The JSE and finance forum for South Africa
General Category => Shares => Topic started by: jonb on February 20, 2018, 10:18:36 pm
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Is anyone else not feeling great about TFSA results on the ETF route?
I have the sygnia world ETF and prop trax 10
With a blend of STX ind ... I have had full allocation since TFSA started
All in thirds
Apart from stxind it’s all been pretty weak especially since the rand has strengthened ( cons of an SA based offshore product! )
I wonder if anyone has had any experience with a managed lowish cost fund under TFSA that they the happy with ?
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Everything took a knock the last couple of weeks. This is the "risk appetite" part you've read about.
Ignore this, keep on investing and carry on.
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Just on the TFSA topic: I currently have a TFSA with a life company that charges me very high fees (realized it only after becoming less ignorant after having had it for two years). Can one transfer it to another platform (i.e Easyequities) like one can with an RA?
I understand it would have been possible but the implementation was delayed for another year.
I'd rather transfer it than withdraw it all , thereby not being able to replace the funds.
Anyone know of changes to this rule coming after the budget speech?
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Although anticipated it seems there is no change to the annual limit or being able to transfer to another fund (yet).
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I'm stuck on EE with mine. Another year came and went with no change. Will push future lump sums etc to another provider. It's the only way it seems.
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I'm stuck on EE with mine. Another year came and went with no change. Will push future lump sums etc to another provider. It's the only way it seems.
What's the issue with EE? I have both EE and ABSA. ABSA is marginally cheaper so I use that now, but the service from EE is miles better. ABSA couldn't help me with an account for my son, and I've been waiting 2 weeks now to be able to change banking details.
They just never respond, totally useless customer service. I imagine it's because the R33k at 0.2% transaction fees isn't actually worth their time.
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I'm stuck on EE with mine. Another year came and went with no change. Will push future lump sums etc to another provider. It's the only way it seems.
EE is vastly superior to Absa. No problems with them ever and I now have moved all my investment & trading business to them
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I don't trust their platform. It feels like a very manual system with a "slick" UI ion top of it. Over the last three years I've had numerous issues like my total holdings not adding up, repeated incidents where extra charges are applied when buying ETFs and most recently they completely messed up a corporate action and wrongly credited accounts only to reverse it two months later.
It just feels like something is constantly going wrong. I'll keep my small share portfolio there but since the TFSA has grown to a sizable amount I'd like to move it.
Personal opinion. The developer in me is seeing red :p
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I'm stuck on EE with mine. Another year came and went with no change. Will push future lump sums etc to another provider. It's the only way it seems.
EE is vastly superior to Absa. No problems with them ever and I now have moved all my investment & trading business to them
There's no way they are superior to ABSA.
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Easy Equities is part of the Purple Group - it also has a company GT247 which was a trading platform. When I went on retirement in 2005 I used to read a daily bulletin board (can't remember the name right now) and the people commenting on this board were all traders from around the globe - they operated in London, SA, Hong Kong, Canada, Australia, America. They absolutely castigated GT247 for poor administration, fouling up orders and unwarranted charges. Some were quite acerbic in their criticism of the company and its head honcho - Mark Barnes who is still chairman and is now the CEO of SAPO and has gone on record to say that he will fix this operation.
So given my knowledge and the history around GT247 I will never consider Easy Equities as a platform
My opinion
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Mark Barnes who is still chairman and is now the CEO of SAPO and has gone on record to say that he will fix this operation.
Any relation to Carly Barnes (purple hair)?
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I don't trust their platform. It feels like a very manual system with a "slick" UI ion top of it. Over the last three years I've had numerous issues like my total holdings not adding up, repeated incidents where extra charges are applied when buying ETFs and most recently they completely messed up a corporate action and wrongly credited accounts only to reverse it two months later.
It just feels like something is constantly going wrong. I'll keep my small share portfolio there but since the TFSA has grown to a sizable amount I'd like to move it.
Personal opinion. The developer in me is seeing red :p
I have had similar experiences and share your concern here, interested to hear where you would move the TFSA to ?
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I have had similar experiences and share your concern here, interested to hear where you would move the TFSA to?
Sent from my iPhone using Tapatalk
If I was to stick with ETFs I would move it to ABSA. If I was to move to unit trusts it would probably be Allan Gray or maybe Sygnia but I haven't thought it through yet.
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I don't trust their platform. It feels like a very manual system with a "slick" UI ion top of it. Over the last three years I've had numerous issues like my total holdings not adding up, repeated incidents where extra charges are applied when buying ETFs and most recently they completely messed up a corporate action and wrongly credited accounts only to reverse it two months later.
It just feels like something is constantly going wrong. I'll keep my small share portfolio there but since the TFSA has grown to a sizable amount I'd like to move it.
Personal opinion. The developer in me is seeing red :p
I already run a share portfolio with the bank I worked for, so I asked them to open a second portfolio account for me and all my TFSA transactions are conducted over this account without interference with my main portfolio which is subject to CGT and other taxes so have kept them apart for so that there are no disputes with SARS now or in the future as and when they changes the rules around TFSA. Also by keeping them as separate entities I can trade over the TFSA (if I wanted to) without being restricted to hold the instruments for 3 years which I am compelled to on my main portfolio if I don't want to be classified as a trader
I have had similar experiences and share your concern here, interested to hear where you would move the TFSA to ?
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TFSA...let's hope(https://uploads.tapatalk-cdn.com/20180224/f3431723d2bf04ff1986fd501187524e.jpg)
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I have had similar experiences and share your concern here, interested to hear where you would move the TFSA to?
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If I was to stick with ETFs I would move it to ABSA. If I was to move to unit trusts it would probably be Allan Gray or maybe Sygnia but I haven't thought it through yet.
To add to this, Coronation's Balanced Plus fun doesn't look bad either. Only 20% odd offshore exposure so maybe worth supplementing it with a global fund.
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If I was to stick with ETFs I would move it to ABSA. If I was to move to unit trusts it would probably be Allan Gray or maybe Sygnia but I haven't thought it through yet.
[/quote]To add to this, Coronation's Balanced Plus fun doesn't look bad either. Only 20% odd offshore exposure so maybe worth supplementing it with a global fund.
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@hamster , so this is actually the discussion I was after! Originally I thought ETF easy peasy go a little local with prop trax and do a global world etf and sit tight .. but in 3/4 years it’s about flat!
The TFSA unit trusts from Coronation for example are lowish costs and blend some with a stable fund which in past consistently gives 8/9% and something balanced ... might be better off ? The uptick in SA once right now and stronger rand are all elements which could be managed where as ETFs just Take the pain
Maybe it’s better 50/50 ? Like a global world ETF and then a unit trust ?
Was asking you as I always remember having a similar view on TFSA allocation. Wanted to see if your thoughts had changed
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Maybe it’s better 50/50 ? Like a global world ETF and then a unit trust ?
Was asking you as I always remember having a similar view on TFSA allocation. Wanted to see if your thoughts had changed
Personally not keen on splitting it up. My view is to keep it simple (i.e. Platinum Wealth TFSA Basket :whistle:) and I don't think it gets simpler than a unit trust.
ABSA doesn't allow debit orders with auto invest functionality so you have to log into it every month. CoreShares, Sygnia etc. all allow it but... I dunno.
Unit trust please :D
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[/quote]
Personally not keen on splitting it up. My view is to keep it simple (i.e. Platinum Wealth TFSA Basket :whistle:) and I don't think it gets simpler than a unit trust.
ABSA doesn't allow debit orders with auto invest functionality so you have to log into it every month. CoreShares, Sygnia etc. all allow it but... I dunno.
Unit trust please :D
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The platinum basket looks good and EE debit is easy enough
Question on the baskets I have never got on EE, you pay the investment fee and then a basket fee every month right ?
What is TER overall ?
And again I am assuming it’s just for ease as one could buy those stock individually monthly but basket just for convenience right?
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Well, I buy them individually (it was modelled after mine). Never used a basket myself. On EE it's easy enough to maintain it via debit orders.
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Good news
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Any relation to Carly Barnes (purple hair)?
Yes, I believe Carly is the daughter of Mark Barnes. You can see some interesting transaction in their annual report or SENSE reports for directors dealings.
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Easy Equities is part of the Purple Group - it also has a company GT247 which was a trading platform. When I went on retirement in 2005 I used to read a daily bulletin board (can't remember the name right now) and the people commenting on this board were all traders from around the globe - they operated in London, SA, Hong Kong, Canada, Australia, America. They absolutely castigated GT247 for poor administration, fouling up orders and unwarranted charges. Some were quite acerbic in their criticism of the company and its head honcho - Mark Barnes who is still chairman and is now the CEO of SAPO and has gone on record to say that he will fix this operation.My opinion
How does your experience after 2005 relate to this Noseweek investigation on GT247 (http://www.noseweek.co.za/article/3041/Global-Trader-more-lies-and-deception)?
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Easy Equities is part of the Purple Group - it also has a company GT247 which was a trading platform. When I went on retirement in 2005 I used to read a daily bulletin board (can't remember the name right now) and the people commenting on this board were all traders from around the globe - they operated in London, SA, Hong Kong, Canada, Australia, America. They absolutely castigated GT247 for poor administration, fouling up orders and unwarranted charges. Some were quite acerbic in their criticism of the company and its head honcho - Mark Barnes who is still chairman and is now the CEO of SAPO and has gone on record to say that he will fix this operation.My opinion
How does your experience after 2005 relate to this Noseweek investigation on GT247 (http://www.noseweek.co.za/article/3041/Global-Trader-more-lies-and-deception)?
Never dealt with GT247 - merely relating comments related to circa 2005 - was sufficient for me to steer away from the company
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You can now transfer your tax-free savings
https://www.iol.co.za/personal-finance/you-can-now-transfer-your-tax-free-savings-13578198
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I currently have about 100k in my TFSA - if I transfer it to another broker (i.e with EasyEquities with which I am familiar), how does the 33k per year contribution limit come into play?
Does to 100k go into my TFSA available funds like an EFT and can I then pick ETF's up to the 100k mark in one go (and then contribute my 33k this year over and above that)?
Thanks in advance!
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I see from 10/4 you will be able to buy STXNDQ which will have a Nasdaq as a basis - will wait a few days to see how its price tracks and if ok will put some in my TFSA account
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I currently have about 100k in my TFSA - if I transfer it to another broker (i.e with EasyEquities with which I am familiar), how does the 33k per year contribution limit come into play?
Does to 100k go into my TFSA available funds like an EFT and can I then pick ETF's up to the 100k mark in one go (and then contribute my 33k this year over and above that)?
Thanks in advance!
Yes, you're 100% correct, you can move it to EE for eg and then buy ETFs with all the value. If everything you added into it was done before 1 March then you can add another R33k for this year.