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Amana Capital
Rank: Elder Joined: 2/26/2012 Posts: 15,979
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Just seen something floating on Facebook and wondered why it has not been discussed here on Wazua...but I guess here is the reason....  Apparently the money that stays with them the least time makes more money...mmmmmhhhh..... "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Member Joined: 1/20/2015 Posts: 489 Location: Nairobi
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murchr wrote:Just seen something floating on Facebook and wondered why it has not been discussed here on Wazua...but I guess here is the reason.... Apparently the money that stays with them the least time makes more money...mmmmmhhhh..... Personally, i have not tried them. However, sometime back i researched about them and they had very many positive reviews. Shorter durations offer high returns because of certainity unlike longer durations like 6 months where anything can happen happen along the way. Even with I $ M, shorter periods attract higher returns. Enjoy every moment of your life, you never know when your time will come.
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Rank: Member Joined: 12/21/2009 Posts: 602
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Wait.. Are you saying I could have earned 27.08% (minus the 2.25% fee) for a 90 day unit trust with the growth fund? Why do I find that hard to believe in the current environment? Do they have a prospectus that says which Kenyan counters constitute their portfolio? murchr wrote:Just seen something floating on Facebook and wondered why it has not been discussed here on Wazua...but I guess here is the reason.... Apparently the money that stays with them the least time makes more money...mmmmmhhhh.....
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Rank: Veteran Joined: 4/16/2014 Posts: 1,420 Location: Bohemian Grove
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Who are the owners/directors? Coz they're going to be billionaires just like the VIP Portal guys.
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Rank: Hello Joined: 11/14/2014 Posts: 3 Location: Nairobi
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The returns stated are correct. What they do is, their Balanced and Growth Fund are locked for 3 years. So in a one month period, your investment would have yielded 60% interest (this will depend on how the stocks they invest in perform) same goes for 3 months back, 6 months back , 12 months back . Tricky thing is , you cannot withdraw before 3 years, so you couldnt have gotten in then get out in 3 months  . As for their Directors check here http://amanacapital.co.k...ages/board_of_directors and Amana has been there since long ago, only that guys dont know them!
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Rank: Elder Joined: 2/26/2012 Posts: 15,979
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Victorianjagi wrote:The returns stated are correct. What they do is, their Balanced and Growth Fund are locked for 3 years. So in a one month period, your investment would have yielded 60% interest (this will depend on how the stocks they invest in perform) same goes for 3 months back, 6 months back , 12 months back . Tricky thing is , you cannot withdraw before 3 years, so you couldnt have gotten in then get out in 3 months . As for their Directors check here http://amanacapital.co.k...ages/board_of_directors and Amana has been there since long ago, only that guys dont know them! Say that AGAIN Victoria Njagi "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 2/16/2007 Posts: 2,114
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Victorianjagi wrote:The returns stated are correct. What they do is, their Balanced and Growth Fund are locked for 3 years. So in a one month period, your investment would have yielded 60% interest (this will depend on how the stocks they invest in perform) same goes for 3 months back, 6 months back , 12 months back . Tricky thing is , you cannot withdraw before 3 years, so you couldnt have gotten in then get out in 3 months . As for their Directors check here http://amanacapital.co.k...ages/board_of_directors and Amana has been there since long ago, only that guys dont know them! But this gains would be subject to WHT at redemption?
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Rank: Elder Joined: 10/3/2008 Posts: 4,057 Location: Gwitu
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I don't know about other funds but Amana Shilling Fund is the best in the market. High interest rates ,timely updates and so easy to redeem. Truth forever on the scaffold
Wrong forever on the throne
(James Russell Rowell)
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Rank: Member Joined: 12/21/2009 Posts: 602
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Victoria: If this is the case, why does the Amana website state that the minimum investment period is 91 days for both the balanced and growth fund? And where does it say that you cannot access the money before 3 years Victorianjagi wrote:The returns stated are correct. What they do is, their Balanced and Growth Fund are locked for 3 years. So in a one month period, your investment would have yielded 60% interest (this will depend on how the stocks they invest in perform) same goes for 3 months back, 6 months back , 12 months back . Tricky thing is , you cannot withdraw before 3 years, so you couldnt have gotten in then get out in 3 months . As for their Directors check here http://amanacapital.co.k...ages/board_of_directors and Amana has been there since long ago, only that guys dont know them!
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Rank: Member Joined: 12/21/2009 Posts: 602
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Plus a 2.5% management fee per year, irrespective of what the market does. Given the yearly yields they currently have posted for the balanced fund (7.28%) and the growth fund (8.80%) One might be better off with a renewing 91 day treasury note...unless I am missing something. Chaka wrote:
But this gains would be subject to WHT at redemption?
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Rank: Elder Joined: 5/1/2010 Posts: 3,024 Location: Hapa
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kaka2za wrote:I don't know about other funds but Amana Shilling Fund is the best in the market.
High interest rates ,timely updates and so easy to redeem. What are the rates you have enjoyed? Float like a butterfly, sting like a bee. - Muhammad Ali🐝
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Rank: Member Joined: 7/3/2014 Posts: 245
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butterflyke wrote:kaka2za wrote:I don't know about other funds but Amana Shilling Fund is the best in the market.
High interest rates ,timely updates and so easy to redeem. What are the rates you have enjoyed? Roughly 1% per month net. No redemption charge and funds are available within 2 days of filling the redemption form via email. I have never actually visited their office. Best place to park windfalls before deployment. In the world of securities, courage and patience become the supreme virtues after adequate knowledge and a tested judgment are at hand.
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Rank: Elder Joined: 2/16/2007 Posts: 2,114
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TheGeek wrote:butterflyke wrote:kaka2za wrote:I don't know about other funds but Amana Shilling Fund is the best in the market.
High interest rates ,timely updates and so easy to redeem. What are the rates you have enjoyed? Roughly 1% per month net. No redemption charge and funds are available within 2 days of filling the redemption form via email. I have never actually visited their office. Best place to park windfalls before deployment. As per todays newspaper(DN pg 41),Amana's yield yesterday was 10.07% which is about 0.7% net p.m..did you negotiate the 1%?There are four other providers which are shown to have a better yield at least as per yesterday.
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Rank: Hello Joined: 11/14/2014 Posts: 3 Location: Nairobi
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The gains are NOT subject to WHT. For the 91 days lock period indicated, it means you cannot withdraw at all before 91 days. After 91 days, you can withdraw , but there are penalties of 3% if you withdraw in the first year, 2% if you withdraw in the second year and 1% if you withdraw in the last year. So basically its like your money is locked for 3 years! Last year their Growth and Balanced fund didnt perform well, but since January the rates have shot up! For their Shilling Fund , it may not be the best performing currently, but they have had the best returns in the past.
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Rank: Member Joined: 12/21/2009 Posts: 602
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I see... If you know them, let them know that this info needs to be part of the short description they provide to potential customers. Victorianjagi wrote:The gains are NOT subject to WHT. For the 91 days lock period indicated, it means you cannot withdraw at all before 91 days. After 91 days, you can withdraw , but there are penalties of 3% if you withdraw in the first year, 2% if you withdraw in the second year and 1% if you withdraw in the last year. So basically its like your money is locked for 3 years! Last year their Growth and Balanced fund didnt perform well, but since January the rates have shot up! For their Shilling Fund , it may not be the best performing currently, but they have had the best returns in the past.
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Rank: Member Joined: 12/21/2009 Posts: 602
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There is also the 2% fee..which in this case would be 0.16%/month which may seem inconsequential but can make a difference if you have a substantial amount of money. Sorry not feeling Amana (shrug). Chaka wrote:TheGeek wrote:butterflyke wrote:kaka2za wrote:I don't know about other funds but Amana Shilling Fund is the best in the market.
High interest rates ,timely updates and so easy to redeem. What are the rates you have enjoyed? Roughly 1% per month net. No redemption charge and funds are available within 2 days of filling the redemption form via email. I have never actually visited their office. Best place to park windfalls before deployment. As per todays newspaper(DN pg 41),Amana's yield yesterday was 10.07% which is about 0.7% net p.m..did you negotiate the 1%?There are four other providers which are shown to have a better yield at least as per yesterday.
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Rank: Elder Joined: 5/27/2008 Posts: 3,760
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Dahatre wrote:I see... If you know them, let them know that this info needs to be part of the short description they provide to potential customers. Victorianjagi wrote:The gains are NOT subject to WHT. For the 91 days lock period indicated, it means you cannot withdraw at all before 91 days. After 91 days, you can withdraw , but there are penalties of 3% if you withdraw in the first year, 2% if you withdraw in the second year and 1% if you withdraw in the last year. So basically its like your money is locked for 3 years! Last year their Growth and Balanced fund didnt perform well, but since January the rates have shot up! For their Shilling Fund , it may not be the best performing currently, but they have had the best returns in the past. Of course she knows them - she works there!!!!!😹
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Rank: Member Joined: 12/21/2009 Posts: 602
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Hao wengine ni akina nani? Chaka wrote:
As per todays newspaper(DN pg 41),Amana's yield yesterday was 10.07% which is about 0.7% net p.m..did you negotiate the 1%?There are four other providers which are shown to have a better yield at least as per yesterday.
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Rank: Elder Joined: 2/16/2007 Posts: 2,114
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Dahatre wrote:Hao wengine ni akina nani? Chaka wrote:
As per todays newspaper(DN pg 41),Amana's yield yesterday was 10.07% which is about 0.7% net p.m..did you negotiate the 1%?There are four other providers which are shown to have a better yield at least as per yesterday.
Since this thread is about Amana,may not be fair to name them here.You can check in the newspaper or search for money market threads in wazua,some are mentioned there..
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Rank: New-farer Joined: 7/12/2011 Posts: 57 Location: nairobi
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some companies post lower rate but that is net of management fee unlike others that post gross return,also something to be keen on is whether the interest is simple interest or compounded.
I work with one of the 'others' and for anyone who needs insights give your contacts.
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