A specially designed investment product that helps wealth accumulation through consistent investments
by investing a fixed amount every month in Mutual Funds
per month in one or more of the selected funds
and flexibility to change investment amount in a minimum of 24 months
Stand to gain higher returns as your average unit cost potentially decreases over time, with Dollar Cost Averaging.
Develops and builds savings culture and helps you start building wealth for the future.
Benefit from the power of compounding to grow a small amount of savings into a substantial amount over time.
If you would prefer your Relationship Manager to contact you please drop us an email or call our contact centre on +234 (0) 1 270 4611 – 4.
You can set-up a Regular Savings Plan via our Mobile Mutual Funds platform using a single account.
What You need to Do …
|Currently hold a Unit Trust Account with us
|Log-in to SC Mobile to start investing
|Currently hold a Domiciliary Account with us, and wish to apply for a Unit Trust Account
|Contact your Relationship Manager or visit the branch
|Do not currently hold a Current / Savings Account with us
Visit our branches
A Mutual Fund (also known as a Unit Trust) is made up of money pooled from multiple investors to purchase securities. It is managed by professional Investment Managers to meet an investment objective. Investors own units (or shares) which represent a part of the Mutual Fund’s portfolio holdings. Mutual Funds invest in stocks, bonds, or other securities according to each Fund’s objective. The Net Assets Value (NAV) is the price or value of one unit of a Fund
SC Mobile Mutual Fund is only available to account holders. You will be required to open a domiciliary account, obtain access to Online Banking, and complete your investment profile online before you can access Mobile Mutual Funds.
If you are a new client, before you start using the Online Mutual Funds platform, you need to have the following:
Step 1: Go to menu > click on “Investing” > select “Mutual Fund”
Step 2: If you are a new customer, you will be asked to complete a one-time Foreign Account Tax Compliance Act (FATCA) and Central Securities Depository Regulation (CSDR) declaration.
Step 3: Buy, sell, and track your Mutual Fund investments any time via Mobile Mutual Funds.
Invest in Mutual Funds that are suitable to you based on your risk tolerance, investment objective, experience, or knowledge. If you are choosing a Mutual Fund, you should take the time to read the Factsheet and Prospectus. For example, the Fund Factsheet will give you information on risk assessment, historical performance etc.
On the SC Mobile Mutual Fund platform via SC Mobile App anytime. Top Mutual Fund picks are reviewed on a regular basis and performance updates can be viewed.
While you can place investment orders via SC Mobile Mutual Fund platform anytime, the Bank will process the orders on business days only. We will process the order placed before the cut off from 3:00pm – 3:30pm, after which it would be processed on the next business day.
Typically, its takes about 24hours. The Bank will only proceed to debit your account for subscription request after the information satisfies all necessary requirements and upon receipt of cleared funds.
The minimum investment amount for Mutual Funds varies. The lump sum investment will require a minimum investment amount of $1,000. If you wish to invest through Wealth Builder in a consistent manner, you can start with as little as $100 every month.
Dividend payments: When a fund receives dividends or interest from the securities in its portfolio, it distributes a proportional amount of that income to its investors. When purchasing shares in a Mutual Fund, you can choose to receive your dividends directly, or have them reinvested in the Fund.
A sales commission is charged for each investments type; the Mutual Fund Lumpsum subscription fee is 3% of the investment amount (one-off charge), while for the Wealth Builder; the plan set up fee is equivalent to one month’s contribution. The Fund House will also charge an annual management fee (this is applied to the Fund portfolio and your settlement account will not be debited). Details of Fund annual management fee can be found in the Fund factsheet or Prospectus.
No, there is no functionality on the SC Mobile App for client to cancel an order. If order cancellation is required, client will need to request for order cancellation via paper application process and cancellations will be allowed of clients account has not been debited for subscription. Otherwise, redemption is the only option. If you have any query in relation to your order, please speak with a Relationship Manager or contact our 24-hour Contact Centre at +234 1 2704611-4. Toll Free number 0800 123 5000.
You can view status of your orders on ‘My Orders’ page with all pending orders being reflected under ‘Order Status’. Once, your order is reflected as ‘settled’ it would be shown in the ‘Transaction History’ page.
Please see below the various status descriptions you may see under ‘My Orders’:
a. In progress – This means your order has been received by the Bank and is pending update in trade status
b. Settled – This means your order is successfully accepted by the Bank
c. Rejected – Order has been rejected
d. Cancelled – Once an order is cancelled via paper application, the transaction status will reflect as ‘cancelled’ on the SC Mobile App.
No, for advice on Funds and other investments that may be suitable for you, please speak to a Relationship Manager in any of our branches. The Call Centre is only able to assist you with questions on the use of the SC Mobile Mutual Fund platform, but they are not able (or permitted) to advise you on the suitability of a Fund.
Joint account holders with mandate instruction ‘either to sign’ can access SC Mobile Mutual Fund platform. First time, joint account holders (with mandate instruction ‘either to sign’) will be required to use paper application for the first time to create their Joint investment account.
No, you can only sell the holding after your subscription order has been settled and reflected in your investment holdings.
Yes, you need to have sufficient funds before you can place a subscription order. Please note that for regulatory reasons, maximum utilization of FX cash deposits up to $5k per month will be allowed for investments in Mutual Funds. Please speak with a Relationship Manager for more information.
Contact our Client care centre
+234 01 2368657
(during office hours between 8:00am and 5:15pm Monday to Friday (excluding weekends and public holidays))
Call our hotline for further information.
(Toll free number)
01 2704611 – 4
(When dialing in Nigeria)
+234 1 2704611 – 4
(When dialing from overseas)
Visit the branch that is nearest to you.Find a Branch
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