Move RA

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ubercal

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Hi,

I currently have 2 RA's (1 with Coronation and 1 with Allan Gray).I want to move the funds from Coronation into the Allan Gray RA , as both RA's have very similar assest allocations.Has anybody done this before ?
 
I've moved my Stanlib RA to Allan Gray before. They moved it, but opened a second one running along side it for new deposits. Dunno why, I asked, they explained, sounded stupid but I carried on with life.

Anyway, to do it all you need to do is go to Allan Gray, tell them you want to transfer your RA and let is snowball from there.
 
Oh, and make sure you get a certificate confirming the instruction to give the tax man come filing season.
 
Hamster said:
I've moved my Stanlib RA to Allan Gray before. They moved it, but opened a second one running along side it for new deposits. Dunno why, I asked, they explained, sounded stupid but I carried on with life.

Anyway, to do it all you need to do is go to Allan Gray, tell them you want to transfer your RA and let is snowball from there.
Click to expand...

Ya i spoke to Allan Gray and gave the same type of explanation .. stupid if you ask me.I dont want them to open up another RA but to move the funds into the 1 RA.Anyway it looks like i will just keep the coronation RA.
 
ubercal said:
Ya i spoke to Allan Gray and gave the same type of explanation .. stupid if you ask me.I dont want them to open up another RA but to move the funds into the 1 RA.Anyway it looks like i will just keep the coronation RA.
Click to expand...

Makes no difference really (I think). As far as the portal and statements go there's always a total number for the two.
 
ubercal said:
Ya i spoke to Allan Gray and gave the same type of explanation .. stupid if you ask me.I dont want them to open up another RA but to move the funds into the 1 RA.Anyway it looks like i will just keep the coronation RA.
Click to expand...

I moved the other way, AG to Coro (because platform fees) in May. My current Coronation RA and the AG funds were combined into one RA.

I had sent the Retirement-Funds-Transfer-out-instruction to Coronation.

Then they required the following:

We require the following outstanding information/documents to proceed with the Additional Investment:
*Please sign the attached Letter to combine
*Please provide a Copy of instruction/Letter of intent sent to Allan Gray
*Estimated transfer value
Click to expand...

Whole process took about 2 weeks.
 
supersunbird said:
I moved the other way, AG to Coro (because platform fees) in May. My current Coronation RA and the AG funds were combined into one RA.

I had sent the Retirement-Funds-Transfer-out-instruction to Coronation.

Then they required the following:



Whole process took about 2 weeks.
Click to expand...

interesting ... When i compared the fees AG was actually cheaper.How did you compare the fees using TER , EAC or TIC
 
Just ask for a secrion 14 transfer, and they will send the documents for you.

If you want to compare Allan Gray with Coro you have to compare on Allan Gray's unit trust platform regarding management fees of the funds you are looking at. They both have different investment styles, mostly the same, e.g. Coro will have property exporsure while Allan Gray really don't like property so will have none to very very little in their funds.

The open platform of Allan Gray does have a fee of 0,23% but you then have options of other companies funds as well if you deciede to make a switch. But if you choose just an Allan Gray fund on the open platform you will still pay the 0,23% fee but the management fee of their fund is usually redused by it, so works out the same really.

I personally don't buy their reason for not combining the two, personally think it's a system limitation on their side.
 
supersunbird said:
The actual AG LISP platform fees. Not the internal fund fees.
Click to expand...

From my research the most accurate way to compare is to use the EAC of both funds.Allan gray comes out on top , think it was 1.71% (AG) to 1.74% (Coronation)
 
ubercal said:
was lack of real understanding when i took both of the RA's out.I thought i was diversifying.
Click to expand...
I made the same mistake then my cousin / relative who was an FA told me he will help me out taking minumum....

All my investments were in red he made me close everything and restart from scratch.
 
xrapidx said:
Why not have more than one? I have two with Allan Gray, one with Coronation, one with Investec - and one with Sygnia.
Click to expand...

i would think that if you have multiple ra's you would be paying admin fees to multiple fund managers , as well as having a 1 RA with alot more money in it will generate bigger compound interest.I may be wrong ?
 
ubercal said:
having a 1 RA with alot more money in it will generate bigger compound interest.I may be wrong ?
Click to expand...

15 x 1.1 x 1.1 = 18.15

vs

10 x 1.1 x 1.1 = 12.1
5 x 1.1 x 1.1 = 6.05
12.1 + 6.05 = 18.15
 
ubercal said:
i would think that if you have multiple ra's you would be paying admin fees to multiple fund managers , as well as having a 1 RA with alot more money in it will generate bigger compound interest.I may be wrong ?
Click to expand...

it is a % so it shouldnt matter?
 
Hamster said:
I've moved my Stanlib RA to Allan Gray before. They moved it, but opened a second one running along side it for new deposits. Dunno why, I asked, they explained, sounded stupid but I carried on with life.

Anyway, to do it all you need to do is go to Allan Gray, tell them you want to transfer your RA and let is snowball from there.
Click to expand...

Preservation fund.. basically like an RA except you cant directly add to it.
 
krycor said:
Preservation fund.. basically like an RA except you cant directly add to it.
Click to expand...

You can't move an RA to a preservation fund. You can move a pension fund though.

The reason they gave was something to do with tax and keeping track of it for SARS. Think it is AG specific.
 
ubercal said:
i would think that if you have multiple ra's you would be paying admin fees to multiple fund managers , as well as having a 1 RA with alot more money in it will generate bigger compound interest.I may be wrong ?
Click to expand...

Its a percentage - so no - it won't matter.

And considering the performance of some of my RAs - If that had been my "one" - I'd be in trouble.
 
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