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Top 10 Mutual Fund Managers In Nigeria / Mutual Funds In Nigeria: Please Share Your Experience / Best Nigerian Mutual Funds To Invest In? (2) (3) (4)
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Re: Mutual Funds by dotcomnamename: 11:21am On Apr 06, 2018 |
kaze4blues: Good morning, My Q1 2018 income was deducted from my Mutual Funds account and transferred to my nominated bank account as mandated by my kind self. However, my income subjected to withholding tax of 10% and interbank transfer charge of N52.50. You get it now? |
Re: Mutual Funds by fantasy7800: 1:17pm On Apr 06, 2018 |
Does anyone in the house invest in the fbn fixed income fund?
What has your experience been like?
Is the ROI higher than that for the MMF? |
Re: Mutual Funds by Edicoco(f): 3:53pm On Apr 06, 2018 |
You were right, I got credited yesterday. Thanks for the explanation Cation: |
Re: Mutual Funds by shegonchy(m): 4:08pm On Apr 06, 2018 |
dotcomnamename: There is a misunderstanding or should I say discrepancy here. Your income shouldn't be subjected to tax, it's shouldn't be taxable. Do confirm with your financial institution |
Re: Mutual Funds by yak(m): 10:04pm On Apr 06, 2018 |
shegonchy: I wanted to point out that mmf isn't subject to tax. something must be wrong with the institution |
Re: Mutual Funds by Cation(m): 9:52am On Apr 07, 2018 |
Edicoco:it is good to be selectively inquisitive #happy investing |
Re: Mutual Funds by pixiee(f): 5:30pm On Apr 07, 2018 |
. |
Re: Mutual Funds by nicerod(m): 10:43pm On Apr 08, 2018 |
Please can I use to accounts to do MMF as I used my stanbic account and I want to subscribe with another account instead of topping up with stanbic account |
Re: Mutual Funds by Ademat7(m): 12:41am On Apr 10, 2018 |
will you like to join axa mansard,their rate is good and they have excellent customer care support,if yes gv me your email and i will send you a referral link nicerod: |
Re: Mutual Funds by nicerod(m): 8:07am On Apr 10, 2018 |
Ademat7:Tell me about it first |
Re: Mutual Funds by olyrayy(m): 8:25am On Apr 10, 2018 |
Fiyinfoluwa20: Equity funds are volatile. Just like they give you an unlimited amount of profit, they also give you an unlimited amount of loss. It all depends on your risk apetite and patience. What goes down will come back up and vice versa. 1 Like |
Re: Mutual Funds by Ademat7(m): 9:07am On Apr 10, 2018 |
https://www.axamansardplc.com/investments/solutions/money-market-mutual-fund nicerod: 1 Like 1 Share |
Re: Mutual Funds by Dayhor: 11:43am On Apr 10, 2018 |
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Re: Mutual Funds by olyrayy(m): 8:26am On Apr 11, 2018 |
coolangel54: Why the vexing face 1 Like |
Re: Mutual Funds by reservd(m): 3:08pm On Apr 11, 2018 |
[quote author=fantasy7800 post=66480629]Does anyone in the house invest in the fbn fixed income fund? What has your experience been like? Is the ROI higher than that for the MMF?[/quote I guess 2017 wasn't a good year for fbn fixed income. Though I hv lost touch of d income rate bt wat I observed in my acct profitwise is jst a 3k diff btw my fixed n MMF despite having abt 100k more in capital than my MMF. This informed my decision to invest only in MMF this year |
Re: Mutual Funds by francdec4(m): 4:50pm On Apr 11, 2018 |
Wow finally I get to finish reading this very insightful thread. Started from the very first page to the last page 74 (as of today), trust me its absolutely worth the effort. I want to sincerely thank everyone who has taken his or her time to either educate us the newbies or who has asked questions in one form or the other. To say am amazed at the magnitude of your generosity in squeezing time away from your tight schedule to help others is an understatement. I am hoping to have a beautiful experience in this my new venture/or adventure in the savings/investment world. Phew! a world of new and vast knowledge outside my regular medical practice. Once more thanks all; the op that originated the topic, all contributors some I have even sent pm and are now my friends in WhatsApp and also to Seun for this website. I have started with Stanbic MMF and hope to check out the possibility of starting with the other fund managers too especially ARM and Fbnquest. God bless us all. 5 Likes 1 Share |
Re: Mutual Funds by amaham(m): 7:50pm On Apr 11, 2018 |
[quote author=francdec4 post=66623727]Wow finally I get to finish reading this very insightful thread. Started from the very first page to the last page 74 (as of today), trust me its absolutely worth the effort. I want to sincerely thank everyone who has taken his or her time to either educate us the newbies or who has asked questions in one form or the other. To say am amazed at the magnitude of your generosity in squeezing time away from your tight schedule to help others is an understatement. I am hoping to have a beautiful experience in this my new venture/or adventure in the savings/investment world. Phew! a world of new and vast knowledge outside my regular medical practice. Once more thanks all; the op that originated the topic, all contributors some I have even sent pm and are now my friends in WhatsApp and also to Seun for this website. I have started with Stanbic MMF and hope to check out the possibility of starting with the other fund managers too especially ARM and Fbnquest. God bless us Hello medic, the earlier you venture out of the four walls of hospital, the better. 1 Like |
Re: Mutual Funds by ernie4life(m): 8:58pm On Apr 11, 2018 |
Thanks to all for your questions and contributions. Like I said earlier this thread is about mutual funds not just money market funds(mmf). Up next will be dollar funds, am working on it currently. Stay tuned 1 Like |
Re: Mutual Funds by dotcomnamename: 10:20pm On Apr 11, 2018 |
shegonchy: No, that is somehow not correct. If your mandate is for your interest to be reinvested in the fund, it does not attract withholding tax but if the income is paid to your bank, it attracts withholding tax as evident in the table below. 1 Like
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Re: Mutual Funds by austine4real(m): 10:32pm On Apr 11, 2018 |
pls stanbic interests is it daily weekly or monthly? |
Re: Mutual Funds by ImperialCovfefe: 10:47pm On Apr 11, 2018 |
austine4real: Daily |
Re: Mutual Funds by ImperialCovfefe: 10:53pm On Apr 11, 2018 |
dotcomnamename: There is no withholding tax for bonds (10-year tax waiver) and short term government securities. I was also credited my accrued interest by ARM, and there was no withholding tax deducted. Only a commission (for bank transfer) + VAT-on-commission fee of N52.50 was charged. |
Re: Mutual Funds by olyrayy(m): 7:54am On Apr 12, 2018 |
This thread is for Mutual Funds but it seems that majority of the focus is on MMFs. I quite understand this, as most people are scared of losing their hard-earned funds. I, on the other hand, am quite young and practically have nothing to lose So, I'm kind of interested in equity mutual funds. Can any of the ogas here help out in this regard? For instance, are closed funds the same as ETFs? Also, when the stock market dips, does this affect the Net Asset Value of equity funds? Thanks a lot. |
Re: Mutual Funds by dotcomnamename: 1:02pm On Apr 12, 2018 |
ImperialCovfefe: Well, that is according to StanbicIBTC and about 3 different branches said the same after thorough investigation... |
Re: Mutual Funds by ImperialCovfefe: 1:17pm On Apr 12, 2018 |
dotcomnamename: Are you positive ARM deducted withholding tax from your accrued interest? If yes, you need to query them immediately. |
Re: Mutual Funds by dotcomnamename: 3:08pm On Apr 12, 2018 |
olyrayy: MMF is MF. They're all called Mutual Funds. |
Re: Mutual Funds by dotcomnamename: 3:09pm On Apr 12, 2018 |
ImperialCovfefe: I mean Stanbic IBTC Asset Management |
Re: Mutual Funds by enemarieal: 3:36pm On Apr 12, 2018 |
Hi Olyrayy, no one wants to loose his/her hard earned money young or old. Equity funds are great if you get in at the right time, when price per unit is low or hold on long enough to see change in downward trend. Direction of trend is based on stock market forces (Fundamentals, technical, political and also speculation) . You can cash in returns from fund unit price appreciation as well as dividend payout which most asset managers distribute annually. Equity funds are Risky, those who have equity funds can tell you how since mid feb 2018 that market has maintained continuous downward trend. To your question about closed end funds vs ETFs, they are different. Closed ended fund are funds with fixed quantity issued through and initial rights offer and afterwards traded on an exchange where subsequent buying and selling take place close ended funds appears not to be too popular amongst Nigerian fund managers. it can made up of any stock from any sector in that exchange. ETF (Exchange Traded fund) are index tracking securities which may be made up of sectors based stocks (Pension, Goods, Oil and Gas, etc). (An index is a weighted computations of movement of set of/ all stocks in an exchange) For example in the NSE we have NSE40 index which tracks listed pension companies, so if you invest in NSE 40 ETF your fund will in actual sense purchase various units of shares in companies that are listed in that index (in this example Pension), the Nav of your fund will fall/dip as the index trends. when the stock market dips, does this affect the Net Asset Value of equity funds? By stock market dips, i want to assume you are referring to dip in the all share index (ASI), the answer is it depends on what stocks your asset manager has in that funds portfolio the NSE ASI is a weighted computation of all stock quoted in the NSE, it a general view of the performance of all quoted companies, however like you would have seen some companies gains and some loose while the ASI is in a downward trend. So if it so happens that some/all stock in your fund portfolio appreciates substantially when the ASI is in a nose dive, then you Nav will move in the opposite direction. Ps i am not one of the ogas - hope this explains it a little. olyrayy: 5 Likes |
Re: Mutual Funds by olyrayy(m): 7:52am On Apr 13, 2018 |
enemarieal:Wow. Thanks a lot sir. IF I get what you're saying, if the stocks in my fund manager's portfolio take a dive, that means that net asset value would also reduce. I'm asking this because I plan on going long term, and I want to buy more with the same amount when there is a bear. In essence... buy low and sell high or keep. I actually have investments in the NSE, but I feel there is kind of a steep learning curve to really become good at it. I figure it would be best if I just outsource it to a pro. I also want to compare the returns of my personal stock picking and that of my mutual funds, to see who is better at it. 1 Like |
Re: Mutual Funds by olyrayy(m): 7:55am On Apr 13, 2018 |
dotcomnamename: Yeah. I know, it's just that this thread is more focused on MMFs compared to the others. 1 Like |
Re: Mutual Funds by Kemade2007(f): 11:05am On Apr 13, 2018 |
Re: Mutual Funds by enemarieal: 11:20am On Apr 13, 2018 |
olyrayy: Yes nav will go in the collective direction of stocks in your portfolio, however am not sure if your fund manager will divulge which stocks are actually in your portfolio. Yes. Fund managers are supposed to be more experienced than me a hobby investor, so they should have at their disposal tools and news to help them in deciding which stocks to pick. With equity mutual funds, the fund manager takes the headache of picking stocks when to stop loss/ lock gains etc off you and hopefully they will do that and make you rich . That been said equity trend is determined by many factors, so your fund manager may not be right all the time however we trust that with their experience they would make more informed decisions, save us the time to learn and frivolous losses. |
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