General Category > Shares
FNB Share Saver
Hamster:
So I opened a Share Saver account the other day just for the hell of it to see how it works etc, but I am considering pushing more funds in there.
To the financial n00b in me it looks like a "SATRIX with less paper work to get started". Anybody here got any opinions regarding this service? Is it possible to guess the % growth we can expect from it (surely there must be a similar product out there that can give a rough indication)?
Johan:
The top40 and midcap track their respective indexes.
midcap: http://dashboard.fin24.com/INDICES/_Ftse_jse_Mid_Cap_J201
top40: http://dashboard.fin24.com/INDICES/_Ftse_jse_Top_40_J200
Top 40 performance
1 Year 30338.56 4,025 13.27
2 Years 28576.27 5,788 20.25
3 Years 24886.74 9,477 38.08
5 Years 29255.55 5,108 17.46
midcap performance
1 Year 49319.91 7,005 14.20
2 Years 41847.76 14,478 34.60
3 Years 38021.55 18,304 48.14
5 Years 29957.38 26,368 88.02
To that you'd need to take off fees from FNB. Does the share saver tell you how you can split the amounts between the two. If you can leave the money for some time, the midcap is likely to outperform the top 40.
Hamster:
It does, somewhere. Will have to go find it.
But if I look at those figures it looks like a good place to put some money into (long term)
devan:
Hamster, can you provide more details about the costs involved??
Was also considering investing some cash in here, but not sure about the fees.
Have you looked at the standard bank option as well?? Does FNB work out better??
Hamster:
I didn't consider Standard Bank at all. I'm already an FNB client and it took me about clicks to open the account and arrange the money per month to be paid. I'll leave it like this for a while and probably increase the amount per month by quite a bit.
Costs:
0 - 250,000 = 0.4% pa plus VAT
* - 1,000,000 = 0.35% pa plus VAT
and 0.3% pa plus VAT after that
Brokerage fee is 0.1% plus VAT on 1st trading day of the month.
https://www.fnb.co.za/share-investing/share-saver.html
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