Hi guys
My girlfriend and I are relooking at our RA's with Liberty, we are juniors in this, please bear with this. My girlfriend has been paying R1200 toward her RA for the last 10 years, if I do the math, thats around R144000 cash, but looking at her investment statement, the total investment value is only R102 000, what i miss? The advisor says its long term but if you losing money over 10 years, that's a red light right?
We also started paying more attention to fees, her fees look ridiculously high compared to what I have seen on google.
1 year is 4.1%, 3 years is 4.1%, 5 years is 4.0, and term to maturity 30 years 4 months is 3.6% taken from EAC document.
My liberty ra has the same sort of view, I have been in it for 4 years, and my investment values is pretty much what I put in and my fees are also very high at 3.2%, I am assured however that this all looks good.
These are the funds we are invested in:
RA Allan Gray Balanced
RA LA Excel MM Mod
RA Coronation Balanced Plus
RA Excelsior MM Mod Aggressive
RA Coronation Capital Plus
RA Investec Managed
RA LA Excel CPI Plus
Do you guys think that I am panicking unnecessarily?
If not, how can I move away from Liberty, I am not sure what options there are and how to approach this because I don't feel Ican trust the advisors we currently have, I have been googling alot and am hoping to get more info here.
I was thinking of maybe moving to Sygnia and/or 10X, any other suggestions welcome.
From what I read on google, Coronation and Allan Gray should be fine to keep? but even so, i think i would rather manage that on my own to cut the fees. So am wondering how to get away from Liberty without losing more money as it seems.