What is the difference between the 10X Preservation Fund and the Sanlam Preservation Fund?


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The 10X Preservation Fund

Type of preservation fund: 10X offers only the new-generation (unitised) preservation fund. This gives you the freedom to make one withdrawal before retirement, or to transfer to another provider.

Investment strategy: The 10X Preservation Fund offers just one optimal portfolio. This portfolio is fully diversified across asset classes, securities, countries and currencies and adjusts automatically to your age and investment time horizon. 10X uses index funds.

Fees: The 10X RA charges just one investment management fee. The maximum investment fee is 1,04%. The TER (total expense ratio), which includes trading costs, is 1,20%. The 10X reported returns are net of these trading costs. The investment fee drops to 0,8% pa on amounts above R1m and to 0,57% pa on amounts above R5m. 10X does not charge admin, initial, exit or performance fees.

Advisor: You have the option to invest directly online, or you engage an advisor. You can negotiate a maximum advisor fee up to 1,14% pa.

Contributions: The minimum investment is R50,000.

Sanlam Preservation Fund

Type of preservation fund: Sanlam offers two preservation funds – the Cumulous Echo Preserver and the Glacier Preservation funds. The former is a policy-based RA which means you cannot make your one withdrawal before retirement, or transfer to another provider, without incurring a variation charge. The Glacier version is not policy-based so you can make your one withdrawal, or transfer without penalty.    

Investment strategy: You can choose from a wide range of leading investment funds selected by Sanlam (both actively manged and index funds). You can switch between these funds at any time. The first four switches in any plan year are free.

Fees: Fees vary per product and are disclosed upfront on your quotation.

Echo Bonus: With the Echo Preserver, you receive an amount, called the Echo Bonus, when you retire or terminate the policy. The longer you invest, the bigger the Echo Bonus

Advisor: You need to engage an advisor. You can negotiate a maximum advisor fee up to 1,14% pa. The Sanlam Preservation Fund permits an initial fee of up to 3,42%.

Minimum contributions: The minimum initial investment R25,000 (the minimum ad hoc add-on investment is R5,000).

Source: 10X Investments; Sanlam (www.sanlam.co.za); Information sourced on 28 June 2017.

Disclaimer: We are not affiliated, associated, authorised, endorsed by, or in any way connected with Sanlam, or any of its subsidiaries or its affiliates. The official Sanlam website can be found at http://www.sanlam.co.za. The use in this website and/or in related promotional print or video material of trademarked names and images is strictly for editorial and descriptive purposes, and no commercial claim to their use, or suggestion of sponsorship or endorsement, is made by 10X Investments. Any product names, logos, brands, and other trademark or images featured or referred to within this website are the property of their respective trademark holders. These trademark holders are not affiliated with 10X Investments, our products, services or our websites.

 

Whilst all efforts are made to provide you with the most accurate details, 10X Investments bears no responsibility for the correctness and accuracy of the content sourced above.

The information and answers supplied in this section do not constitute advice as defined by the Financial Advisory and Intermediary Services Act, 37 of 2002.


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