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Amana Capital
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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