SaintUlot:


Which mfm are you currently using for dollar fund investment.

Presently, my money is in my account. I would have used Stanbic but I already have the limit of investment I want to have there for now let me diversify.

I have opened a united capital Eurobond fund account but have not been able to fund it. I tried to do a transfer to their account and was told by my bank that I cannot do a Dollar transfer between Nigerian banks except I am sending to a bank outside Nigeria.

Then I tried to deposit the money only be told by the teller that the account I deposited the money to is a naira account..and the receipt printed for the deposit was showing a naira sign. It means that e.g my $1,000 becomes N1,000 which is not in any upto what is acceptable for the Eurobond fund. The teller refunded my Dollar and ask me to pay her Naira because they could not debit money from that account after crediting it.

I am still waiting for them to reply me on how to go about it.

Their customer service gave me an account no that I thought was a Dollar Account.

emmanuelewumi:


I don't know, but year till date return from FBN Asset Management Eurobond Fund gave a return of over 9%

Wow, is this rate still valid?

deleson:
Okay.

I’m aware of FBN’s current 9.92% interest rate but the challenge is the entry fee $2500.

Union capital has a lower entry rate at $1000. I’ve shot them an email for the interest rate.

Thanks!

Where can one view the current rate for the dollar fund

.

freeman67:


Presently, my money is in my account. I would have used Stanbic but I already have the limit of investment I want to have there for now let me diversify.

I have opened a united capital Eurobond fund account but have not been able to fund it. I tried to do a transfer to their account and was told by my bank that I cannot do a Dollar transfer between Nigerian banks except I am sending to a bank outside Nigeria.

Then I tried to deposit the money only be told by the teller that the account I deposited the money to is a naira account..and the receipt printed for the deposit was showing a naira sign. It means that e.g my $1,000 becomes N1,000 which is not in any upto what is acceptable for the Eurobond fund. The teller refunded my Dollar and ask me to pay her Naira because they could not debit money from that account after crediting it.

I am still waiting for them to reply me on how to go about it.

Their customer service gave me an account no that I thought was a Dollar Account.

To do funding for dollar investment is as this difficult, that's strange.

freeman67:


Presently, my money is in my account. I would have used Stanbic but I already have the limit of investment I want to have there for now let me diversify.

I have opened a united capital Eurobond fund account but have not been able to fund it. I tried to do a transfer to their account and was told by my bank that I cannot do a Dollar transfer between Nigerian banks except I am sending to a bank outside Nigeria.

Then I tried to deposit the money only be told by the teller that the account I deposited the money to is a naira account..and the receipt printed for the deposit was showing a naira sign. It means that e.g my $1,000 becomes N1,000 which is not in any upto what is acceptable for the Eurobond fund. The teller refunded my Dollar and ask me to pay her Naira because they could not debit money from that account after crediting it.

I am still waiting for them to reply me on how to go about it.

Their customer service gave me an account no that I thought was a Dollar Account.

If you cannot do dollar transfer between two Nigerian banks how will United capital be able to send your interest to your bank account?

SaintUlot:


If you cannot do dollar transfer between two Nigerian banks how will United capital be able to send your interest to your bank account?

I am still waiting to hear from their customer service on these issues..

Trying to open a mutual fund account with Stanbic IBTC and its just frustrating. Address on my NIMC card is no longer my current address and this is just trapped my funds in my savings account. Anyone here with help, kindly holler.

freeman67:


Presently, my money is in my account. I would have used Stanbic but I already have the limit of investment I want to have there for now let me diversify.

I have opened a united capital Eurobond fund account but have not been able to fund it. I tried to do a transfer to their account and was told by my bank that I cannot do a Dollar transfer between Nigerian banks except I am sending to a bank outside Nigeria.

Then I tried to deposit the money only be told by the teller that the account I deposited the money to is a naira account..and the receipt printed for the deposit was showing a naira sign. It means that e.g my $1,000 becomes N1,000 which is not in any upto what is acceptable for the Eurobond fund. The teller refunded my Dollar and ask me to pay her Naira because they could not debit money from that account after crediting it.

I am still waiting for them to reply me on how to go about it.

Their customer service gave me an account no that I thought was a Dollar Account.

They told me I need to open a domiciliary account to fund my eurobond fund account.

OmniSparrow:
Trying to open a mutual fund account with Stanbic IBTC and its just frustrating. Address on my NIMC card is no longer my current address and this is just trapped my funds in my savings account. Anyone here with help, kindly holler.

You can use any other valid means of identification e.g Drivers license, international passport. For more info on how to go about it check my signature will put you through.

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OmniSparrow:

They told me I need to open a domiciliary account to fund my eurobond fund account.

Yes, you need a domiciliary account, but @freeman67 has a domiciliary account and he is still being faced with another hassle.

Hello good morning house..
What's the current rate of Stanbic IBTC MMF?
Any recovery?

OmniSparrow:

They told me I need to open a domiciliary account to fund my eurobond fund account.

I believe the dorm is for investors refund and redemption. Most likely it's accepted for the investment houses as a means of refund.

SaintUlot:


Yes, you need a domiciliary account, but @freeman67 has a domiciliary account and he is still being faced with another hassle.

Yes, I already have a dormiciliary account I opened at the time I wanted to invest VDF and it is still functional. However, the Issue I have is that the account given to me for Eurobond Fund was not a dollar denominated account and as such I could not pay in dollar.

Secondly, I was told transfers from a Nigerian Dollar account to another Nigerian Dollar account is no longer accepted.

freeman67:





I believe the dorm is for investors refund and redemption. Most likely it's accepted for the investment houses as a means of refund.




Yes, I already have a dormiciliary account I opened at the time I wanted to invest VDF and it is still functional. However, the Issue I have is that the account given to me for Eurobond Fund was not a dollar denominated account and as such I could not pay in dollar.

Secondly, I was told transfers from a Nigerian Dollar account to another Nigerian Dollar account is no longer accepted.

So how can one fund the account?

Dsticks47:


You can use any other valid means of identification e.g Drivers license, international passport. For more info on how to go about it check my signature will put you through.

Talking about stanbic not investment one.

freeman67:





I believe the dorm is for investors refund and redemption. Most likely it's accepted for the investment houses as a means of refund.




Yes, I already have a dormiciliary account I opened at the time I wanted to invest VDF and it is still functional. However, the Issue I have is that the account given to me for Eurobond Fund was not a dollar denominated account and as such I could not pay in dollar.

Secondly, I was told transfers from a Nigerian Dollar account to another Nigerian Dollar account is no longer accepted.

@the bolded, in that case how will investors make payment for investment and how will fund managers pay interest on investment if dorm to dorm transfers are not allowed?

Dsticks47:


I thinks it’s best u go for VGIF.

*VGIF*

What is VANTAGE GUARANTEED INCOME FUND?
VANTAGE GUARANTEED INCOME FUND (VGIF) is an open-ended collective investment scheme which pools investment into a wide range of Fixed Income Securities especially very liquid short term money market instruments and government treasuries

*What are the objectives of the Fund?*

The fund invests in a well-diversified portfolio of Fixed Income Securities, short term money market instruments and government bonds as well as placements with rated financial institutions in Nigeria as well as equities.

*What is the guaranteed return for the VANTAGE GUARANTEED INCOME FUND?*

The guaranteed return of the fund is referenced to the Central Bank of Nigeria (CBN)’s Standing Deposit Facility (SDF). The SDF is the lower limit of the asymmetric corridor around the MPR

*What are the advantages of investing in the VANTAGE GUARANTEED INCOME FUND?*

There are many advantages of investing in the Fund which include:
Flexibility: Subscribers can buy into the fund or redeem either part or their total units in the fund at any time irrespective of the 6-month fixed tenor.
Capital Preservation: Principal is secured and interest is guaranteed up to the SDF rate.
Regular Income Stream: The fund pays dividend twice yearly (in January and July)
Additional Income: In addition to the guaranteed return, unit holders can also earn an additional interest pay-out equivalent to 35% of the fund’s excess return above the benchmark Guaranteed Return (SDF); typically referred to as profit-sharing.
Expertise: VGIF is managed professionally by Investment One Funds Management Limited (a subsidiary of Investment One Financial Services Limited).

*Who are the Trustees of VGIF and what are their functions?*

FBN Trustees Limited, a subsidiary of First Bank of Nigeria Holding Plc. is the trustee to the Fund. The Trustee’s duties include ensuring that the Fund manager carries out its duties in line with the Trust Deed and rules and regulations of SEC thereby protecting the interest of the unit holders.

*How do I redeem my investment?*

You can redeem all or part of the units held on any Business day. The redemption is processed within 3 – 5 working days. Investors will be required to submit a redemption form and the relevant certificate(s) / fund statement(s) to the Fund Manager.

*Are there any penalty for redemption?*

No additional charges will be incurred on redemption, only units redeemed before the maturity tenor of 6months will attract 10% of the interest accrued on the investment.

*What is the minimum amount that can be invested in VGIF?*

The minimum initial amount is Fifty Thousand Naira Only (N50,000.00).

*Do I get an evidence of investment?*

Each subscriber is issued a Fund Statement for every investment made. The Certificate or Fund Statement is required upon redemption of investment; it serves as an evidence of your investment in the Fund. The Certificate/Fund Statement will be sent via mail to the investor or can be picked up at any of our offices.

*How do I monitor my investment?*

Investor can view their account online or contact the Fund Manager on any working day to request for his/her statement which shows the total number of units and the interest earned so far on the investment.

*Does the VGIF pay dividends?*
VGIF pays dividend to its investors twice yearly (January & July). Unit holders have the option of being paid or re-investing the dividend in the fund to increase their holding.

For further clarification or additional information relating to VANTAGE GUARANTEED INCOME FUND (VGIF).

Please what is the account number for VGIF?

pimpo:


Please what is the account number for VGIF?

Thank you for your interest in the Vantage guaranteed Income fund (VGIF)

The account Number for payment will be sent to your mail after successful registration.

For more information. Check my signature.

SaintUlot:


@the bolded, in that case how will investors make payment for investment and how will fund managers pay interest on investment if dorm to dorm transfers are not allowed?

I am yet to get answers from them for now.

OmniSparrow:
Trying to open a mutual fund account with Stanbic IBTC and its just frustrating. Address on my NIMC card is no longer my current address and this is just trapped my funds in my savings account. Anyone here with help, kindly holler.

Means of Identification in Nigeria now includes: National Identification Card, International Passport, Drivers Licence and Permanent Voters Card. You can use any of the above apart from National ID.
Also, Utility bills includes: Water bills, Electricity bills, House rent receipts etc. Stanbic also accepts your bank statement provided it carries your house address.

Having an address presently different from the one you have on your National ID should not hinder you. Your house/contact address could change at any time. It is just for you to explain to the bank one any question comes up about it.

You can give your loved ones a gift that keep on giving this season! Show true love by sowing a seed into your own life, for your wife/husband, children etc. With less than 5k you can give a gift that last as long as you want. Click on the link on my signature or call me to learn how.

I need to understand the concept of this business first, before investing

jom28gy:
I need to understand the concept of this business first, before investing

Contact me.
Check my signature

Don't get carried away by the juicy offers, its a bait.
don't invest in what you don't understand, if you must invest in it, please take your time and understand it

ernie4life:
Don't get carried away by the juicy offers, its a bait.
don't invest in what you don't understand, if you must invest in it, please take your time and understand it

@ernie4life very correct. Actually the first investment you must do is on yourself invest in training/Knowledge before you invest in any money growing windows.You need it in order to take calculated risk.NB: All investment has risk attached it's only that the risks are in different categories/levels: Low, Medium, High and Very High levels

Dsticks47:


Contact me.
Check my signature

am contacting you already,say what you want to say here

UNDERSTANDING MUTUAL FUND INVESTING

The pooling of financial resources together for investment purposes with an objective to minimise risk with varied investment options and maximise returns is the ideology that gave rise to mutual funds. A mutual fund is a fund or a collective investment scheme that pools money from many investors and invests the money in stocks, bonds, short term money market instruments, other securities or assets, or some combination of these investments. This avails small investors who ordinarily would find it quite difficult with a small amount of capital to access diversified portfolios of equities, bonds and other securities which is professionally managed for optimal yield.

Mutual funds are operated by fund managers, who invest the fund's capital to produce capital gains and income for the fund's investors. Each share that makes up the fund represents an investor’s proportionate ownership of the fund’s holdings and the income those holdings generate. The combined holdings the mutual fund owns are known as its portfolio. The portfolio is structured and maintained to match the investment objectives stated in the prospectus issued by the sponsor of the fund.

Mutual Funds also known as Unit trusts can either be Open Ended Funds or Close Ended Funds. The focus of this write-up will be mutual funds.


Open-Ended Fund: . This is a fund that has no restrictions on the amount of shares the fund will issue. If demand is high enough, the fund will continue to issue units no matter how many investors there are. Open-ended funds also buy back units when investors wish to sell. By continuously selling and buying back fund units, these funds provide investors with a very useful and convenient investing vehicle.

Close-Ended Fund: This is a publicly traded investment company that raises a fixed amount of capital through an initial public offering (IPO). The fund is then structured, listed and traded like a stock on a stock exchange. It raises a prescribed amount of capital only once through an IPO by issuing a fixed number of shares, which are purchased by investors in the close-ended fund. Unlike regular stocks, close-ended fund stock represents an interest in a specialized portfolio of securities that is actively managed by an investment advisor and which typically concentrates on a specific industry, geographic market or sector.

Unit Investment Trusts (UITs) is one which make a one-time public offering of only a specific, fixed number of redeemable securities called “units” and which will terminate and dissolve on a date specified at the creation of the UIT.

Continuation.........

FBNQUEST is really vexing me now o.

The little money I transferred to them for top up of my fixed income fund account is yet to reflect after a whopping 10 days, since 03/02/20.

Did I miss any memo about a delay in their services?

This situation is not funny to me.

Ezeanna:
FBNQUEST is really vexing me now o.

The little money I transferred to them for top up of my fixed income fund account is yet to reflect after a whopping 10 days, since 03/02/20.

Did I miss any memo about a delay in their services?

This situation is not funny to me.

Call Customer Care 012702290 or 07080653100

Ezeanna:
FBNQUEST is really vexing me now o.

The little money I transferred to them for top up of my fixed income fund account is yet to reflect after a whopping 10 days, since 03/02/20.

Did I miss any memo about a delay in their services?

This situation is not funny to me.

Next time do a transfer in this format (customer id / full name) preferably before 12 noon if u want the value to reflect same day. Iv been doing it that way since this year and had no issues so far... See d memo they sent earlier on below

looks like its about time to pull out of MMF, here is Stanbic rate in last 30 days. Will it ever rise again?