Sygnia (help wanted)

For any of you who invest in something beyond a RA ... as in direct ETF's (as an example) ... look at your cash funds.

Those must be "switched" by the invester as it aint happening by itself.

I saw now I have R10 000 in my cash funds ....

Just a note for you guys doing Sygnia
 
backstreetboy said:
Sygnia Skeleton Balanced fund is closed temporarily. Can't even tell me when it'll be open again. These clowns supposedly sent out an email about it that I've never received. Opening a 10x account now.
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What you mean closed.. I never received a mail either?
 
STORMERSFAN said:
What you mean closed.. I never received a mail either?
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Important update

In compliance with South African Reserve Bank (SARB) exchange control regulations, which limit offshore investment by unit trust companies at 45% of their retail assets, we are implementing a temporary closure of selected rand-denominated international unit trust funds, effective 1 September, 2023. This only applies to discretionary investments, which include Sygnia Direct Investments (SYGD) and Sygnia Tax Free Savings Accounts (SYGTFS).

Upcoming temporary closure
The following funds will close to new discretionary investments effective 14h00 on 1 September, 2023.

Where applicable, we have included the rand denominated foreign ETF alternatives, which will not be subject to any restrictions and offer offshore exposure similar to their unit trust counterparts.

• Sygnia 4th Industrial Revolution Global Equity Fund
ETF alternative available: Sygnia Itrix 4th Industrial Revolution Global Equity ETF

• Sygnia Skeleton International Equity Fund of Funds

• Sygnia Skeleton Worldwide Flexible Fund

• Sygnia Health Innovation Global Equity Fund
ETF alternative available: Sygnia Itrix Solactive Healthcare 150 ETF

Impact on existing investments
The deadline for new investment instructions for affected funds is 14h00, 1 September, 2023. No new investment instructions will be processed after this time. Existing phase-ins and debit orders, including any scheduled annual escalations, will proceed as usual. Increases to existing debit orders will not be permitted, though you can still reduce or cancel them at your discretion.

You will still be able to invest in the affected funds through non-discretionary products, such as retirement annuities, preservation funds, living annuities and investment policies. Existing investments in the affected funds through model portfolios can still be rebalanced according to the existing model allocation.

Reopening of funds
The date for reopening these funds is dependent on various factors, including fund performance and currency value. Rest assured that this is a temporary measure, and we will notify you as soon as conditions permit the reopening of these funds for discretionary investments.

Questions?
Should you have any queries or require further clarification, please contact our Client Contact Centre at 0860 794 642 (0860 SYGNIA) or at [email protected].

Best regards,
The Sygnia team
 
The notice isnt related to any regulation28 funds (so the skeleton balance 70 fund is excluded). Confirmed by Sygnia
 
Sygnia Swix is merged with Sygnia Top40.

Look if you have CASH in the Sygnia Swix account / or debit orders.

Adjust manually (just a note)
 
I see they're jacking up their fees with an annual admin fee on 1 April. I wonder if other LISPs will follow suit. Guess I'll wait and see.
 
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Reactions: 3WA
I just initiated the move of my RA from Ninety One to Sygnia earlier this week purely because of the fees. IIRC I was paying just over 1% p.a. plus a managing fee (deal negotiated between the advisor and my ex-employer).

I'm splitting the funds 50/50 between Sygnia Skeleton Balanced 40 & 70. Investment period 15 to 20 years.

Signed up to the Alchemy site in December. Instructions from Sygnia to Ninety One took 1 to 2 days from me sending application form and confirming a few details. Now just to wait on Ninety One. I also sent withdrawal forms to Ninety One.
 
marco79 said:
I just initiated the move of my RA from Ninety One to Sygnia earlier this week purely because of the fees. IIRC I was paying just over 1% p.a. plus a managing fee (deal negotiated between the advisor and my ex-employer).

I'm splitting the funds 50/50 between Sygnia Skeleton Balanced 40 & 70. Investment period 15 to 20 years.

Signed up to the Alchemy site in December. Instructions from Sygnia to Ninety One took 1 to 2 days from me sending application form and confirming a few details. Now just to wait on Ninety One. I also sent withdrawal forms to Ninety One.
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Welcome to the Sygnia club! You wont be disappointed at all
 
Is it better to take out a TFSA with sygnia or my bank..will be a period of 10 years..
 
STORMERSFAN said:
Is it better to take out a TFSA with sygnia or my bank..will be a period of 10 years..
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I prefer satrix.
The platform is nice looking and easy to use.

The fees are low.

They have both etf’s and index funds.

They are backed by sanlam, so they won’t be disappearing anytime soon.
 
Myne moons ago I was also a fool starting it with the bank. Then when clients started moving their investment, alot of banks started to drop monthly fees, but up'd their buying and selling costs.

If you want to have something within your control, go with EasyEquities
 
marco79 said:
I just initiated the move of my RA from Ninety One to Sygnia earlier this week purely because of the fees. IIRC I was paying just over 1% p.a. plus a managing fee (deal negotiated between the advisor and my ex-employer).

I'm splitting the funds 50/50 between Sygnia Skeleton Balanced 40 & 70. Investment period 15 to 20 years.

Signed up to the Alchemy site in December. Instructions from Sygnia to Ninety One took 1 to 2 days from me sending application form and confirming a few details. Now just to wait on Ninety One. I also sent withdrawal forms to Ninety One.
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Im planning on doing the same. Ninety One's fees are just mad.
 
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