dotcomnamename:


I mean Stanbic IBTC Asset Management

Is it from your MMF that the 10% withholding tax was deducted?

eezeribe:

Is it from your MMF that the 10% withholding tax was deducted?

From my MMF's income.

dotcomnamename:



From my MMF's income.

I thought that income accrued from MMF and other mutual funds isn't subject to withholding tax...

eezeribe:

I thought that income accrued from MMF and other mutual funds isn't subject to withholding tax...

I used to think so too, but apparently Stanbic applies WHT on the MMF incomes before they credit it to you at the end of the quarter. The only way around this is to choose to reinvest the interest. Since I learnt this from them last year, I have opted to have my interest reinvested, then if I need cash I can simply redeem a portion of the investment without any tax burden whatsoever.

Top Mutual Funds in Nigeria this year so far

3rd Best Performing Fund
====================================
Name of Fund – Stanbic IBTC Aggressive Fund
Who are the Fund Managers – Stanbic IBTC Asset Management
Type of Fund – Equity-Based Fund
NAV Increase – 12.6%

2nd Best Performing Fund
====================================
Name of Fund – EDC Fixed Income Fund
Who are the Fund Managers – EDC Fund Management Ltd
Type of Fund – Fixed Income Based Fund
NAV Increase – 12.8%

Best Performing Fund
====================================
Name of Fund – Meristem Equity Market Fund
Who are the Fund Managers – Meristem Wealth Management Ltd
Type of Fund – Equity-Based Fund
NAV Increase – 17.4%



https://nairametrics.com/top-5-mutual-funds-in-nigeria-as-at-march-29-2018/

awesomeJ:

I used to think so too, but apparently Stanbic applies WHT on the MMF incomes before they credit it to you at the end of the quarter. The only way around this is to choose to reinvest the interest. Since I learnt this from them last year, I have opted to have my interest reinvested, then if I need cash I can simply redeem a portion of the investment without any tax burden whatsoever.

OK,but if you finally decide to close your MMF account after a period of time(example 3 years) and ask for final withdrawal(including original principal and all income accrued), will the WHT still be deducted?

eezeribe:

OK,but if you finally decide to close your MMF account after a period of time(example 3 years) and ask for final withdrawal(including original principal and all income accrued), will the WHT still be deducted?

Not sure, but I don't think so.

awesomeJ:
Not sure, but I don't think so.

OK thanks.I will send a mail of enquiry to them.

eezeribe:

OK,but if you finally decide to close your MMF account after a period of time(example 3 years) and ask for final withdrawal(including original principal and all income accrued), will the WHT still be deducted?

No WHT will be deducted in this case. I've done this a couple of times

kaze4blues:

No WHT will be deducted in this case. I've done this a couple of times

OK thank you very much.

awesomeJ:

I used to think so too, but apparently Stanbic applies WHT on the MMF incomes before they credit it to you at the end of the quarter. The only way around this is to choose to reinvest the interest. Since I learnt this from them last year, I have opted to have my interest reinvested, then if I need cash I can simply redeem a portion of the investment without any tax burden whatsoever.

Can't agree more. You have said it all. Very spot on!

anori:


I subscribed to GIF at the same time as MMF. Its great, there's hardly any fall in price, its increase is steady. The interest is about the same as MMF and you get a yearly dividend which isn't spectacular. Its more of a long term investment and its not exciting watching it daily. I would say its the safest of all the funds.

Thank you for your answer
Can you please tell me when they pay dividends and about how many percent of your funds is it?
Thank you

enemarieal:


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.

Thanks for this bro. What about dividends? Do equity mutual funds pay dividends? If they do, what determines when they pay dividends. How does compensation for the fund manager work?

House. Where can I get information on the yearly performance of a mutual fund?

olyrayy:
House. Where can I get information on the yearly performance of a mutual fund?

Fman.com.ng

olyrayy:
House. Where can I get information on the yearly performance of a mutual fund?

Some fund managers have reports on their funds performance in the previous years on their site or

fman.com.ng has an archive of daily fund nav, you may have to take the pains of putting it all together to get out yearly performance.

or a quick google search will lead you to some report on comparative performance of Nigerian mutual funds.

olyrayy:


Thanks for this bro. What about dividends? Do equity mutual funds pay dividends? If they do, what determines when they pay dividends. How does compensation for the fund manager work?

Yes equity funds pay dividends, i imagine it will be dependent on if the underlying stocks pays dividends for that year.

Most fund managers that i know distribute dividends annually.

Not sure what you mean by your last question.

ernie4life:



Fman.com.ng

Thanks sir. Are you the one that runs mutual funds nigeria dot com? I don't know why nairaland isn't letting me post the URL

enemarieal:


Some fund managers have reports on their funds performance in the previous years on their site or

fman.com.ng has an archive of daily fund nav, you may have to take the pains of putting it all together to get out yearly performance.

or a quick google search will lead you to some report on comparative performance of Nigerian mutual funds.

Okay bro. Thanks a lot.

enemarieal:


Yes equity funds pay dividends, i imagine it will be dependent on if the underlying stocks pays dividends for that year.

Most fund managers that i know distribute dividends annually.

Not sure what you mean by your last question.

What I mean is that how many percent do I pay to the fund manager as fees?

olyrayy:


Thanks sir. Are you the one that runs mutual funds nigeria dot com? I don't know why nairaland isn't letting me post the URL

am not

List of dollar based funds in Nigeria.

FBN Nigeria Eurobond (USD) Fund - Institutional
FBN Nigeria Eurobond (USD) Fund - Retail
Stanbic IBTC Dollar Fund (USD)
Investment One is going to do an IPO of there dollar fund called Vantage Dollar fund(VDF) by next week Monday 23 April.

MMF rates as posted on fman.com.ng as at 16th April

AXA Mansard Money Market Fund 14.33%
FBN Money Market Fund 14.21%
Abacus Money Market Fund 14.35%
Stanbic IBTC Money Market Fund 14.19%
ARM Money Market Fund N/A


Note: For some days now ARM has not posted any rate Fman.com.ng
If you check the rates you will find out they are almost the same with very little difference.

Support and Resistance

Support and Resistance are technical words used in technical analysis in stock, forex, commodities etc.

Support and Resistance is a concept that the movement of the price of a stock will tend to stop and reverse at certain predetermined price levels. These levels are denoted by multiple touches of price without a breakthrough of the level.

Support levels are where demand is perceived to be strong enough to prevent the price from falling further, while resistance levels are prices where selling is perceived to be strong to prevent prices from rising higher.

Support and Resistance levels are psychological important levels where a lot of buyers and sellers are willing to trade the stock.

When trend lines are broken, the market psychology shifts and new levels of support and resistance are established.

Investdata Academy.
https://investdataltd..com.ng/2018/04/support-and-resistance.html[font=Lucida Sans Unicode][/font]

GTC ORDER


Do you know what a GTC order is?

GTC simply means Good Till Cancelled. A good till cancel order is an order placed by an investor/ trader to buy or sell a stock at a specified price,of which the price remains active until it is either canceled by the investor/ trader or the trade is executed.
It offers an alternative to placing a sequence of day orders which expires at the end of each trading day.

GTC orders are commonly set to expire within a week to a month after trade are entered on the floor of Nigeria Stock Exchange.

Simply put, GTC orders provide investors/traders the convenience of placing orders at specified price points,which can also be referred to as limit orders,that remains in force until they reach an expiration date, either they are executed or are canceled. These orders can be entered to buy or sell stock, or as stop orders.

Investdata Academy
https://investdataltd..com.ng/2018/04/gtc-order.html

Please how long does it take for online top up for stanbic simif to reflect

collinkz:
Please how long does it take for online top up for stanbic simif to reflect

2

collinkz:
Please how long does it take for online top up for stanbic simif to reflect

24 hours[color=#006600][/color]

awesomeJ:

I used to think so too, but apparently Stanbic applies WHT on the MMF incomes before they credit it to you at the end of the quarter. The only way around this is to choose to reinvest the interest. Since I learnt this from them last year, I have opted to have my interest reinvested, then if I need cash I can simply redeem a portion of the investment without any tax burden whatsoever.

Can you please explain:

On the stanbic MMF online app, there AVAILABLE BALANCE in bold and right under it is the tiny INTEREST

Do I have access to the whole Available balance? As in, can I withdraw all?
The interest does not tally with the difference between original investment and available balance.

sammydirectly:


Can you please explain:

On the stanbic MMF online app, there AVAILABLE BALANCE in bold and right under it is the tiny INTEREST

Do I have access to the whole Available balance? As in, can I withdraw all?
The interest does not tally with the difference between original investment and available balance.

Available balance = total subscription + realised interest + unrealised interest.

Realised interest is a small fraction of your accrued interest and is usually added weekly.

Your total interest = realised interest + ‘interest’,
Where realised interest = available balance - total subscription - unrealised interest.

ImperialCovfefe:


Available balance = total subscription + realised interest.

Realised interest is a small fraction of your accrued interest and is usually added weekly.

Your total interest = realised interest + ‘interest’,
Where realised interest = available balance - total subscription.

this comment is suggesting that that the difference between the original investment and available balance is lesser than the 'interest' under but this is not the case

haibe:
this comment is suggesting that that the difference between the original investment and available balance is lesser than the 'interest' under but this is not the case

You are correct. Post modified.

ImperialCovfefe:


Available balance = total subscription + realised interest + unrealised interest.

Realised interest is a small fraction of your accrued interest and is usually added weekly.

Your total interest = realised interest + ‘interest’,
Where realised interest = available balance - total subscription - unrealised interest.

Wow... This is beautifully explained. Many thanks ks.

Can I decide to redeem the whole of the AVAILABLE BALANCE?

ernie4life:


am not

Oh. I was thinking you or some other oga should have a website around this... and then, after growing an audience, create an informational product on mutual funds. A lot of people (me inclusive) would prefer to buy a product with all the necessary information instead of reading this thread from page 0 to 70...