The costs of maintaining and managing an investment account are as follows:
Account Administration Fees
A minimum non-refundable fee of R250 per annum, excluding VAT, will be charged to your account quarterly in arrears. It represents the total cost of opening the account, holding assets in safe custody, collection of dividends, managing rights attached to your scrip holdings, the administration of share splits, consolidations and other corporate actions.
A basic fee and brokerage will be charge on all deals based on the following scale, regulatory duties and taxes are also levied:
|1.||Basic Fee||R 85.00|
|Scale Starts||Scale Ends||Brokerage|
|250 000.01||1 000 000.00||0,55%|
|1 000 000.01||1 500 000.00||0,45%|
|1 500 000.01||3 000 000.00||0,25%|
|3 000 000.01||9 999 999 999 999.99||0,20%|
|3.||VAT||14 % Value Added Tax (VAT) is charged on Basic, Brokerage, Strate Fee and Investor Protection Levy. Please note that VAT is not applicable for non-resident clients|
|4.||Securities Transfer Tax||Securities Transfer Tax (STT) of 0,25% is applicable on purchase transactions|
|5.||STRATE Fees||A minimum of R 10.92 and a maximum of R54.59 calculated at 0,005459% of the value of the deal, is payable to STRATE|
|6.||Investor Protection Levy||Investor Protection Levy is calculated at 0,0002% and is payable to the JSE|
The broking fee is calculated per share traded per day. If more than one order to buy the same share is executed on the same day, the broking fee will be calculated on the total value for the day as one trade. If one order to buy or sell shares is executed over two days, you will be charged a broking fee for the value traded on each day as two separate trades. One order to buy a share and one order to sell the same share on the same day will constitute two trades and will attract two separate broking fees.
Portfolio Management Fee
Imara Securities will manage your portfolio on a full discretionary or advisory basis. A portfolio management fee of 1,5% per annum, excluding VAT, on the total value of the portfolio is levied quarterly in arrears.