Did you invest in a Naira or Dollar mutual fund, and are concerned you cannot see the money in your balance despite being debited? Take a moment to relax after confirming that you can see the record of the transaction in your plan. Here are a few things to note:
After payment, there is a fixed duration for it to get processed. It takes 24 to 48 hours to process the units for you after your payment is reflected. Remember that buying or selling something involves exchange of money for value, in this case, units.
For money market funds, it's usually less than 24 hours. However, for non-money market funds, funds that fall under the moderate and aggressive funds category, it takes maximum of 48 working hours.
The 24 to 48-hour duration to process the unit excludes weekends and public holidays.
An email was sent to you upon purchase of the fund that contains details of the duration.
If you buy or sell a fund after 3PM, it starts getting processed the next day. For example, if you buy or sell a fund at 4:07 PM on Tuesday, you will receive value for the fund by end of day on Thursday.
Feel free to chat with us if there's anything at all you need clarification on.