What an exciting bit of news for a change. Just when everything else is going up, Allan Gray announce that as of 8 April 2013:
"Allan Gray will use the total aggregated balance across
all local platform investment accounts held in a client’s name to determine the
client’s annual administration fee. "
What this means is that as an Allan Gray client you will be charged a lower (That's right lower) annual administration fee if you have more than one local
platform investment account in your name (i.e. under your individual investor
number), and the total aggregated balance across your local platform investment
accounts exceeds R 1,500,000.00
There are no fees on Allan Gray
Funds, only on third party funds and the fee on the majority of them are 0.10%
p.a. after the rebate is taken into account.
Once the total amount
invested is in excess of R 2,500,000.00, you are actually paid rather than
charge a fee!
Now that is great news. Thank you Globafundi for this good news snippet.
No comments:
Post a Comment