MyMoney Online, Make Money Mondays

Standardised investment fee comparison coming (no more hiding behind complexity)

(Click here for more personal finance articles.)

You will soon be able to compare the costs of various investment products in a simple, transparent and standardised way.

The savings industry relies on complexity to hide how much they’re charging.

Magda Wierzycka, Sygnia CEO

The Money Show’s Bruce Whitfield interviewed Michael Summerton, Convenor of the Effective Annual Cost Working Group at the Association for Savings and Investment South Africa (Asisa), for his "Make Money Mondays" feature.

Scroll down for quotes from the audio below.

In future it’ll be a whole lot easier to understand what you’re paying for.

Michael Summerton

The Total Expense Ratio looks back in history to see how much of your investment you’ve given away in charges.

Michael Summerton

For the first time you’ll be able to compare, for example, the cost of a unit trust with a living annuity.

Michael Summerton

From 1 June there’ll be a very simple table outlining your costs over one, three and five years.

Michael Summerton

By understanding costs you can understand what value you’re receiving.

Michael Summerton

Subscribe to our Business Wrap Newsletter


This article first appeared on 702 : Standardised investment fee comparison coming (no more hiding behind complexity)


Recommended

by NEWSROOM AI

CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
How to invest an extra R1000 (or so) per month

How to invest an extra R1000 (or so) per month

Have some spare cash to save and invest, but not sure how? Galileo Capital Financial Advisor Warren Ingram presents your options…

Why Sygnia’s Magda Wierzycka has SA’s fund managers shaking in their boots

Why Sygnia’s Magda Wierzycka has SA’s fund managers shaking in their boots

Fees matter. A lot. And you don’t get much lower than that of Magda Wierzycka’s Sygnia. Here’s how they do it…

How I manage to invest a third of my income (despite earning peanuts)

How I manage to invest a third of my income (despite earning peanuts)

I earn peanuts, yet I’m slowly (but surely!) on my way towards never having to work for money ever again in my life.

How investing a third of my salary every month is making me rich (and free!)

How investing a third of my salary every month is making me rich (and free!)

A supersaver explains how she managed to invest R2.6 million and turn it into a whopping R3.7 million.

Can’t (or won’t) buy to let? Don’t sweat; there’s a far more lucrative option

Can’t (or won’t) buy to let? Don’t sweat; there’s a far more lucrative option

Financial planner Claude Hannah compares the costs, risks and returns of property unit trusts to that of buy-to-let properties.

How to invest in multiple properties (even if you can’t get a home loan)

How to invest in multiple properties (even if you can’t get a home loan)

You don’t need much money (or a home loan) to invest in multiple properties. Enter “Property Unit Trusts”…

10 reasons why this is BY FAR the best way to save for retirement

10 reasons why this is BY FAR the best way to save for retirement

Is there a single best way to build your wealth so you can retire with dignity? Yes, there is, despite costs and limitations.

Popular articles
'Basetsana Kumalo explained to me that this was the worst week of her life'

'Basetsana Kumalo explained to me that this was the worst week of her life'

Social Media Law Expert, Emma Sadleir, says the Randburg court has issued a protection order for the Kumalo's.

A third Metrorail train goes up in flames in less than a month

A third Metrorail train goes up in flames in less than a month

Regional manager, Richard Walker, says there's an indication of arson in all three incidents but the motive is still not clear.

'Cyril Ramaphosa is the weakest president of the ANC since 1994' - analyst

'Cyril Ramaphosa is the weakest president of the ANC since 1994' - analyst

Political analyst Prince Mashele talks about the ANC NEC meeting contradicting messages stemming from this.

Max du Preez opens up about money (and losing everything on Vrye Weekblad)

Max du Preez opens up about money (and losing everything on Vrye Weekblad)

The Money Show’s Bruce Whitfield interviews the famed and fearless journalist about his money history, hopes and beliefs.

2 best companies on the JSE to invest in now (by Nefg Fund Managers)

2 best companies on the JSE to invest in now (by Nefg Fund Managers)

Not sure which shares to buy? Bruce Whitfield interviews Gerbrand Smit, Chief Investment Officer at Nefg Fund Managers.

Malema under fire after 'Indians are racist' comment

Malema under fire after 'Indians are racist' comment

SA Institute of Race Relations media head Micheal Morris says politicians must be cautious of such divisive statements they make.

[WATCH] Eusebius Mckaiser: I call BS on Malema's racism targeting Indians

[WATCH] Eusebius Mckaiser: I call BS on Malema's racism targeting Indians

Show host Eusebius McKaiser says EFF's leader Julius Malema's comments on Indians are grossly unacceptable and irresponsible.

Here's how to check your load shedding schedule in Cape Town

Here's how to check your load shedding schedule in Cape Town

Stage 1 load s​hedding has been declared nationally. The City of Cape Town has urged residents to take note of the schedules.

Man who dumped body of family dog in street demoted at top JHB law firm

Man who dumped body of family dog in street demoted at top JHB law firm

Media law guru Emma Sadleir warns employees online that there are many potential events that could bring a company into disrepute.