1 reviews | Active since Mar 2009
Ninetyone (prev Investec) clean priced units, transparency and service
My Living Annuity is administered by Alexander Forbes. Recently Alexander Forbes contacted me and advised: "In keeping with industry trends to ensure pricing is transparent, Alexander Forbes has made the decision to switch all investors into clean-priced unit trusts. The clean-priced unit trusts have a lower total investment charge (TIC[1]) than the rebated unit trusts". The switch duly happened affecting three investments in my portfolio Prudential Coronation Ninetyone Opportunity fund Prudential and Coronation resulted in a small cost reduction as expected. Ninetyone however in a small increase in costs Emailing a few times to two different email addresses (on their contact-us) requesting detailed cost structure I received successful delivery notifications but no replies The Ninetyone Sept 2020 Fact Sheets for the fund support this fact. The switch to fund delivers a lower return than the switch from fund(prev 12 months). Ninety one did confirm that these funds deliver the same return before costs Strange that the switch from fund (min invest R10,000) performs better than the switch to (min invest R10,000,000) meaning that large investors get a lower return than small investors and of course Ninetyone make more from large investors
So much for their clean priced and transparency and their client support (no replies)
Thank you, we acknowledge your service review and will be in contact with you.
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Ninety One
Thank you, we acknowledge your service review and will be in contact with you.
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Ninety One
Thank you for providing us with an opportunity to assist with the matter that you raised.
Please let us know if you need anything else and we will be happy to assist. Our Client Services team is available on ***/100.
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Ninety One
Thank you for providing us with an opportunity to assist with the matter that you raised.
Please let us know if you need anything else and we will be happy to assist. Our Client Services team is available on ***/100.
Regards
Ninety One
