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FIXED DEPOSIT TERMS
Rank: Veteran Joined: 12/23/2010 Posts: 1,229
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mukiha wrote:mwekez@ji wrote:mukiha wrote:mwekez@ji wrote:mukiha wrote:mwekez@ji wrote:T Bills outdo Fixed Deposit Terms any day! And Money Market Unit Trusts are currently better than T-Bills. Check out Britam and CIC @mukiha, give us the numbers after factoring in the fund management charges The quoted figures are net of management fees and withholding taxes! @mukiha, what are the quoted figures (net of management fees and WHT? Link? Figures are listed in the newspapers daily... on the same page as stocks and currencies. My January statement at CIC has just arrived, the fund earned an average of 9.39% pa net - this is the amount credited to my account. 90-day T Bills were hovering around 8.5% in the same month. The longer the period the higher the rate. Can't compare a 90 day t/bill with an annual rate
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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For Sport wrote:mukiha wrote:mwekez@ji wrote:mukiha wrote:mwekez@ji wrote:mukiha wrote:mwekez@ji wrote:T Bills outdo Fixed Deposit Terms any day! And Money Market Unit Trusts are currently better than T-Bills. Check out Britam and CIC @mukiha, give us the numbers after factoring in the fund management charges The quoted figures are net of management fees and withholding taxes! @mukiha, what are the quoted figures (net of management fees and WHT? Link? Figures are listed in the newspapers daily... on the same page as stocks and currencies. My January statement at CIC has just arrived, the fund earned an average of 9.39% pa net - this is the amount credited to my account. 90-day T Bills were hovering around 8.5% in the same month. The longer the period the higher the rate. Can't compare a 90 day t/bill with an annual rate I loath the days back in 2012 same time or thereabout when T-bills were hovering about 16% for 90 days!!! Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: New-farer Joined: 8/23/2010 Posts: 63 Location: Kampala
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mukiha wrote:mwekez@ji wrote:mukiha wrote:mwekez@ji wrote:T Bills outdo Fixed Deposit Terms any day! And Money Market Unit Trusts are currently better than T-Bills. Check out Britam and CIC @mukiha, give us the numbers after factoring in the fund management charges The quoted figures are net of management fees and withholding taxes! Guys, UAP Financial Services has quotes of 14-13%p.a. If your interested, just drop email at msimon@talk21.com
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Rank: Elder Joined: 2/16/2007 Posts: 2,114
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msimon wrote:Guys, UAP Financial Services has quotes of 14-13%p.a. If your interested, just drop email at msimon@talk21.com Are they licenced by CMA to do this business?
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Rank: New-farer Joined: 8/23/2010 Posts: 63 Location: Kampala
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Chaka wrote:msimon wrote:Guys, UAP Financial Services has quotes of 14-13%p.a. If your interested, just drop email at msimon@talk21.com Are they licenced by CMA to do this business? Yep, they are licensed/
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Rank: Elder Joined: 6/27/2008 Posts: 4,114
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Impunity wrote:mukiha wrote:Chaka wrote:mukiha wrote:mwekez@ji wrote:T Bills outdo Fixed Deposit Terms any day! And Money Market Unit Trusts are currently better than T-Bills. Check out Britam and CIC What about Amana? I don't know anything about Amana apart from that they report higher returns than everybody. But who's their tall uncle? CIC has Co-Op bank behind it Britam has Eqty ICEA is, well, huge in it's own right. etc How about Amana? Who knows? For that reason, I am hesitant to put my money with them. And with which Trust do you put your money? Read post #37 Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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mawinder wrote:Impunity wrote:Ngong wrote:And the USD rates quite good,are we heading to hundred?  If a certain coalition wins then USD rate will hit 150 by June 2013; dump and wait for rate to come down. That is why I support that unnamed coalition. You will make so much KES but you wont buy anything valuable since the cost of say bread will be kindu Kes.200 from currently 50 due to erosion of economy. So its a two-aged sword.  Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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mukiha wrote:Impunity wrote:mukiha wrote:Chaka wrote:mukiha wrote:mwekez@ji wrote:T Bills outdo Fixed Deposit Terms any day! And Money Market Unit Trusts are currently better than T-Bills. Check out Britam and CIC What about Amana? I don't know anything about Amana apart from that they report higher returns than everybody. But who's their tall uncle? CIC has Co-Op bank behind it Britam has Eqty ICEA is, well, huge in it's own right. etc How about Amana? Who knows? For that reason, I am hesitant to put my money with them. And with which Trust do you put your money? Read post #37 CIC ok. Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 4/30/2008 Posts: 6,029
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Impunity wrote:mawinder wrote:Impunity wrote:Ngong wrote:And the USD rates quite good,are we heading to hundred? If a certain coalition wins then USD rate will hit 150 by June 2013; dump and wait for rate to come down. That is why I support that unnamed coalition. You will make so much KES but you wont buy anything valuable since the cost of say bread will be kindu Kes.200 from currently 50 due to erosion of economy. So its a two-aged sword. Then we will impeach the coalition to ensure peace is there and the dollar goes to 60 bob.Another coalition's deal is sweeter i.e you go with a business proposal and you get the funds,no guarantors,security,or other unnecessary paperwork and the best thing is that the money is free and is for all youth.That reminds me of the great depression when children were using bank notes to make toy cars.
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Rank: Elder Joined: 4/30/2008 Posts: 6,029
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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Impunity wrote:mawinder wrote:Impunity wrote:Ngong wrote:And the USD rates quite good,are we heading to hundred? If a certain coalition wins then USD rate will hit 150 by June 2013; dump and wait for rate to come down. That is why I support that unnamed coalition. You will make so much KES but you wont buy anything valuable since the cost of say bread will be kindu Kes.200 from currently 50 due to erosion of economy. So its a two-aged sword. Actually everything we consume is priced in dollars since we are an import economy.. For example bread today at 50bob is equivalent to $0.60 at a USD/KES of 87... so if even if bread shoots up to 200bob it still has to be equivalent to $0.60 hence the USD/KES exchange rate will go up to 350bob to maintain this balance! This would happen unless GOK controls the rates by force!! Mark 12:29
Deuteronomy 4:16
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Rank: Elder Joined: 6/27/2008 Posts: 4,114
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guru267 wrote:Impunity wrote:mawinder wrote:Impunity wrote:Ngong wrote:And the USD rates quite good,are we heading to hundred? If a certain coalition wins then USD rate will hit 150 by June 2013; dump and wait for rate to come down. That is why I support that unnamed coalition. You will make so much KES but you wont buy anything valuable since the cost of say bread will be kindu Kes.200 from currently 50 due to erosion of economy. So its a two-aged sword. Actually everything we consume is priced in dollars since we are an import economy.. For example bread today at 50bob is equivalent to $0.60 at a USD/KES of 87... so if even if bread shoots up to 200bob it still has to be equivalent to $0.60 hence the USD/KES exchange rate will go up to 350bob to maintain this balance! This would happen unless GOK controls the rates by force!! @guru; do you mean that market dynamics have no role in the price of bread in Kenya? For example, there has been a shortage of bread in Nairobi for the last several years - that's why no baker bothers to advertise (apart from supa loaf which other bakers agree is a waste of money) because no matter how bad your bread is, it will still be bought by some desperate customer.... Isn't this the reason why the price of bread has been on an upward trend? Same with milk? Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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Rank: Chief Joined: 5/31/2011 Posts: 5,121
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Impunity wrote:For Sport wrote:mukiha wrote:mwekez@ji wrote:mukiha wrote:mwekez@ji wrote:mukiha wrote:mwekez@ji wrote:T Bills outdo Fixed Deposit Terms any day! And Money Market Unit Trusts are currently better than T-Bills. Check out Britam and CIC @mukiha, give us the numbers after factoring in the fund management charges The quoted figures are net of management fees and withholding taxes! @mukiha, what are the quoted figures (net of management fees and WHT? Link? Figures are listed in the newspapers daily... on the same page as stocks and currencies. My January statement at CIC has just arrived, the fund earned an average of 9.39% pa net - this is the amount credited to my account. 90-day T Bills were hovering around 8.5% in the same month. The longer the period the higher the rate. Can't compare a 90 day t/bill with an annual rate I loath the days back in 2012 same time or thereabout when T-bills were hovering about 16% for 90 days!!! Whats the minimum investment period in a money market unit trust?
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Rank: Veteran Joined: 11/17/2012 Posts: 1,461 Location: Ngong Forest
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Rank: Elder Joined: 6/27/2008 Posts: 4,114
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mwekez@ji wrote:
Whats the minimum investment period in a money market unit trust?
Ideally, one day! You can put in the money today and take it out tomorrow... But you have to contend with the T+3 banking transaction period, so realistically it is one week... You put in the money today, fill-in withdrawal form tomorrow, then wait 4 days for banks to transfer to your account. Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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Rank: Elder Joined: 6/27/2008 Posts: 4,114
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In view of above and the fact that many UTs have 10k minimum investment, I still can't understand why people keep savings in fixed deposits! Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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Rank: Elder Joined: 3/2/2009 Posts: 26,328 Location: Masada
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mukiha wrote:In view of above and the fact that many UTs have 10k minimum investment, I still can't understand why people keep savings in fixed deposits! What %age will CIC pay for a deposit of say 100K for one month? Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 6/27/2008 Posts: 4,114
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Impunity wrote:mukiha wrote:In view of above and the fact that many UTs have 10k minimum investment, I still can't understand why people keep savings in fixed deposits! What %age will CIC pay for a deposit of say 100K for one month? Unit trusts returns are NOT based on the value of investment. Everybody gets the same percentage - whether you put in 10k or 10m! Secondly, the rates are evaluated on a daily basis. If today's return is 9%pa, everybody gets 9% p.a. (of course that means you divide the 9% by 365!!); if tomorrow it is 8%, everybody gets 8%. The rates are NOT negotiated with the investor before investment. You get what the fund earns on a day-to-day basis. To answer your question: Check the Daily Nation, for example, on the page that has stocks and forex tables - top right hand corner. CIC's yesterday's rate was 9.01% p.a.... but Britam was higher at 9.74% p.a. Actually, I am now considering moving the money to Britam.... Amana PAID 11.16% p.a. yesterday Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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Rank: Veteran Joined: 11/17/2012 Posts: 1,461 Location: Ngong Forest
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mukiha wrote:Impunity wrote:mukiha wrote:In view of above and the fact that many UTs have 10k minimum investment, I still can't understand why people keep savings in fixed deposits! What %age will CIC pay for a deposit of say 100K for one month? Unit trusts returns are NOT based on the value of investment. Everybody gets the same percentage - whether you put in 10k or 10m! Secondly, the rates are evaluated on a daily basis. If today's return is 9%pa, everybody gets 9% p.a. (of course that means you divide the 9% by 365!!); if tomorrow it is 8%, everybody gets 8%. The rates are NOT negotiated with the investor before investment. You get what the fund earns on a day-to-day basis. To answer your question: Check the Daily Nation, for example, on the page that has stocks and forex tables - top right hand corner. CIC's yesterday's rate was 9.01% p.a.... but Britam was higher at 9.74% p.a. Actually, I am now considering moving the money to Britam.... Amana PAID 11.16% p.a. yesterday Why not invest in all three instead of moving from one to the other?
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Rank: Member Joined: 2/15/2010 Posts: 128 Location: Kenya
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mukiha wrote:In view of above and the fact that many UTs have 10k minimum investment, I still can't understand why people keep savings in fixed deposits! Actually Zimele only requires initial investment of 500Kes later top ups of minimum 250.they have mpesa paybill. To answer your question Ignorance.
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