r4blessing:
personally I would suggest you go with stanbic ibtc mutual fund or my second choice axamasard

I

Thanks

I would just use the stanbic then..
There seem to be very good feedback about them

will007:



Between investment one and fbn quest, which is better

Fbnquest

will007:



Between investment one and fbn quest, which is better

I use investment one. the differences must times with investment houses are services and investor's taste or interest rate. otherwise all MMF operates with same principle basically.

Regarding mmf redemption. Since most Assets Managers don't complete redemption request within 24hours sometimes it could take more than a week, do they add interest for all the numbers of days it took to process redemption request?

How do I register with FBNQuest? I'd filled their online form since last week and no one has contacted me. Anyone with a "real contact" who I can email or call would be appreciated.

I redeemed my mmf with axamansard. It took about 8 hours to receive fund. Currently waiting for ARM, it's almost 24 hours now since I submitted the request. We need this type of information to decide who to invest with and who to avoid.

Good day house, thanks for all the information , some of us have really learnt alot.
I just opened a mmf account with stanbic, got an alert that the mmf account has being credited but am still awaiting my log in detail ...just want to know how long it will take and if my investment has started counting

Kokobay:
How do I register with FBNQuest? I'd filled their online form since last week and no one has contacted me. Anyone with a "real contact" who I can email or call would be appreciated.

Send a mail to customercare@fbnquest.com

234ng44uk:
I redeemed my mmf with axamansard. It took about 8 hours to receive fund. Currently waiting for ARM, it's almost 24 hours now since I submitted the request. We need this type of information to decide who to invest with and who to avoid.

l redeemed with Stanbic by 11:58 am today and money enters by 4:55pm.
And it has always bn like dat

Kokobay:
How do I register with FBNQuest? I'd filled their online form since last week and no one has contacted me. Anyone with a "real contact" who I can email or call would be appreciated.

Zero 8 zero two 3 two zero zero zero 33

ndidigood:
l redeemed with Stanbic by 11:58 am today and money enters by 4:55pm.
And it has always bn like dat

Still waiting for ARM, it's going to 48 hours now.

234ng44uk:

Still waiting for ARM, it's going to 48 hours now.

Lets be objective, what is their maximum redemption time line?

I ask because most investment house state it very clear that redemption take 24 hours, 3 working day, 5 working days etc, whatever is the case they always state it so that customers know, it will be wrong if the gave you a maximum of 5 working days and you come here and start counting time when its not yet up to the agreed time.

ernie4life:


Lets be objective, what is their maximum redemption time line?

I ask because most investment house state it very clear that redemption take 24 hours, 3 working day, 5 working days etc, whatever is the case they always state it so that customers know, it will be wrong if the gave you a maximum of 5 working days and you come here and start counting time when its not yet up to the agreed time.

Since you know it all, why don't you tell us what they state as their maximum redemption period and then compare that to how long it has taken yet redemption isn't complete

234ng44uk:


Since you know it all, why don't you tell us what they state as their maximum redemption period and then compare that to how long it has taken yet redemption isn't complete

I didnt say i know it all,
i just chatted with their help desk, the said 24 hours for online and 48 hours for manual.

Login to the app
Complete your registration by filling Next of Kin, Employment etc
Then Upload KYC Documents.

You MUST Make first Investment using the App - Through Pay Stack. Extra gateway fee is added to the total. It will take some time like 24-48 hours before the deposit reflect.

Once it reflect Account number will be assigned to you and your investment will start running.

By this time, you can then use the account number to make transfer (bank deposit or mobile app) if you want to top up your account.

Disclaimer: No affiliation. Only Personal Experience.

Kokobay:
How do I register with FBNQuest? I'd filled their online form since last week and no one has contacted me. Anyone with a "real contact" who I can email or call would be appreciated.

ernie4life:


I didnt say i know it all,
i just chatted with their help desk, the said 24 hours for online and 48 hours for manual.

Well, this one is online and it took 46 hours. I've received the fund so I'm happy. 46hours instead of stated 24hours isn't that bad in the Nigerian context.
I'll do this for every Asset Manager I have my fund with so others could be informed.

234ng44uk:


Well, this one is online and it took 46 hours. I've received the fund so I'm happy. 46hours instead of stated 24hours isn't that bad in the Nigerian context.
I'll do this for every Asset Manager I have my fund with so others could be informed.

yeah its bad for Nigeria, goes a long way to show how poor our service delivery is and how unprepared we are to compete in the global market.

Still on poor service delivery do you know that most people who bought sukuk bonds are yet to be notified of the status of their subscription ?

I topped up on Stanbic, will it be compounded or do I need to make a special request?
Please, any formula or example to calculate or show the daily interest returned will be appreciated thanks guys

RolD:
I topped up on Stanbic, will it be compounded or do I need to make a special request?
Please, any formula or example to calculate or show the daily interest returned will be appreciated thanks guys

No special calculation. Each day is simple interest: P*R*T/100 then divide by 365 gives the interest for that day. However the principal changes to a new value when you add more funds or after each quarter where your accumulated interest for the 3 months is added to your principal if you choose the re-invest option.

emmasoft:

No special calculation. Each day is simple interest: P*R*T/100 then divide by 365 gives the interest for that day. However the principal changes to a new value when you add more funds or after each quarter where your accumulated interest for the 3 months is added to your principal if you choose the re-invest option.

Thank u very much Emmasoft. I appreciate ur effort. I have now Understood the concept 90%..
from ur explanation, It means the Interest is accumulated and only added to the initial Principal after 3 months right?
Does it mean previous day's interest isn't added to Principal on a daily basis to compute for the next day's interest?
However, what is the value of T=time if it's being divided by 365days?

Are their charges included in the interest quoted or has all charges been deducted before quoting the interest?

I know my qtns are numerous, but if anyone is knowledgeable, please answer the best you can if you can.. Thank you very much

RolD:

Thank u very much Emmasoft. I appreciate ur effort. I have now Understood the concept 90%..
from ur explanation, It means the Interest is accumulated and only added to the initial Principal after 3 months right?
Does it mean previous day's interest isn't added to Principal on a daily basis to compute for the next day's interest?
However, what is the value of T=time if it's being divided by 365days?

Are their charges included in the interest quoted or has all charges been deducted before quoting the interest?

I know my qtns are numerous, but if anyone is knowledgeable, please answer the best you can if you can.. Thank you very much

interest added at end of 3 months
you only earn interest each day it's not added to principal. However if you decide to pull out before the end of a quarter your interest and principal will be paid to you. otherwise it can only be part of principal and yield interest after each quarter.
T = 1year
if 365days = 1year
1 day = 1year/365
charges varies from house to house. There is definitely charges.
From experience you are most likely going to get a little less than what is quoted for some firms.
NB: For stanbic. they have a different system from other houses. They don't wait till end of quarter before re-investing. You can contact their customer care for clarification on that. The above explanation is for Investment one I represent. I think it's same for others apart from stanbic.

emmasoft:

interest added at end of 3 months
you only earn interest each day it's not added to principal. However if you decide to pull out before the end of a quarter your interest and principal will be paid to you. otherwise it can only be part of principal and yield interest after each quarter.
T = 1year
if 365days = 1year
1 day = 1year/365
charges varies from house to house. There is definitely charges.
From experience you are most likely going to get a little less than what is quoted for some firms.
NB: For stanbic. they have a different system from other houses. They don't wait till end of quarter before re-investing. You can contact their customer care for clarification on that. The above explanation is for Investment one I represent. I think it's same for others apart from stanbic.

Thanks once again for much needed clarity..
Happy Easter man..

Can someone recommend me an investment house that is secure and have a better rate? Am presently with ARM, but i dont want to put all my eggs in one kitty. I need another mutual fund that could give me a better return/security. Min investment is 1m. Pls recommend. Contacting me is allowed, no scammers please. 08033093741

mjay2018:
Can someone recommend me an investment house that is secure and have a better rate? Am presently with ARM, but i dont want to put all my eggs in one kitty. I need another mutual fund that could give me a better return/security. Min investment is 1m. Pls recommend. Contacting me is allowed, no scammers please. 08033093741

Goto FMAN website, Reviews other COY and choose what's is best for you.

It seems that union trustees mixed fund have disappeard into thin air.
Though it has changed different mangers with the last manager being cdl asset.
As for sterling registrar, they have removed it from their website.
What can i do to get my money back
Ernie4life ur attention is needed here

mjay2018:
Can someone recommend me an investment house that is secure and have a better rate? Am presently with ARM, but i dont want to put all my eggs in one kitty. I need another mutual fund that could give me a better return/security. Min investment is 1m. Pls recommend. Contacting me is allowed, no scammers please. 08033093741

FBNQuest or Axa mansard

Redoil:
It seems that union trustees mixed fund have disappeard into thin air.
Though it has changed different mangers with the last manager being cdl asset.
As for sterling registrar, they have removed it from their website.
What can i do to get my money back

Hmmmm that is why I choose stanbic asset management

happy weekend y’all.it is possible to withdraw all my money from stanbicmutualfunds and close down my account? I have an emergency situation and I want to sweep all funds in the account..is there a penalty to that?
please urgent response will be very much appreciated..

lymelyte:
happy weekend y’all.it is possible to withdraw all my money from stanbicmutualfunds and close down my account? I have an emergency situation and I want to sweep all funds in the account..is there a penalty to that?
please urgent response will be very much appreciated..

It is possible to withdraw all your funds.
There is penalty If you are withdrawing within your first 30 days of subscription

Thanks sir.. What if I don't want to close the account but withdraw all?

Yem0350:

It is possible to withdraw all your funds.
There is penalty If you are withdrawing within your first 30 days of subscription