How to Buy Mutual Funds Without a Broker in Nigeria

If you’re an online investor, you may be bothered about getting a broker if you’re thinking about buying Mutual funds. Or, you could possibly hate limiting yourself to the transaction-free mutual funds to avoid a brokerage charging you high commissions on other mutual funds out there.

There’s a chance you’re a candidate for getting shares from the mutual fund companies. You can save money because mutual fund companies typically don’t charge commissions, although those that claim to be the best mutual funds will definitely want to steal your money.

In case you’re thinking about buying a fund that isn’t one of several transaction-free choices using a broker, it’s best to buy directly from the fund company to prevent paying commissions. It is highly recommended if you plan to periodically make small investments, which may ring up hefty fees if you use a broker.

To purchase mutual funds from the mutual fund company, you have to set up a merchant account, which you’ll want to do pretty fast online. After you determine which fund you would like to buy, just go to the fund company’s website and click on a link that is usually labeled “Open an Account”.

Next, you have to answer exactly the same questions needed to open an internet brokerage account, including your address and type of account (individual or joint).

You should also tell the mutual fund company whether you want dividends deposited to your account or used to buy additional shares of the fund. You can complete the application form online within 20 minutes or print it and mail it in.

Most mutual fund companies offer automatic investment plan (AIP) programs. Should you enroll in an AIP, the fund company automatically takes money out of your bank savings or checking account each month. It is a good way to make sure that you are regularly saving money. Some funds even let you start with a small amount of investment if you join the AIP.

Below, you will find the list of Top Mutual fund companies in Nigeria.

  • Stanbic IBTC Asset Mgt. Limited
  • FBN Capital Limited
  • Asset & Resources Mgt. Co. Ltd
  • Alternative Cap. Partners Ltd
  • UBA Asset Management Limited
  • Investment One
  • Zenith Capital Limited
  • FSDH Asset Management Ltd
  • Chapel Hill Denham Group
  • Sterling Capital Market Limited

Do you have anything to add to this article? Let us know in the comments below.

One Response

  1. adesoji adedapo December 3, 2016

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