stanbicibtcfundsmanagement.com/mfprices

haibe:


Thanks.

Can u explain this prices? How does it tell the current rate?

Very good question, anyone with the knowledge should explain. Also can more light be shed on equity mutual fund?

@ Reality, for now i do not have any plan of taking out money, i really want to invest for the child until she get to certain age were he could manage it himself.

Thanks.

I really appreciate.

Thanks Kamade, i equally has plan of investing in treasury bill around April which i would equally seek for you people's advice when the fund for that will be available.

Emmy2018:
Thanks Kamade, i equally has plan of investing in treasury bill around April which i would equally seek for you people's advice when the fund for that will be available.

I don't think treasury right now would be good, in my opinion MMF would give you better return.


Since you are investing for your child, am guessing say you will leave the funds for at least 5 years or more, having that in mind I would recommend you split the funds into 2, buy any of the following shares, nestle, GTB, diamond bank or zenith with one part of the funds then invest the other part into MMF.
In my experience equity market always out performs money market.
For example around 2015 zenith was at 13-16 naira a unit(I bought) right now it's at 30-32 naira a unit. Calculate the return on investment, money market can never give you that.

megacontrol:
How do you go about setting up MMF with Mansard?

Send a mail to Folashade.Odunlami@axamansard.com and cc: ccare@axamansard.com....

You can also visit https://www.axamansard.com/myaxa/products-list.aspx?tag=investment

Thanks, but both email accounts cant receive message becasue the mailbox if full. i got the bellow message, will speak to them tommorow.

"The recipient's mailbox is full and can't accept messages now. Please try resending your message later, or contact the recipient directly.
The following organization rejected your message: AXA-EX1.axamansard.com."

rationalmind:


Send a mail to Folashade.Odunlami@axamansard.com and cc: ccare@axamansard.com....

You can also visit https://www.axamansard.com/myaxa/products-list.aspx?tag=investment

@ ernie, Many thanks for your advice, i will just do as you said. Looking out to buy some zenith bank today.

megacontrol:
Thanks, but both email accounts cant receive message becasue the mailbox if full. i got the bellow message, will speak to them tommorow.

"The recipient's mailbox is full and can't accept messages now. Please try resending your message later, or contact the recipient directly.
The following organization rejected your message: AXA-EX1.axamansard.com."

You can also try Ikoedem.Ekong@axamansard.com

Thanks.
They've actually responded to my email this morning, i think after they cleared the inbox. Looks pretty simple and straightforward process so far.

rationalmind:


You can also try Ikoedem.Ekong@axamansard.com

So I decided to check Fund managers association of Nigeria website. fman.com.ng to actually check what rates are.
Todays rate was yet to be posted but as of yesterday

Stanbic IBTC Money Market Fund 14.88%
ARM Money Market Fund 15.96%
Abacus Money Market Fund(investment one) 15.07%
FBN Money Market Fund N/A


From the above you will see that the rates are almost the same because the are invested into same assets,
so look beyond rates when choosing a fund manager, always consider the quality of service.

Please guys for those using stanbic ibtc bank, is the interest on the investment paid daily. Am asking because I didn't get any on Sunday and also yet to receive any today

Good evening people, please I have been noticing deductions on my Stanbic IBTC Guaranteed Investment Fund for sometime now. And I can't fathom why this is happening, is there any reason for this?

r4blessing:
Please guys for those using stanbic ibtc bank, is the interest on the investment paid daily. Am asking because I didn't get any on Sunday and also yet to receive any today

Yeah. Your funds grow daily. They didn't update it during weekend but on Monday, mine shows that weekend was accounted for.

I got a new reset password from stanbic today. I didn't request for any though. Am still wondering what cld have happened.

probably, I will check if I can set up ARM. I have my rent n won't want to spend it since it'll be due in June, let me drop it with mutual fund

ernie4life:



Like I said earlier you cant negotiate rates on MMF, its what the funds preforms that's what the funds manager offer.

That being said I know of investments that offer 18% net on a minimum of 10m, its not mmf but its offered by a reputable Asset management firm, I wont disclose the name so as not to derail the thread

Hello,

What is the name of the investment and the name of the asset management firm, please?

sabanageorge:

So, I finally opened this and got my letter of welcome from them. I must say, it was super convenient. I did everything online without calling them and without visiting their branch.

The first thing I did was to obtain the application form for individual applicants here https://www.fbnquest.com/asset-management/investor-resource-center/download-forms

Filled the form and sent with bank statement (as proof of address), passport picture, international passport to their email address. Got a mail confirming they were working on it and some days later got a welcome email.

Planning now to start with some dollars and top up later. Let's see how this goes. Even though my trust in the Nigerian system is failing, I'll do some dollars with a Nigerian mutual funds for now. I'll have to consider moving more investments into stuffs like Bitcoin I'm the future.

Hi George,

How is the dollar fund going? Can you please update us regarding your experience so far? What is the yield?

Thanks.

r4blessing:
Please guys for those using stanbic ibtc bank, is the interest on the investment paid daily. Am asking because I didn't get any on Sunday and also yet to receive any today

Yes sir, Investment is paid daily... Weekend credit is done on monday.. You will be credited on monday morning before 12noon.. Ty dont usualy credit account on weekends but it accumulates and then they credit you first thing on Monday.

ImperialCovfefe:


Hello,

What is the name of the investment and the name of the asset management firm, please?

send me a PM

Can anyone here share their experience operating MMF with AXA Mansard? Thanks

ernie4life:


send me a PM

Sent

ImperialCovfefe:


Sent

I have responded

ernie4life:


I have responded

Nothing on my end.

ernie4life:

I have responded

PM u too