FNB Horizon Series - Unit Trust

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MrG

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Does anyone have any decent information about this fund?

I have only recently got my head around the whole ETF ordeal. Now trying to understand what makes a good unit trust.
 
A good unit trust is one where you easily understand the fees.

Not sure they exist but the one from 10x looks promising. Sygnia's site is too complicated for me but apparently good too.

Stanlib (which I use) has a wider array of unit trusts...but I really don't know how much they cost me. I need an actuary to go over the statements.
 
Yeah, the unit trust space has been more difficult for me to understand.
 
Hamster said:
A good unit trust is one where you easily understand the fees.

Not sure they exist but the one from 10x looks promising. Sygnia's site is too complicated for me but apparently good too.

Stanlib (which I use) has a wider array of unit trusts...but I really don't know how much they cost me. I need an actuary to go over the statements.
Click to expand...

Totally agree.

And these FNB Horizon Series funds are expensive in my view.
 
MrG said:
Thanks! I have decided to go with 10x.

Seems reasonable. https://www.10x.co.za/assets/downloads/Unit Trust Minimum Disclosure Document - April 2017.pdf
Click to expand...

I must say I like their weight limited Top 60 local equity methodology (even the giant Naspers is only 3.8% weight and that will get rebalanced to 3% of total fund value again at some stage soon).

A bit light on local property for my liking, but then again so are 99.9% of balanced funds.

Is this for investment outside of retirement savings? Then the Regulation 28 foreign limit is a bit of a downer.

If it was me and I had exhausted by EE TFSA contribution monthly limit (50% local/50% foreign), I would probably just invest with EasyEquities outside of the TFSA wrapper into coreshares ETFs (100% foreign, maybe 75% equity and 25% property), since most of my retirement savings is in local stuff (75%) and the TFSA would be balanced.
 
It is outside of retirement savings indeed.

I do agree with what you are saying above.

Would you use a unit trust under any circumstances?
 
So anybody got one of these unit trusts yet? Do they show up on your FNB Online Banking Site/App or is it separate?
 
Hamster said:
So anybody got one of these unit trusts yet? Do they show up on your FNB Online Banking Site/App or is it separate?
Click to expand...

Sorry to bring this up again, but I have the same question about whether it shows on your online banking/app?

Dankie!
 
Right - so a quick look at the Horizon series indicates that they are a series of a fund of funds...
So - it's basically a unit trust made up of unit trusts.

Which unit trusts? well - their info sheets are available at https://www.fnb.co.za/invest/growth...V77_tCh0c3ASiEAAYASAAEgKcC_D_BwE&gclsrc=aw.ds

lets look at one: https://www.fnb.co.za/downloads/unittrust/Growth_plus_fund.pdf

Right - so this is a collection of Asburton Unit Trusts...... Also in that brochure: Total Investment Charges 1.55%

Right - so you're paying FNB 1.55% to put together a fund of RMB (Ashburton is them) funds........
Ashburton - on their GLOBAL LEADERS EQUITY FUND - charge you "Total Investment Charges 1.84%".

So - that's 1.55% + 1.84% - for that holding.
It's slightly less on their 1200 EQUITY ETF - that's only .45% (reasonable for a tracker) with the charge of 1.55% added on...

In all - you're being nailed somewhere between 2%-3+% in fees by the RMB for your investments (note I only checked the first two items of the fund) - better make sure those ebucks are worth it!
 
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