IFAonline report also added that the SRIs will be run by Minerva discretionary fund managers on the Sanlam Portal tax wrapper.
Further, depending on how much trail the adviser wants to take and depending on the client’s risk profile, fees for the SRIs will be between 2.0% and 2.5%.
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The Sanlam Portal product fee will be 0.40%, fund management charges 0.42% and underlying holdings will vary between 0.63% and 0.83% depending on the risk profile.
Additionally, the SRIs will be available across three of the seven risk benchmarks within Sanlam’s Accel range; yellow (30% shares), green (50% shares) and blue (65% shares). These are the three medium risk benchmarks.
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