10X Fee — Preservation Fund
There is one 10X fee.
An investment management fee is calculated as a % of your investment value on a sliding fee scale. Your fee ex. VAT will never exceed 1%. See below.
Investment management fee scale
| Investment Value | 10X Fee pa (ex VAT) |
|---|---|
| First R500 000 | 0.90% |
| R500 000 – R1 000 000 | 0.80% |
| R1 000 000 – R5 000 000 | 0.70% |
| R5 000 000 – R10 000 000 | 0.50% |
| Above R10 000 000 | 0.35% |
You do not incur fees when you join the fund, when you resign or retire from the fund, or when you transfer your investment to or from the fund.
The fund costs (eg fees for audit, regulation, trustees, etc.) are borne by 10X.
Trading costs, incurred when buying and selling securities (related mainly to brokerage and tax), are typically less than 0.2% of the average investment value per annum. All funds incur trading costs but these are seldom disclosed.