SATRIX is significantly lowering the annual management fees charged on its flagship Satrix 40 ETF from 1 October 2017.
“Democratising investments and allowing all South Africans access to the markets has always been at the core of what Satrix stands for as an investment business,” says CEO Helena Conradie. “To the extent that costs can be lowered responsibly, we will endeavour to do so.”
She adds that while business sustainability must be carefully considered consistently, Satrix is committed to lowering fees, thereby transferring enhanced value to its investors.
The current total expense ratio (TER) of 0.38% will be lowered and capped at 0.10%.
“Investors will incur a TER of no more than 0.10% on the Satrix 40 ETF from October. This will be achieved through lowering the management fee,” explains Rick Martin, Satrix CFO.
The South African ETF pioneer caused a shake-up in the local investment space when introducing the Satrix 40 in 2000 as the very first ETF listed on the JSE. Since that first introduction, Satrix has continued to innovate in the index tracking arena, meeting clients’ needs and helping all South Africans to grow wealth and access the power of the market.
All Satrix ETFs can be accessed via www.SatrixNOW.co.za, which has no annual platform fee and no minimum investment amount.
Photo credit: Moneyweb