Money Markets
Updated: 06-July-2020 Valid until: 10-July-2020
| Company | Product | Nominal Rate | Five-Year Rate on Maturity | Min Inv Amount | Initial Charges | Management Cost |
|---|---|---|---|---|---|---|
| Fedgroup | Secured Investment Fixed | 7.80% | 9.50% * | R 5 000 | 0.00% | 0.00% |
| Fedgroup | Secured Investment Variable | 8.10% | 9.95% ** | R 5 000 | 0.00% | 0.00% |
| Fedgroup | Tax-Free Option | 4.5% | Varies, based on investment term | R 500 | 0.00% | 0.00% |
| Company | Effect Rate | Initial charges | Min Inv Amount | Management cost |
|---|---|---|---|---|
| Cadiz | 9.620% | 0.000% | R 20,000 | 0.290% |
| Old Mutual Unit Trust | 8.850% | 0.000% | R 10,000 | 0.570% |
| Absa* | 6.050% | 0.400% | R 100,000 | 0.570% |
| Allan Gray | 5.560% | 0.000% | R 20,000 | 0.290% |
| SYmmETRY | 5.090% | 0.000% | R 10,000 | 0.570% |
| Nedbank | 5.050% | 0.000% | R 10,000 | 0.570% |
| Coronation | 5.010% | 0.000% | R 10,000 | 0.250% |
| Glacier | 4.900% | 0.000% | R 100,000 | 0.460% |
| Prudential | 4.650% | 0.000% | R 50,000 | 0.400% |
| PSG | 4.480% | 0.000% | R 25,000 | 0.570% |
Notes on Symmetry Money Market Fund : Applicable to LISP clients only.
Notes on Absa Money Market Fund : The maximum initial charge is 0.40% (incl. VAT) of consideration received and will include a maximum of 0.24% (incl. VAT) payable for commissions and incentives.
Notes on Nedbank Money Market: The rolling 7-day yield,as at Friday 3 July 2020 was 5.05% p.a. This is the average return over the past 7 days, annualised, and calculated as an effective rate for a one-year investment. The nominal return for July 2020 (the latest figure available) was 4.63 % p.a. These figures apply to all investments, irrespective of amount.They can now accept debit order with a minimum of R500 pm.
Notes on the Coronation Money Market Fund: The fund aims to obtain as high a level of current income as is consistent with capital preservation and liquidity. The fund's benchmark is the Alexander Forbes Short Term Fixed Interest (STeFI) Benchmark. Management fees of 0.25 % excluding VAT are calculated on an annual basis.
Notes on the Allan Gray Money Market Fund: A maximum initial charge of 3.42% (inclusive of VAT) is payable to the adviser as commission subject to restrictions when selecting an Annual Financial Adviser Fee ranging between 0%-1.14% (incl VAT). No initial charges are levied by the Fund. The Fund accepts monthly investments of R500 monthly (via debit order).
Notes on Glacier Market Funds: Class B rated AAAm by CA Ratings. Class B is available through Glacier Financial Solutions (Glacier) products. No minimum investment required, however, clients must adhere to Glacier product minimums. Fees: 0% initial fee, 0.4% p.a. annual fund management fee and usual Glacier linked product fees.
Notes on Old Mutual Unit Trusts : A maximum initial charge of 0.68% (inclusive of VAT) is payable to the adviser as commission. No initial administration charge is levied