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where to keep funds for buying shares
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heri
#1 Posted : Tuesday, September 01, 2015 2:42:50 PM
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Location: nairobi
Just realised my bank that used to pay 5% interest on my bank balance reduced the interest rate to 1.5%

which money market can one keep funds that are intended for purchase of shares

these are funds which are to be utilised slowly as opportunity to buy crops up

Other than buying TBs are there banks offering good rates on deposits

when i was using African Alliance as my broker, i used to keep un-utilised funds in their money markets

I since moved to NIC securities and they do not have the same facilities

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nashx
#2 Posted : Tuesday, September 01, 2015 3:11:45 PM
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I would recommend Pan Africa Pesa+ However Amana, CIC AND Gencap Hela are good alternatives
Offering my personal finance knowledge for free
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heri
#3 Posted : Tuesday, September 01, 2015 3:21:52 PM
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nashx wrote:
I would recommend Pan Africa Pesa+ However Amana, CIC AND Gencap Hela are good alternatives


thanks. which has the best interest rates ? how much is the rate of interest say for Kshs 500K
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nashx
#4 Posted : Tuesday, September 01, 2015 5:28:55 PM
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Pan Africa has the best rate latest daily yield is at 14.69%
http://www.pan-africaassets.com/
Offering my personal finance knowledge for free
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Mukiri
#5 Posted : Wednesday, September 02, 2015 1:19:21 AM
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The market began becoming shaky when USD was 90. Now 103+

Proverbs 19:21
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Chaka
#6 Posted : Wednesday, September 02, 2015 11:00:27 AM
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nashx wrote:
Pan Africa has the best rate latest daily yield is at 14.69%
http://www.pan-africaassets.com/

Monday's daily rate as given in yesterday's DN,
CIC,14.97%
Pan African,14.11%
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Bachuma Gate
#7 Posted : Wednesday, September 02, 2015 5:34:39 PM
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Put 250k Panafican 250k CIC. Dont rely on rates in the press. They are not bidding. Call them.
DOH
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doubletap
#8 Posted : Wednesday, September 02, 2015 11:19:59 PM
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can someone explain the daily rate, do you make that daily or how does it work eg for 150k?
You have to learn the rules of the game. And then you have to play better than anyone else - Albert Einstein
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Chaka
#9 Posted : Thursday, September 03, 2015 7:54:58 AM
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doubletap wrote:
can someone explain the daily rate, do you make that daily or how does it work eg for 150k?

If the daily rate is given for e,g 12%,the return will be 0.12/365*150k=49.32
Applying WHT of 15%,the net earning will be 49.32*0.85=41.92,
Note that the earnings are compounded.
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heri
#10 Posted : Thursday, September 03, 2015 2:59:27 PM
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nashx wrote:
Pan Africa has the best rate latest daily yield is at 14.69%
http://www.pan-africaassets.com/


@nashx, thanks, i visited pan Africa. I hear they pay some small comission of you refer people to them. You should contact them to get your commission
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Chaka
#11 Posted : Thursday, September 03, 2015 4:55:59 PM
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heri wrote:
nashx wrote:
Pan Africa has the best rate latest daily yield is at 14.69%
http://www.pan-africaassets.com/


@nashx, thanks, i visited pan Africa. I hear they pay some small comission of you refer people to them. You should contact them to get your commission




Does Pan-African charge an adminstration fee?
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TheGeek
#12 Posted : Thursday, September 03, 2015 6:31:01 PM
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Chaka wrote:
nashx wrote:
Pan Africa has the best rate latest daily yield is at 14.69%
http://www.pan-africaassets.com/

Monday's daily rate as given in yesterday's DN,
CIC,14.97%
Pan African,14.11%

be wary of the following fine print
1. minimum period
2.gross vs net yield
3. admin fees
4. withdrawal process


piece of advice money for trading should be in your brokerage account. speed of execution is critical in these volatile times.

remember, every time you move money you loose some of it.

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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nashx
#13 Posted : Thursday, September 03, 2015 9:51:49 PM
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Location: Nairobi
heri wrote:
nashx wrote:
Pan Africa has the best rate latest daily yield is at 14.69%
http://www.pan-africaassets.com/


@nashx, thanks, i visited pan Africa. I hear they pay some small comission of you refer people to them. You should contact them to get your commission




I didn't know about any commission. But I'm sure it is not worth the hustle of going there. I think their money market fund is awesome though
Offering my personal finance knowledge for free
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nashx
#14 Posted : Thursday, September 03, 2015 9:53:59 PM
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Chaka wrote:
heri wrote:
nashx wrote:
Pan Africa has the best rate latest daily yield is at 14.69%
http://www.pan-africaassets.com/


@nashx, thanks, i visited pan Africa. I hear they pay some small comission of you refer people to them. You should contact them to get your commission




Does Pan-African charge an adminstration fee?


For the money market fund? ... nope
Offering my personal finance knowledge for free
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doubletap
#15 Posted : Thursday, September 03, 2015 10:05:50 PM
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heri wrote:

@nashx, thanks, i visited pan Africa. I hear they pay some small commission of you refer people to them. You should contact them to get your commission


So how good is the deal? What rate did you get and about the admin fees and is there a minimum time to invest? Did you buy unit trust? Which one?

@Chaka thanks for the quick lesson. One more question, the daily yield can go up or down right, is there a minimum? How would one calculate into the future?
You have to learn the rules of the game. And then you have to play better than anyone else - Albert Einstein
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heri
#16 Posted : Friday, September 04, 2015 9:57:34 AM
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Posts: 834
Location: nairobi
doubletap wrote:
heri wrote:

@nashx, thanks, i visited pan Africa. I hear they pay some small commission of you refer people to them. You should contact them to get your commission


So how good is the deal? What rate did you get and about the admin fees and is there a minimum time to invest? Did you buy unit trust? Which one?

@Chaka thanks for the quick lesson.


i bought pata+ money market fund

there is a fee of 1.2% per annum

they sent me their daily historical rates. highest has been 16.6% and lowest 10.5%
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heri
#17 Posted : Friday, September 04, 2015 10:02:31 AM
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Posts: 834
Location: nairobi
TheGeek wrote:
Chaka wrote:
nashx wrote:
Pan Africa has the best rate latest daily yield is at 14.69%
http://www.pan-africaassets.com/

Monday's daily rate as given in yesterday's DN,
CIC,14.97%
Pan African,14.11%

be wary of the following fine print
1. minimum period
2.gross vs net yield
3. admin fees
4. withdrawal process


piece of advice money for trading should be in your brokerage account. speed of execution is critical in these volatile times.

remember, every time you move money you loose some of it.



i used to keep cash with my brokers when i was using African Alliance since i could move the cash to money market fund and to stocks easily

when i moved to NIC securities, i did not get the same facilities

My bank was giving me 5% on the current account until they slashed to 1.5% hence the move to use pan africa money market funds

Yes there is a risk of delays in getting funds since they say once you want to access cash you have to give them 3 days

you can withdraw cash any time you want and but there is a charge of 500 if it is more than once per month. also a fee of 1.2% per annum is charged
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doubletap
#18 Posted : Friday, September 04, 2015 10:10:13 AM
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Location: Wherethewindblows
heri wrote:

i bought pata+ money market fund

there is a fee of 1.2% per annum

they sent me their daily historical rates. highest has been 16.6% and lowest 10.5%


This is compound interest no?
You have to learn the rules of the game. And then you have to play better than anyone else - Albert Einstein
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heri
#19 Posted : Friday, September 04, 2015 10:16:29 AM
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doubletap wrote:
heri wrote:

i bought pata+ money market fund

there is a fee of 1.2% per annum

they sent me their daily historical rates. highest has been 16.6% and lowest 10.5%


This is compound interest no?


compunded yes
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heri
#20 Posted : Friday, September 04, 2015 10:19:10 AM
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Location: nairobi
heri wrote:
doubletap wrote:
heri wrote:

i bought pata+ money market fund

there is a fee of 1.2% per annum

they sent me their daily historical rates. highest has been 16.6% and lowest 10.5%


This is compound interest no?


compunded yes


and sorry it is pesa+ money market fund
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