Fees and Costs
The annual brokerage, management and administration fees are set out in the table below. The fees set out below exclude value added tax (VAT), which is payable:
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Citadel Managed Portfolios
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Broking Desk
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Internet Based Execution
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Brokerage
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0.5% of the value of each transaction, subject to a minimum fee of R75 per trade
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0.5% of the value of each transaction, subject to a minimum fee of R75 per trade
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0.35% of the value of each transaction, subject to a minimum fee of R75 per trade
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Annual Management Fee calculated as a % of the value of the assets underlying this mandate, calculated and charged monthly
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20/20 Equity Portfolios
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0.80%
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Preference Share Account
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0.50%
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Equity Income Portfolios
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1.00%
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Administration fee
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R50 per month
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R50 per month
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R50 per month
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Investors must also be aware of the following mandatory cost as charged by the JSE for all stockbrokers and will be levied on transactions:
- STRATE settlement costs of 0.005459% of the value of shares traded (Min R10.92 / Max R54.59).
- Investor Protection Levy of 0.0002% of the value of shares traded.
- VAT of 14% is payable on the brokerage, the settlement costs and the protection levy.
- UST (Uncertified Securities Tax) is charged at 0.25% on the value of share traded, but is levied only on share purchases.
The interest rate received on cash deposits is the retail rate. The difference of 0.8% p.a between the retail and institutional rate is paid by the JSE to COS.