Coreshares launches online retail Exchange Traded Fund platform
Now the S&P500 can be bought for as little as R250 per month
CoreShares, the innovative South African passive investment manager, recently launched its new online investment platform ‘Coreshares Online’. The online application is aimed at individuals who don’t have a stock broking account but who would like a simple method of purchasing CoreShares Exchange Traded Funds (ETFs). Users can use the online platform to purchase ETFs in a single transaction or on a recurring basis. The online system also caters for tax-free savings accounts.
According to CoreShares MD, Gareth Stobie advancements in financial technology or ‘fintech’ and index funds share a common destiny – both aim to make investing easier and more cost effective. “We are delighted to be launching this platform so that retail investors can access our products directly from us,” said Stobie.
The platform has a number of defining features including:
A simplified investment interface;
Online FICA registration;
Low brokerage fees of 0.1% and a reasonable platform fee of 0.3%, regardless of the sum invested;
Call centre support
Low minimum lump sum investment of R1,000 and/or the option of a recurring premium (minimum R250 p/month)
The service is designed for simple investing, not necessarily for those who want to ‘trade’ the market. The online application is available off CoreShares’ website: www.coreshares.co.za.
CoreShares recently listed the first S&P500 ETF on the JSE (Share code: CSP500). Any person who wants to access this iconic index can now do so by investing as little as R250 per month.
As listed shares on the JSE, CoreShares ETFs are already available via a variety of other stock brokering channels and ETF distributors. CoreShares’ own online platform will simply compliment these access points.
About CoreShares: Based in Sandton, CoreShares is a leading passive investment manager with a focus on Smart Beta. CoreShares manages 10 ETFs listed across 3 African exchanges. CoreShares also offers segregated index services to larger institutions and pension funds as well as Index Tracking Unit Trusts to financial advisors. CoreShares is owned by Grindrod Financial Services, RMI Investment Managers and Yellowwoods Capital.