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Absa closes its money market unit trust for good – here’s what that means

12 April 2021 6:18 PM
Tags:
The Money Show
Bruce Whitfield
Absa
Personal finance
investing
investments
Kokkie Kooyman
Denker
Absa money market
Absa money market unit trust

The Money Show’s Bruce Whitfield asks Denker Portfolio Manager Kokkie Kooyman what it means for the industry.

Click here for all our "personal finance" articles in one place.


Absa is ending its 25-year-old money market unit trust because, it says, many investors mistakenly believe it guarantees returns.

Investments will be paid out or they can reinvest into another fund by 1 July 2021.

Absa is shutting down its wildly popular money market unit trust because many investors have the wrong idea about it. © wirestock/123rf

RELATED: 4.8 million South Africans have unclaimed benefits worth R42 billion - Liberty


The Money Show’s Bruce Whitfield interviewed Kokkie Kooyman, a Portfolio Manager at Denker.

Standard Bank renamed their money market…

Kokkie Kooyman, Portfolio Manager - Denker

Interest rates have dropped considerably… They’re saying to clients to rather move their money to a savings account… It’s simply the pressure of lower interest rates on the fee…

Kokkie Kooyman, Portfolio Manager - Denker

Listen to the interview and a statement by Absa in the audio below.




12 April 2021 6:18 PM
Tags:
The Money Show
Bruce Whitfield
Absa
Personal finance
investing
investments
Kokkie Kooyman
Denker
Absa money market
Absa money market unit trust

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