The First Bank of Nigeria money market fund is an investment platform offered by First Bank. It is operated by FBN Capital Asset Management with a brand name known as FBNQuest. It invest in a number of wide range some of which include money market securities such treasury bills, fixed deposits, Bankers Acceptances, commercial papers etc. The money market fund promises a good and high interest yield.
The FBN Money Market Fund is an investment platform which offers short to medium investment plans which offers both stability and liquidity. The unit holders get income on a quarterly basis. The FBN Money Market Fund when compared to the normal savings account offers higher interest rates. Interestingly, investors may invest as low as N5,000 and may add more fund at any point in time. The minimum investment time is 30 days.
The Interest Rate On Investment
The interest rate on the FBN Money Market Fund offers great investment returns and profit. The interest rate is not fixed as we already know that such is usually determine by forces of demand and supply. If you desire to know the interest rate, you may check through its investment history.
At at first February, The FBN Money Market Fund has yield of 16.40% at N100 bid price. For instance in 2015, at N100 bid price below is each month yield percentage;
31 Jan 2015 at 12.37%
28 Feb 2015 at 12.50%
31 Mar 2015 at 13.53%
30 Apr 2015 at 14.44%
31 May 2015 at 13.81%
30 Jun 2015 at 13.63%
31 Jul 2015 at 14.40%
31 Aug 2015 at 13.53%
30 Sep 2015 at 13.79%
31 Oct 2015 at 12.34%
30 Nov 2015 at 10.66%
31 Dec 2015 at 8.61%
To view up til date historical yield of FBN Money Market Fund, please go here, http://fbnquest.com/asset-management/fund-prices-and-performance/fbn-money-market-fund-historical-fund-yield/?nav= With this, you can help yourself to make an informed decision about your participation.
How To Register An Account
To register for the FBN Money Market Fund, you can do that by walking into any First Bank branch nationwide and make your intentions known at the customer service desk. You will be required to fill out forms that will be made available to you after which your account will be created. You can then trade from your account. You may as well log on to the website, https://myportfolio.fbncapital.com/corp/AuthenticationController and then click on “Register for Online Access”, download the registration form and fill it. After filling, submit at the nearest first Bank branch.
How To Fund Account
You can fund your investment account via the your profile online through internet banking. There is an easy interface with which you can fund your FBN Money Market Fund account.
For enquiries, kindly forward your enquiry email to email@example.com or call +234(1)279 8300, 07080653100 between Monday and Friday from 8am to 5pm. You may also visit her head office at 18 Keffi Street, Off Awolowo Road, S.W. Ikoyi, Lagos, Nigeria.