do I incur double charges when investing in a niis fund?
No. As a result of the size of the investments that we are able to place with different fund managers we are able to rebate the initial charges down to a minimum (e.g. 0 – 0.25%). With regard to annual management fees, while these are effectively levied within our portfolio as well as in the underlying funds, when investing in a fund, we examine its performance net of fees and always ensure that this figure is well above the benchmark. Furthermore, we receive a reduced annual management fee from some of our underlying fund managers, and as our asset size grows these economies of scale are passed on to investors as further reductions are negotiated. The performance objective for our funds is set on the basis of returns after annual management fees.
