EasyEquities and Satrix have launched a new ETF investment platform called SatrixNOW, which offers the full range of Satrix ETFs at an extremely low cost off an easy-to-use interface.
“The Satrix team was really impressed by the EasyEquities platform when we showed it to them at the Accenture Innovation Awards earlier this year,” says Purple Group marketing manager Almero Oosthuizen. “They were especially impressed by our costing structure – in particular the fact that we don’t charge platform or data fees, and our low brokerage of only 0.25%.
“We started discussing their requirements in the middle of the year, and at the end of September we go the go-ahead to proceed with the build.”
The SatrixNOW platform was launched on 2 December 2015, just over two months after it started.
“It’s quite a feat to build an investment platform in just over two months,” says Purple Group CFO Gary van Dyk, “but thanks to incredible teamwork between the Satrix and EasyEquities team, we managed to do just that.”
Gary says the partnership between EasyEquities and Satrix is founded on common values and business philosophies.
“Satrix is a big market disruptor, just like us,” he says. “They were first to bring ETFs to South Africa in 2000. They’re also committed to making investment easy and accessible to more South Africans. In 2006 they launched the Satrix Investment Plan, which opened up a whole lot of new investing for South Africans who may not necessarily have met the criteria to hold a stockbroking account. The plan allowed anyone to access ETFs for as little as R300 per month.”
Satrix ETFs
The most well-know Satrix ETF is the Satrix Top 40, which gives investors exposure to the top 40 shares on the JSE. The ETF is managed by professionals and provides investors, particularly those who are new to the game, with a de facto managed portfolio of the best-performing stocks on the stock exchange. Many EasyEquities investors start their portfolios with Satrix Top 40 ETFs, which they consider as safe bet for good performance.
Remember, you can invest tax free in ETFs through your EasyEquities TFSA account.
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