Ou grote
Honorary Master
Their benchmarks.
It's not possible to beat them.
I see plenty of research where I work, tx.
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Satrix - people still using them?
- Thread starter xrapidx
- Start date
Their benchmarks.
It's not possible to beat them.
I see plenty of research where I work, tx.
at the end of the day it doesn't really matter which company you choose from those recommended in the thread... as long as its not into beer on weekends with buddies
So take your pic & start investing
So take your pic & start investing
Ou grote
Honorary Master
at the end of the day it doesn't really matter which company you choose from those recommended in the thread... as long as its not into beer on weekends with buddies
So take your pic & start investing
True, but its useful to know what you're investing in.
It makes more sense than investing in RA's.
I regret ever opening one.
After stopping monthly payinments on mine I'm paying monthly penalties and fees for crappy performance.
Not a hell of a lot I can do about it.
I believe I was just tricked into signing an RA contract this weekend... fortunately, it sounded suspect so I'm going to cancel it.
My other RA is unit trust based, so no penalty fee's.
It made me realise just how good the ABSA broker was, unfortunately he worked for ABSA
I explained my situation to him, that I'm a contractor, need the ability to adjust payments, etc.. and he suggested the unit trust based RA.Now when I met with FNB - they did the contract based RA... and where quite adamant that there was no such thing as an RA where you can just stop paying and not have penalty fee's etc, I asked about five times if they were sure because I haven't been charged anything on my ABSA RA...and they kept saying that its impossible, yesterdays researching had me figure it out. I have often had months where I couldn't contribute to my ABSA RA - and it never affected me negatively, I just sent them a mail, signed a form, and skipped payments.. if I did this with the FNB one - I'd pay penalties... if I decided to stop, I'd loose up to 15% of the RA.
Left quite a sour taste in my mouth as it means FNB had their 'commission' interests ahead of my personal interests.
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Ou grote
Honorary Master
I believe I was just tricked into signing an RA contract this weekend... fortunately, it sounded suspect so I'm going to cancel it.
My other RA is unit trust based, so no penalty fee's.
It made me realise just how good the ABSA broker was, unfortunately he worked for ABSA
Now when I met with FNB - they did the contract based RA... and where quite adamant that there was no such thing as an RA where you can just stop paying and not have penalty fee's etc, I asked about five times if they were sure because I haven't been charged anything on my ABSA RA...and they kept saying that its impossible, yesterdays researching had me figure it out. I have often had months where I couldn't contribute to my ABSA RA - and it never affected me negatively, I just sent them a mail, signed a form, and skipped payments.. if I did this with the FNB one - I'd pay penalties... if I decided to stop, I'd loose up to 15% of the RA.
Left quite a sour taste in my mouth as it means FNB had their 'commission' interests ahead of my personal interests.
Mine is only on about R18000, it was nice to have the tax benefit, but the fees are ridiculous.
I would've earned more if I just put the money in the actual unit trust that the fund invests in myself without using an advisor.
Yeh - the fee's on the ABSA one were quite steep, between 5-7% of the monthly contribution. ABSA one is around R70,000 - which is roughly what I put in.
Haven't seen the documentation on this new one - but signing a 30 year contract is something I'd never willingly do - thankfully, I figured it out before contributing anything. Apparently brokers push these as they get a much higher commission.
Ockie
Resident Lead Bender
@ xrapidx....did you ever open this Satrix account? My sister told me about this tonight. She heard about it from a guy at work and he loves it apparently. It helped him pay for a engagement ring nogal. I am considering taking a bit of money out of my nest egg and then just putting it into a Divi Account. Are you happy with Satrix?
HavocXphere
Honorary Master
Don't expect miracles. Satrix is one of those slow & steady does it kind of investments.
F
Fudzy
Guest
I got tired of their prehistoric communication methods so I moved all my funds into another investment bundle through my bank, FNB.
I had this discussion with our actuaries...
Based on their advice I would go with Allan Gray for my RA. Mostly because you can move the fund without penalty fees. You can change the fund without penalty fees. You can stop payment without penalty fees. With any life company or bank you'll almost assuredly pay fees for anything.
You also rightly posted that their growth is very high. And everything can be managed on the internet.
You won't be able to get a 100% RA equity fund (not anywhere in SA), but IIRC their balanced RA is 75% equity (maximum allowed per regulation 28) and 25% foreign investment.
Based on their advice I would go with Allan Gray for my RA. Mostly because you can move the fund without penalty fees. You can change the fund without penalty fees. You can stop payment without penalty fees. With any life company or bank you'll almost assuredly pay fees for anything.
You also rightly posted that their growth is very high. And everything can be managed on the internet.
You won't be able to get a 100% RA equity fund (not anywhere in SA), but IIRC their balanced RA is 75% equity (maximum allowed per regulation 28) and 25% foreign investment.
supersunbird
Honorary Master
I love my Satrix Divi. Nice increase in value and dividends paid out (and reinvested of course). And if prices drop i just consider that i'm getting to buy more because they are cheaper, in it for the long term.
Will be getting a Allan Gray RA next year.
Will be getting a Allan Gray RA next year.
How about my initial 3 and Allan Gray Equity fund
I did this effective yesterday
So far its been ok - no snags - I'll check over the weekend and post my stats (fee's/performance/etc) for the last 9 months for the three funds I chose.
How so?
I think the difference is one being unit trust based (no penalty fees), see this post: http://mybroadband.co.za/vb/showthr...l-using-them?p=7226487&viewfull=1#post7226487
Ockie
Resident Lead Bender
Do you know if it is possible to then take my existing RA and move it over to these guys?
Not without penalty if its not unit trust based.
Ockie
Resident Lead Bender
Urg. I will give them a call and see how this works. I really suck at this kind of thing. Dont even know what unit trust is. I was shocked when I saw What I have in my RA from Liberty when they gave me my statement. I either have to win the lotto or go straight and have children NOW so they can look after me in my old age :-(.
I thought I was being responsible by opening my RA when I was like 20 and could afford to put a little away in a RA every month. When I saw that statement and saw how little it came to my heart broke.
RustyPrincess
Expert Member
This year I started an RA with Allan Gray, as well as have a monthly debit order for Satrix - (Top40, DIVI, INDI).
Chose both, mainly due to fees, and the ability to do it yourself without a financial advisor
Chose both, mainly due to fees, and the ability to do it yourself without a financial advisor
If its liberty - you're stuck - I think you'll even get hit with a penalty if you try and reduce the payments.
I'm also new at this, so been doing a lot of reading. (trying to find the article that explained the differences, and benefits of each nicely).
Ockie
Resident Lead Bender
Urg...just spoke to them. She said if I want to do a section 14 out (basically the RA funds gets moved to Allan Gray RA), then there will be penalties...but cant tell me how much. She needs to get a quote from who ever and will call me within 24 - 48 hours with the amount. Fck..there is so little in that RA and now gonna have to give some of that up in penalties also! CRAP! No wonder people are strugling to fcking SAVE!!!!!!!!!!!!!
Ou grote
Honorary Master
If you've already been paying for a few years then most of the fees should be paid off - the ones that go to your advisor.
You may just want to continue paying the minimum monthly fee and avoid penalties.
Then start a 2nd one somewhere else.