NewStats: 3,264,976 , 8,185,248 topics. Date: Friday, 13 June 2025 at 01:51 AM 49461b

Ashvik:
good evening...please I'm new here.. I want to invest in a money market fund... but I'm so confused on which one to go for and how to go about it...please I need your help on this

Q. What is The Meristem Money Market Fund?
A. The Meristem Money Market Fund (“the Fund”) is a collective investment scheme
that seeks current income and stability of principal while maintaining liquidity. The fund
will invest in a select portfolio of short-term money market securities and short dated
government paper, including discounted instruments such as Treasury Bills, Commercial
Papers, Banker’s Acceptances, Certificates of Deposit, Fixed/Tenured Deposits with
suitable financial institutions and other instruments introduced and approved by the
Central Bank of Nigeria (CBN) from time to time.
Q. How does The Meristem Money Market Fund work?
A. The Fund is formed by pooling funds of several individual and corporate investors
which gives the Fund greater “bargaining power” to obtain higher levels of interest
rates when investing. The Fund aims to maximize interest income by investing the
Fund’s assets in selected short-term money market securities.
Q. What is the guaranteed Rate of Return on an investment in the Meristem
Money Market Fund?
A. The return on the Fund is dependent on money market trends and interest rates
obtainable in the Nigerian Financial Market. As the Fund Manager has no influence over
changes in interest rate. Hence, a rate of interest may not be guaranteed.
Q. What are the advantages of investing in the Meristem Money Market
Fund?
A. Advantages include:
§ Capital Preservation: Investment in the money market fund preserves capital.
§ Liquidity – Investors can easily redeem or subscribe to units of the fund at any
time, subject to procedures stated in the trust deed.
§ Diversification – By investing in varied assets, the fund provides investors with
the benefit of instant diversification.
§ istration –The Fund Manager will be responsible for handling the
cumbersome day-to-day istrative functions associated with investing.
§ Low cost- Investing in the Fund is an efficient way of gaining a diversified
market exposure at low costs.
§ Performance Monitoring: The value of Fund is reported daily on the
Manager’s website, allowing you to continually monitor the performance of your
investment.
§ Tax Advantage/Exemption: Interest on the fund is not subject to tax.
Q. How do I subscribe to the Meristem Money Market Fund?
A.
i. Visit (www.meristemwealth.com),
ii. Click on Mutual Funds
iii. or fill Meristem Mutual Funds Subscription form.
iv. A completed application form with KYC documents to be scanned back to
[email protected] or submitted online via our website.
Required Know Your Customer (KYC) Documents:
• A recent port photograph
• A valid means of Identification: (E.g. Driver’s license/international
port/National I.D/Voters Card of the Investor)
• A recent utility bill (not older than 3 months from date of transaction) showing
the same address as stated on the application form/subscription certificate
v. Upon receipt of your completed form, KYC documents and payment, your
Money Market Fund is opened.
vi. Payment can be made for subscription into our bank through any of the
following means:
• Cash deposit
• Cheque deposit
• Funds Transfer
Our bank details are as follows:
Meristem Money Market Fund
Number: 0002190585
Bank: Standard Chartered Bank
Name: Vetiva Trustees Ltd/Meristem Money Fund
vii. The inflow will be verified, after which the equivalent number of units is allotted
to you. You would be notified with a Subscription certificate immediately via
your ed email.
Q. What is the minimum initial amount that can be invested in the Meristem
Money Market Fund?
A. The minimum initial amount that can be invested is N10,000.00.
Q. What is the minimum subsequent amount I can invest in the Meristem
Money Market Fund?
A: The minimum subsequent amount that you can invest is N1,000.00.
Q. How much would a unit of the Meristem Money Market Fund cost?
A. The offer price is N10.00 and remains constant.
Q. Can I invest for my children and my investment club?
A. Yes, it is possible to invest for minors, clubs and groups.
Q. A group of us would like to subscribe tly. How do we go about it?
A. You can apply as a corporate body/entity or make a t application depending on
the nature of the group. An application from a group of individuals should be made in
the names of those individuals and t applicants must all sign the Application form.
Q. Do I get a receipt or certificate?
A. Unit holders will be issued with a Subscription Certificate via e-mail or any other
electronic means, which shall constitute evidence of their title to the number of Units
specified on such documents. For t holders, they shall be entitled to one certificate
in respect of units tly held by them and shall be delivered to the t holder whose
name appears first on the of unit holders.
Q. How long should I stay invested in the Meristem Money Market Fund?
A. The Fund is open-ended. However, redemptions before the expiration of the
minimum holding period of (30) calendar days, will incur a processing fee of 0.5% of
the interest accrued of such redemptions.
Q. Can I transfer my units to another party?
A. Yes, units of the Meristem Money Market Fund can be transferred to a third party at
the instruction of the existing unit holder upon payment of a reasonable fee, with the
consent of the Trustees.
Q. Do I have control over what the Meristem Money Market Fund invests in?
A. No. The Fund Manager, Meristem Wealth Management Limited, makes all the
investment decisions based on guidelines set out in the Fund’s Trust Deed.
Q. Can I use my holdings in the Meristem Money Market Fund as collateral
for a loan?
A. Yes, many banks will accept units of the Fund as collateral for bank loans. However,
this depends on each bank’s lending policy.
Q. What is the procedure for redemptions?
A. You will be required to make a request to redeem all/parts of units you hold by
furnish us with your duly completed Redemption form and Subscription Certificate(s).
Once these documents have been verified, Fund Manager shall then within 5 Business
Days effect Redemption by payment to Unit Holder’s ed bank .
Q. Are there any penalties for withdrawing my funds?
A. No, there are no penalties for withdrawals. However, redemptions before the
expiration of the minimum holding period (30) calendar days, will incur a processing fee
of 0.5% of the interest accrued of such redemptions.
Q. Does the Meristem Money Market Fund pay interest?
A. The Fund Manager, Meristem Wealth Management Limited intends to distribute the
Fund's income on a quarterly basis and unit holders may decide to have their
distributions automatically reinvested in additional units of the Fund at the offer price
on the day of reinvestment or alternatively, elect to have their distributions paid via
electronic transfer to the unit holder’s ed bank .
Q. What is the closing date for the Meristem Money Market Fund?
A. There is no closing date for the Fund as it is open-ended

good to know.

thanks

enque:


withdrew funds in december (i think 2nd week or so).
applied for withdrawal in the morning, and got my cash late afternoon of the same day (around 4pm ish)

umulobi:
Nairalanders,I am considering opening a domiciliary in US dollars denomination for an intention to withdraw from Canada.Which bank should I go with considering charges,services and exchange rates?

Please I need response(s) on this.

Akby:
I came across this quote while reading a book yesterday... Why 'A' Students Work For "C" Students - Robert Kiyosaki

Bogle points out that in mutual funds, you, as the investor, put up 100% of the money and take 100% of the risk. The mutual fund company puts up no money, takes no risk, and yet keeps 80% of the returns. The investor gets back 20% of the gains, if there are gains.

Warren Buffett Agrees
Warren Buffett is regarded as one of the greatest investors of our time. He is a capitalist. He is an entrepreneur. He is not a managerial capitalist. This is what Warren Buffett has to say about these corporate money managers, managerial capitalists, most of whom are "A" students from great schools.

He says:
"Full-time professionals in other fields, let’s say dentists, bring a lot to the layman. But in the aggregate, people get nothing for their money from professional money managers."

If this is true, it might be stated another way: Those who choose not to become financially educated or play an active role in their investments and, instead, turn their money over to professional money managers, are abdicating responsibility for their financial future.

Any comment on this?

I've read enough not to take "Quotes" from people seriously.

If the bodly is true, the only logical thing to do would be to pull out the funds and do what those managers are doing, bear 100% of the risk and keep the 100% profit to yourself right ?

The question now is, can you ?

Akby:
I came across this quote while reading a book yesterday... Why 'A' Students Work For "C" Students - Robert Kiyosaki

Bogle points out that in mutual funds, you, as the investor, put up 100% of the money and take 100% of the risk. The mutual fund company puts up no money, takes no risk, and yet keeps 80% of the returns. The investor gets back 20% of the gains, if there are gains.

Warren Buffett Agrees
Warren Buffett is regarded as one of the greatest investors of our time. He is a capitalist. He is an entrepreneur. He is not a managerial capitalist. This is what Warren Buffett has to say about these corporate money managers, managerial capitalists, most of whom are "A" students from great schools.

He says:
"Full-time professionals in other fields, let’s say dentists, bring a lot to the layman. But in the aggregate, people get nothing for their money from professional money managers."

If this is true, it might be stated another way: Those who choose not to become financially educated or play an active role in their investments and, instead, turn their money over to professional money managers, are abdicating responsibility for their financial future.

Any comment on this?

This strictly applies to things like equity funds, and all this other sort of specialized funds. It doesn't really apply to Bond, money market funds and the rest like it etc. Because they are low risk and no super skills is needed. Most people here do the low risk mutual funds, which is just the investment house investing in Tbills, government bonds etc. The fees they take is almost the same as would normal Tbills or Bonds.

Zerilt:
Mutual funds can be good option for those who don’t have time or knowledge to spend trading on financial markets. Choosing a right fund could be done based on their historical performance

Hi guys, i know little on how money market work but i want to ask question regarding my plans of kind of investment. I want to put some money, but i will need to withdraw some money monthly from the acc, then proceed to keep the for a year .ie: i will safe some money for a year but it's a must i withdraw some every 2nd of every new month till the end of one year , can this work out without having to pay for any kind of penalty charges that could affect my capital. Kindly advise, God bless u all

Akin3891:




Hi guys, i know little on how money market work but i want to ask question regarding my plans of kind of investment. I want to put some money, say 7m but i will need to withdraw 300k monthly from the acc, then proceed to keep the for a year .ie: i will safe 7m for a year but it's a must i withdraw 300k every 2nd of every new month till the end of one year , can this work out without having to pay for any kind of penalty charges that could affect my capital. Kindly advise, God bless u all

There will be no penalty for withdrawal. your interest will just be calculated on the on ur new balance after every time you withdraw the 300k ie. if u put 7m in February, interest will be calculated for 7m until 2nd of march u withdraw 300k. new interest will be calculated on 6.7m and so on and so forth.

Akin3891:




Hi guys, i know little on how money market work but i want to ask question regarding my plans of kind of investment. I want to put some money, say 7m but i will need to withdraw 300k monthly from the acc, then proceed to keep the for a year .ie: i will safe 7m for a year but it's a must i withdraw 300k every 2nd of every new month till the end of one year , can this work out without having to pay for any kind of penalty charges that could affect my capital. Kindly advise, God bless u all

Hi, well I can suggest you try Meristem Mutual funds, and you can withdraw the said amount every 30days, with little or no penalty charge. you can reach me for more info 08178192374

dharpzee:


Hi, well I can suggest you try Meristem Mutual funds, and you can withdraw the said amount every 30days, with little or no penalty charge. you can reach me for more info 08178192374

Can u explain the bolded msg? Thanks, i understand that the intrest is calculated daily,but can it ever go below 10%, because if the rates is not as juicy as TB rates, i will rather go for a TB investment of a short ,but my problem is that i might not always get a 31 days tenor in TB and this can affect my plan of monthly withdrawal . Also is there any risk" whatsoever " to my capital investing in mutual funds? I'm actually looking for a daily intrest rate between 10 to 13%, i understand the daily rate fluctuate.

Akin3891:


Can u explain the bolded msg? Thanks, i understand that the intrest is calculated daily,but can it ever go below 10%, because if the rates is not as juicy as TB rates, i will rather go for a TB investment of a short ,but my problem is that i might not always get a 31 days tenor in TB and this can affect my plan of monthly withdrawal . Also is there any risk" whatsoever " to my capital investing in mutual funds? I'm actually looking for a daily intrest rate between 10 to 13%, i understand the daily rate fluctuate.

For money market funds that I know about of which I have with them (fbnquest, stanbic and mansard), the minimum holding period is 30days. Anytime after 30 days, you will be free to withdraw your money either in part or full without any charges.
As at Friday,
FBNquest: 13.66%
Mansard : 13.46%
I don't trust stanbic rate bcoz they credit a little below their displayed rate.
Based on this, these money market funds suit your taste

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Good morning all, please how can I close my ARM discovery fund

Good afternoon house
Please I'll like to know if anyone uses Arm's money market fund, I'd like to know the features and its advantages/disadvantages over other mutual funds.
Ps. I'm just an undergraduate(without any knowledge of the financial market). I'd be grateful if anybody can suggest suitable mutual fund to invest in, I'll bei intend making deposites into the monthly. Thank You

infj:
Good afternoon house
Please I'll like to know if anyone uses Arm's money market fund, I'd like to know the features and its advantages/disadvantages over other mutual funds.
Ps. I'm just an undergraduate(without any knowledge of the financial market). I'd be grateful if anybody can suggest suitable mutual fund to invest in, I'll bei intend making deposites into the monthly. Thank You

The only thing I can say about them from experience is that their customer care service is very poor. I had no choice than to leave despite their high interest rate

Yem0350:

For money market funds that I know about of which I have with them (fbnquest, stanbic and mansard), the minimum holding period is 30days. Anytime after 30 days, you will be free to withdraw your money either in part or full without any charges.
As at Friday,
FBNquest: 13.66%
Mansard : 13.46%
I don't trust stanbic rate bcoz they credit a little below their displayed rate.
Based on this, these money market funds suit your taste

Do you mean stanbic is poor at money market rate? I used to do with mansard but I closed down late last year and instead of going back there, I opted for stanbic.

The only thing I hate so far from stanbic is the fact that the rates per day aren't displayed.

Good day all.

I noticed that no mmf has a total edge over others.

However, I have narrowed my choice and now stuck between AXA Mansard and Stanbic.

I'm more concerned with Investment appreciation, Customer service and ease of cash out process.

I need help to decide or do I share my investment between the two.

Thanks in advance.

Hello house. I recently asked about F.B.N Heritage fund and I got a decent reply. Now my Quiz is that I want to venture into heritage fund in F.B.N. Your advise will be appreciated. Also,I already have an in F.B.N mmf,I just want to put my eggs in just more than one basket. Advise will really be appreciated. Thanks

C505:


Do you mean stanbic is poor at money market rate? I used to do with mansard but I closed down late last year and instead of going back there, I opted for stanbic.

The only thing I hate so far from stanbic is the fact that the rates per day aren't displayed.

Their rates are not poor. Just that they don't invest all the funds. Hence, their displayed rates are not the same as the actual value of interest you get when you calculate it based on your principal.
They displayed their rates everyday. Just logon to you web portal.

Yem0350:

The only thing I can say about them from experience is that their customer care service is very poor. I had no choice than to leave despite their high interest rate

Even there interest rate is not that fantastic when compare with the other house, i have been comparing them with other house for sometime now, but may leave them after 1st quarter.

Morning Guys...
Does funding stanbic MMF through the app come with extra charges?

thank You for your response. So which would you advise I go for.

Yem0350:

The only thing I can say about them from experience is that their customer care service is very poor. I had no choice than to leave despite their high interest rate

infj:
thank You for your response. So which would you advise I go for.

You can try axa mansard or fbnquest

Thanks I appreciate

Yem0350:

You can try axa mansard or fbnquest

you can share. i split mine between both of them.

pepe1:
Good day all.

I noticed that no mmf has a total edge over others.

However, I have narrowed my choice and now stuck between AXA Mansard and Stanbic.

I'm more concerned with Investment appreciation, Customer service and ease of cash out process.

I need help to decide or do I share my investment between the two.

Thanks in advance.

megacontrol:
you can share. i split mine between both of them.

Ok. Thanks

Y does it take so long for ARM to update ones capital paid to them on the online platform. so frustrating

Hello everyone. Pls what is the convenient way to and pay for AXA Mansard mmf and Stanbic mmf.

Thanks

pepe1:
Hello everyone. Pls what is the convenient way to and pay for AXA Mansard mmf and Stanbic mmf.

Thanks

For AXA Mansard online with your KYC attached and you are good to go. For Stanbic form, complete and scan to them.
For payment you can transfer fund to their and send evidence of payment for Mansard while you evidence of Payment from your online for Stanbic

emmasoft:

For AXA Mansard online with your KYC attached and you are good to go. For Stanbic form, complete and scan to them.
For payment you can transfer fund to their and send evidence of payment for Mansard while you evidence of Payment from your online for Stanbic

Thanks very much.

I appreciate your time.

FBNQuest received the ‘Equity Fund of the Year’ and ‘Bond Fund of the Year’ awards, while Meristem received the Stockbroker of the Year award.

https://punchng.com/fbnquest-meristem-get-recognition-at-finance-awards/

Dfavouredone:
FBNQuest received the ‘Equity Fund of the Year’ and ‘Bond Fund of the Year’ awards, while Meristem received the Stockbroker of the Year award.

https://punchng.com/fbnquest-meristem-get-recognition-at-finance-awards/

Good to hear and Congrats! to FBNQuest and Meristem. However it's the interest/dividend that enters the unit holders bank that really matter at the end of the day.

emmasoft:


Good to hear and Congrats! to FBNQuest and Meristem. However it's the interest/dividend that enters the unit holders bank that really matter at the end of the day.

Good to hear and Congrats! to FBNQuest and Meristem. However it's the interest/dividend that enters the unit holders bank that really matter at the end of the day.