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CIC Money market fund
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S.Mutaga III
#1 Posted : Monday, January 20, 2014 8:40:43 PM
Rank: Member


Joined: 3/26/2012
Posts: 830
Hello wazuans. Anyone with experience with the CIC Money market fund? How soon do you get your cash if you opt to take your cash from the fund? I saw it has among the best returns, but are there hidden charges? Do they give you the choice to reinvest your monthly earnings like old mutual? Any insight will be highly appreciated especially from a subscriber of the cic money market fund
A successful man is not he who gets the best, it is he who makes the best from what he gets.
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anika66
#2 Posted : Tuesday, January 21, 2014 12:35:40 PM
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Joined: 2/25/2010
Posts: 158
I have used CIC money market fund to pack my excess money and they are very good. If you want to withdraw they send the money to yoru account within 3 to five days. The rate shown is the net after they deduct all their expenses. So if they say 9%, thats what you will get. You need to difference between money market fund and unit trusts, the later is the one with hidden charges.
Keeping it all in the family
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Angelica _ann
#3 Posted : Tuesday, January 21, 2014 12:44:10 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,908
I have been using AA since 2005 for any excess fund. Rate is not the best but ok. I like their customer service and withdrawal takes 2 days - through Citigroup.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Ebenyo
#4 Posted : Sunday, April 09, 2017 11:08:54 AM
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Joined: 4/4/2016
Posts: 1,997
Location: Kitale
anyone who is in it currently?
Towards the goal of financial freedom
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Ebenyo
#5 Posted : Sunday, April 09, 2017 11:14:15 AM
Rank: Veteran


Joined: 4/4/2016
Posts: 1,997
Location: Kitale
S.Mutaga III wrote:
Hello wazuans. Anyone with experience with the CIC Money market fund? How soon do you get your cash if you opt to take your cash from the fund? I saw it has among the best returns, but are there hidden charges? Do they give you the choice to reinvest your monthly earnings like old mutual? Any insight will be highly appreciated especially from a subscriber of the cic money market fund



Towards the goal of financial freedom
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Impunity
#6 Posted : Sunday, April 09, 2017 1:44:40 PM
Rank: Elder


Joined: 3/2/2009
Posts: 26,328
Location: Masada
Angelica _ann wrote:
I have been using AA since 2005 for any excess fund. Rate is not the best but ok. I like their customer service and withdrawal takes 2 days - through Citigroup.


AA is Amana Fund?
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Chaka
#7 Posted : Sunday, April 09, 2017 3:06:50 PM
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Joined: 2/16/2007
Posts: 2,114
African Alliance?
Impunity wrote:
Angelica _ann wrote:
I have been using AA since 2005 for any excess fund. Rate is not the best but ok. I like their customer service and withdrawal takes 2 days - through Citigroup.


AA is Amana Fund?
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Angelica _ann
#8 Posted : Sunday, April 09, 2017 6:38:59 PM
Rank: Elder


Joined: 12/7/2012
Posts: 11,908
Chaka wrote:
African Alliance?
Impunity wrote:
Angelica _ann wrote:
I have been using AA since 2005 for any excess fund. Rate is not the best but ok. I like their customer service and withdrawal takes 2 days - through Citigroup.


AA is Amana Fund?



Africa Alliance, yap. That was then though @maka has roped me into IFBs of late.
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Bachuma Gate
#9 Posted : Sunday, April 09, 2017 7:39:08 PM
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Joined: 3/26/2012
Posts: 280
@Mutaga Been running 3 separate accounts with them since 2015. I have not complaints so far. Interest is paid monthly and compounded.

Withdraws hit my account with 2 days since I bank with coop their banker.

You can topup as little as 1k.

You get statement monthly electronically.

They charge 1000/- for a subsequent withdrawal within the month.

Interedt rate is +TB rate most times.
DOH
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Bachuma Gate
#10 Posted : Sunday, April 09, 2017 7:41:05 PM
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Joined: 3/26/2012
Posts: 280
I transact via email but they send SMS to your phone and they do callbacks.
DOH
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Chaka
#11 Posted : Monday, April 10, 2017 11:12:49 AM
Rank: Elder


Joined: 2/16/2007
Posts: 2,114
Angelica _ann wrote:
Chaka wrote:
African Alliance?
Impunity wrote:
Angelica _ann wrote:
I have been using AA since 2005 for any excess fund. Rate is not the best but ok. I like their customer service and withdrawal takes 2 days - through Citigroup.


AA is Amana Fund?



Africa Alliance, yap. That was then though @maka has roped me into IFBs of late.


What's the return like at AA for the month of feb?According to my statements from CIC and Sanlam,the net return is 9.01% and 8.04% respectively,ie 10.6% and 9.46% gross...are there better places to park cash apart from M-Akiba,IFB,Cytonn?
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maka
#12 Posted : Monday, April 10, 2017 11:20:32 AM
Rank: Elder


Joined: 4/22/2010
Posts: 11,522
Location: Nairobi
Chaka wrote:
Angelica _ann wrote:
Chaka wrote:
African Alliance?
Impunity wrote:
Angelica _ann wrote:
I have been using AA since 2005 for any excess fund. Rate is not the best but ok. I like their customer service and withdrawal takes 2 days - through Citigroup.


AA is Amana Fund?



Africa Alliance, yap. That was then though @maka has roped me into IFBs of late.


What's the return like at AA for the month of feb?According to my statements from CIC and Sanlam,the net return is 9.01% and 8.04% respectively,ie 10.6% and 9.46% gross...are there better places to park cash apart from M-Akiba,IFB,Cytonn?


Those are the best...in terms of returns and safety.Nikubaya.
possunt quia posse videntur
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Chaka
#13 Posted : Monday, April 10, 2017 6:02:42 PM
Rank: Elder


Joined: 2/16/2007
Posts: 2,114
maka wrote:

Those are the best...in terms of returns and safety.Nikubaya.

Have seen elsewhere that Britam's Wealth Management thing is giving 11% for 3 months..a one month investment is not on offer.
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Ebenyo
#14 Posted : Tuesday, April 11, 2017 5:33:00 AM
Rank: Veteran


Joined: 4/4/2016
Posts: 1,997
Location: Kitale
Bachuma Gate wrote:
@Mutaga Been running 3 separate accounts with them since 2015. I have not complaints so far. Interest is paid monthly and compounded.

Withdraws hit my account with 2 days since I bank with coop their banker.

You can topup as little as 1k.

You get statement monthly electronically.

They charge 1000/- for a subsequent withdrawal within the month.

Interedt rate is +TB rate most times.


is withdrawals allowed only once a month? what about charges?
Towards the goal of financial freedom
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