The dawn of new investment products in the South African market, gives everyone the opportunity to start investing with amounts. To find out what options are available to you, we spoke to Ecsponent financial advisor, David Higgins. David shares his advice about how to invest R 1,, R 10, or R , for the best returns.
This is a great way to save, earn a little interest and protect your savings from impulsive buying decisions. You could also invest your R 1, lump sum into a Fixed Deposit account. However, these options deliver mediocre returns at best and investors could incur high costs by using these types of accounts.
According to Higgins, a R 1, invested for educational purposes would be more beneficial and earn greater returns. The Fundisa Fund is only available to households earning less than R , a year, and available via any bank. You can invest a lump sum of R 1, without any further contributions. You must use this money for education or you will lose out on the incentive bonus. You basically lend money to the government who guarantees to pay you back after a certain period of time.
Another alternative is opting for a unit trust. Additionally, this option may be more costly than the previously mentioned alternatives. If you have a lump sum of R 10, to invest, put this into a retirement annuity RA. Ecsponent will soon be launching a Retirement Annuity Fund that will provide you with a tax-efficient, low cost, flexible retirement savings product. The contributions you make to the fund are tax deductible annually. It is one of the most pain-free ways to get a diversified global portfolio which is managed for you.
And Wealthsimple is a big North American player which has some serious backers and a very different approach to the usual staid financial offerings. AJ Bell Youinvest is another solid, low-cost option with some ready-made options. This is Money's independent round-up of the top DIY investing platforms can help you choose which might be right for you and our tool lets you compare costs for the amount you have to invest and how you will do it.
Alternatively, if you prefer to go down the route of someone managing your money for you, we also look at the top robo-advisers and let you compare costs. Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products.
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The year fight for justice Victims of Equitable Life scandal forced to ramp up their campaign after getting just a fraction of their money back The stock market winners and losers of lockdown! Fund and trust ideas for income investors Going for growth? Fund and trust ideas for emerging markets Dumb tracker, cheap do-it-all fund, or smart beta? How you can track the market. The investment industry's world of abbreviations Acc: Accumulation - any income generated by the fund like dividends or interest is automatically reinvested.
Inc: Income - any income generated is distributed by the fund instead of being reinvested. Dis: Distribution - any income generated is distributed by the fund instead of being reinvested. R: Retail - the fund is aimed at ordinary investors. A, B, M, X etc: Different fund houses use letters for different things. Check with them what they stand for. But other fund houses use different letters - I, D or Y, for example - so you need to find out for yourself which are clean funds.
Gr: Stands for gross. EUR: Fund denominated in euros. Compiled with online stockbroker The Share Centre.
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