Let’s say I bought 10k units 5 months ago, and I bought another 5k units last week. If I withdraw 2k units now, which units get withdrawn first? Will I be penalized given that only 5k of my units ...Read more
Fokona Latest Questions
Please throw more light on money market mutual funds and how compounding works on it.
We understood that if any bank collapses, NDIC, will offset, N5m from the deposit if it more that I and the remaining will have to take time, if it’s going to be recovered. What it is process of retrieving customer ...Read more
I invested in mutual money fund, first week of this month and took some money out three days ago for another investment. Though I was told that the interest with not be up to expectation since I withdraw out of ...Read more
One of our Community members ask: Good day sir, I want to understand how interest rates work in money market mutual funds in Nigeria. For example: If I invest ₦5,000 in a money market mutual fund when the interest rate ...Read more
Money Market Mutual Fund is said to be a pool investment managed by professional fund managers, who invest in low risk short terms instruments like Treasury Bills, FGN Bond, Commercial paper between 13% – 15% depending on the type. If pooled ...Read more
For compounding tenor of mmf which is better,monthly, quarterly,half yearly or yearly.
I’ve been hearing people talk about something called “Money Market Mutual Fund” in Nigeria, especially as a safer way to grow money compared to leaving cash inside a normal savings account. But honestly, I don’t fully understand how it works.Read more
Is it advisable to invest in money market mutual funds using two different platforms?
Can I save a certain amount monthly on mmf like savings account or I have to keep a sum of money once in the MMF sir?