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JSE Direct with Simon Brown

Weekly podcast hosted by Simon Brown covering the JSE and listed companies.
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Now displaying: Page 1
Jul 19, 2017

Simon Shares

  • Finally, 5 weeks after moving my FTTH has been installed so I am going to Periscope each recording as it happens which is typically Wednesday afternoon. https://www.pscp.tv/SimonPB/
  • Retail trading updates coming in and as expected they are mostly bleak, but we are seeing the impact of the rains mostly returning.
  • Netflix is a monster, over 100million customers world wide.
  • Long4Life is buying; Holdsport and Sorbet.
  • Steinhoff (JSE code: SNH) raises R12bn (Euro800million) in Europe with a 7.5 year bond at 1.875%.
  • Upcoming events

Is the fees battle over?

Last week I spoke about the price war in ETFs. But do fees still matter?

For the passive market fees are surely at point where they almost don't matter. Sure they can go lower but we're talking most local ETFs now nicely below a 0.5% TER ratio while the offshore are slightly above 0.5%. Don't get me wrong, every 0.1% makes a difference, but on R100k that's R100. Not nothing but not the difference between retiring or not.

I still look at VOO with a TER of 0.04%, but we're never going to get that low (they're a mutual company and owned by the fund holders and have massive scale we'll never see in South Africa).

Admin fees, once a silent killer have also disappeared at some brokers where a simple ETF or tax-free account has zero admin fees.

Transaction fees are still a bug bear at some places with minimums that mean you need to trade some R18k-R30k per hit to get the effective rate.

We Get Mail

  • Georges
    • I would like to find out how/when do ETFs collect their TER? Is this set off against distributions quarterly or “baked” into the price?
  • Helen
    • What will happen to my preference shares with Basil III? Will I loose them?

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JSEDirect is an independent broadcast and is not endorsed or affiliated with, nor has it been authorised, or otherwise approved by JSE Limited. The views expressed in this programme are solely those of the presenter, and do not necessarily reflect the views of JSE Limited.

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