1 reviews | Active since May 2017

07 Feb 2019, 14:00

ABSA investing - False advertising and poor communication

The ABSA Core Retirement annuity offerred by ABSA investments is grossly false advertising. They claim a 0.56 TER incl vat however no such portfolio exists with ABSA. The fund fact sheet states that the annuity investment and weighting is based on years to retirement. However a ABSA agent mails me back and states that you may not invest in this portfolio and you may only select the single fund. Why then advertise a product which you cannot deliver on. This is nothing short of false advertising to the public.

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Replies (1)
Absa
Absa's reply07 Feb 2019, 19:56
Official
Hi Mohamed,

Thank you for your posting. I am Basani Hlungwane and I will be facilitating your case. Your reference number to your complaint is ***.  I will update you on the matter by no later than end of day Monday, 11 February 2019. 
Thank you.