Satrix RA

I have been waiting for years to see the Satrix RA offering.
So at last we have it, and what a huge disappointment it is:

Costs (VAT included):
Annual service fee -Satrix 0.285%
Annual admin fee - Glacier 0.57%
Annual fund management fee Satrix Balanced Index fund 0.684%

Total 1.539% pa

Compare that to Sygnia whose similar product will cost 0.4% pa

To illustrate the effect of the 1.139% pa cost difference, a 40 year investment (typical retirement accumulation period) earning 10% pa before costs will end up buying you 36% more retirement income with Sygnia's costs over Satrix's costs.
Put another way, more than a third of your potential retirement savings will go towards Sanlam's (Satrix's owner) shareholders. That is if you are a direct customer. If you use a broker, you will have to sacrifice another sizeable chunk towards their costs.

Clearly Sanlam has not changed one bit - still relentlessly exploiting investors.
 
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