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Chocolate Finance and Money Market Funds
Hi all, I have been getting negative returns on my investment above $20K in Chocolate Finance (CF) for the several days since 19 Oct 2024. Of the past 6 days, 3 days has seen negative returns, 2 days has seen zero returns and 1 days has seen positive returns for investments above $20K. Is anyone here experiencing the same thing?
I reached out to them and they told me the market volatility is affecting my returns and advised me to stay invested. This is the first time since I started investing with them a year ago, that I have seen such negative returns. On the app, there is a balancing amount to show how much CF has made or loss from our investment, mines was almost negative $300 (meaning CF made $300 from my investment) a month ago. Now, it is positive $30 (meaning CF lost $30 from my investment. CF is supposed to pay us before they take any fees so I thought I would still have some buffer from the volatility, meaning they would pay me from this balancing amount first. I am only up $100+ this month so I dunno where this balancing amount went.
Did the money market market funds really lose such a big percentage in a month's time? Any advice on where yall are parking your money?
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The short answer is yes you can lose your capital easily on chocolate finance. Also, chocolate finance is NOT really a MMF.
Just put below 20 k in chocolate finance if you cannot stomach the loss. It is always better to stay safe.
Personally, I withdrew all my money in Chocolate Finance and deposit in my HSBC EGA for the deposit promo.
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I think there will be slight fluctuation for money market fund but should be up in the medium to long term.
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Noted. Will avoid Chocolate Finance
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- MMF is a kind of unit trust....
- u can actually just buy it yourself, why go through a "middle ma...
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Before 1 Nov, chocolate finance has already said they only guaranteed first 20K and that anything above is just not guaranteed. 1 Nov onwards, they lower the %interest but Increase the guaranteed portion to first 50K.
Before 1 Nov, there was two times that there was negative returns above 20K but overall net, I still see profit above the 20K. I don't really get what you mean by "On the app, there is a balancing amount to show how much CF has made or loss from our investment, mines was almost negative $300 (meaning CF made $300 from my investment) a month ago"
Did you ever withdraw your money before? if so, there might be fluctuations & CF is not just buying into MMF, I think there's some short duration bonds.
I think CF works likeSta