We are pleased to announce the removal of initial admin fees and reduced investment minimums – making our range of unit trusts more affordable and accessible than before.
Removal of initial administration fee
As of 1 March 2010, Old Mutual Unit Trusts is removing the initial administration charge for investments of R500 and more; which is also our fund minimum. This will affect you if you currently have a monthly debit order of R500 or more, or if you are about to start a monthly debit order.
If you currently invest less than R500 per month you will continue to pay administration fees as before. Therefore you may want to consider boosting your investment amount to R500 to benefit from a decrease in fees paid while enjoying the future benefit of increased savings.
Retirement Products are included
This fee removal also applies to the Old Mutual Personal Retirement Annuity (PRA) and the Old Mutual Personal Living Annuity (PLA). For the PRA, existing investments below R500 (the PRA product minimum) will continue to incur the initial administration fee of 2.28%.
How much will you save?
You will now have more money actually invested each month. This translates into 2.28% on equity, asset allocation and property unit trusts, and 0.46% on fixed interest unit trusts.
Changes to minimum investment amounts
The minimum lump sum investment amount for Old Mutual Money Market Fund and all our fixed interest funds has been reduced to R10 000. The recurring monthly investment for the Old Mutual Money Market Fund is reduced to R1 000 and R 500 on most other unit trusts. The exception is the Four Plus range that continues to offer monthly investment minimums of R250, but for amounts of under R500 per month you will continue to pay your initial administration fee of 2.28%.
Should you have any queries, please contact the Old Mutual Unit Trusts Service Centre at 0860 234 234 or speak to your adviser or broker.