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Nairaland Forum / Nairaland / General / Investment / Mutual Funds (1008620 Views)
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 temi4fash(m): 10:17am On Apr 16, 2019 |
r4blessing:I Thanks I would just use the stanbic then.. There seem to be very good feedback about them |
Re: Mutual Funds by Yem0350: 10:44am On Apr 16, 2019 |
will007:Fbnquest 1 Like |
Re: Mutual Funds by emmasoft(m): 11:06am On Apr 16, 2019 |
will007: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. 1 Like |
Re: Mutual Funds by 234ng44uk(m): 4:06pm On Apr 16, 2019 |
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? |
Re: Mutual Funds by Kokobay: 11:15am On Apr 17, 2019 |
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. |
Re: Mutual Funds by 234ng44uk(m): 11:45am On Apr 17, 2019 |
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. 1 Like |
Re: Mutual Funds by pearldip: 4:39pm On Apr 17, 2019 |
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 |
Re: Mutual Funds by reservd(m): 6:38pm On Apr 17, 2019 |
Kokobay:Send a mail to customercare@fbnquest.com |
Re: Mutual Funds by ndidigood(f): 7:15pm On Apr 17, 2019 |
234ng44uk:l redeemed with Stanbic by 11:58 am today and money enters by 4:55pm. And it has always bn like dat |
Re: Mutual Funds by Yem0350: 7:19pm On Apr 17, 2019 |
Kokobay: Zero 8 zero two 3 two zero zero zero 33 2 Likes |
Re: Mutual Funds by 234ng44uk(m): 9:37am On Apr 18, 2019 |
ndidigood:Still waiting for ARM, it's going to 48 hours now. |
Re: Mutual Funds by ernie4life(m): 10:28am On Apr 18, 2019 |
234ng44uk: 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. 2 Likes |
Re: Mutual Funds by 234ng44uk(m): 10:30am On Apr 18, 2019 |
ernie4life: 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 |
Re: Mutual Funds by ernie4life(m): 10:44am On Apr 18, 2019 |
234ng44uk: 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. |
Re: Mutual Funds by amjustme2: 11:23am On Apr 18, 2019 |
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: 2 Likes 1 Share |
Re: Mutual Funds by 234ng44uk(m): 11:31am On Apr 18, 2019 |
ernie4life: 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. |
Re: Mutual Funds by ernie4life(m): 11:48am On Apr 18, 2019 |
234ng44uk: 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 ? 1 Like |
Re: Mutual Funds by RolD: 11:55am On Apr 18, 2019 |
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 |
Re: Mutual Funds by emmasoft(m): 1:09pm On Apr 18, 2019 |
RolD: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. 1 Like |
Re: Mutual Funds by RolD: 3:43pm On Apr 18, 2019 |
emmasoft: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 |
Re: Mutual Funds by emmasoft(m): 8:02pm On Apr 18, 2019 |
RolD: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. 2 Likes |
Re: Mutual Funds by RolD: 2:31pm On Apr 19, 2019 |
emmasoft:Thanks once again for much needed clarity.. Happy Easter man.. |
Re: Mutual Funds by mjay2018: 8:33pm On Apr 19, 2019 |
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 |
Re: Mutual Funds by amjustme2: 7:00am On Apr 20, 2019 |
mjay2018: Goto FMAN website, Reviews other COY and choose what's is best for you. |
Re: Mutual Funds by Redoil: 7:23am On Apr 20, 2019 |
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 1 Like |
Re: Mutual Funds by Yem0350: 8:00am On Apr 20, 2019 |
mjay2018:FBNQuest or Axa mansard |
Re: Mutual Funds by Just2endowed2(m): 8:28am On Apr 20, 2019 |
Redoil: Hmmmm that is why I choose stanbic asset management |
Re: Mutual Funds by lymelyte(m): 10:18am On Apr 20, 2019 |
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.. |
Re: Mutual Funds by Yem0350: 11:48am On Apr 20, 2019 |
lymelyte:It is possible to withdraw all your funds. There is penalty If you are withdrawing within your first 30 days of subscription |
Re: Mutual Funds by lymelyte(m): 12:59pm On Apr 20, 2019 |
Thanks sir.. What if I don't want to close the account but withdraw all? Yem0350: |
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