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08 June 2004 Angelo Coppola

Investment management firm Allan Gray has announced significantly reduced minimums on their retirement products, effective immediately.

Reduced minimum investment amounts on the company’s annuities, endowment and preservation funds now make these products more accessible to a wider range of investors. 
 

The minimum investment on the living annuity has been reduced from R250 000 to R100 000. 


In terms of retirement annuities, the minimum investment lump sum has been reduced from R50 000 to R20 000, the ad hoc lump sum has been reduced from R20 000 to R5 000, and the minimum debit order has gone from R1 500 to R1 000. 
 

The preservation fund lump sum was halved to R50 000.  The new endowment lump sum is R20 000, down from R100 000, the ad hoc lump sum is R5 000, down from R20 000 and the debit order is R1 000, down from R1 500.

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