FANews
FANews
RELATED CATEGORIES
Category Investments

SA Bullion reduces cost of investing in Krugerrands by 27.5% percent

24 November 2010 SA Bullion

SA Bullion is pleased to announce a 27.5percent reduction in the cost of investing in one-ounce gold Kruggerand coins with immediate effect, Tuesday, 23th November2010.

SA Bullion advises that this has been facilitated bysuccessful client uptake and volume growth in the last two years of trading and anticipated market demand ahead for physical gold which has offered investors a return of approximately17% per annum annualised for the last 10 years.

According to SA Bullion founding director, Mr. Hilton Davies, the total of all entry and exit costs to invest in physical gold have come down from 5.71% (including VAT) to 4.14% (including VAT) and the complete benefit is being passed on to its investors.

He says, ‘the transaction chargesfor investing inThe BullionGold Facilityhave beenmaterially reduced after Rand Refineryand SA Bullionboth substantially reduced theirupfront charges to provide an even more compelling investment into physical gold, using the most widely circulated gold coin in the world, the one-ounce Kruggerrand.

Rand Refinery isthe world's largest gold refinery and acts asagentfor the Reserve Bank in Krugerrand sales. SA Bullion is South Africa'sonly licensed investment manager that operates under a special dispensation of the South African Reserve Bank and is exclusively focused on physical gold. The BullionGold Facility is SA Bullion's flagship private-client gold bullion investment service where clients invest in freshly-minted Krugerrands.

According to Clint O’Brien, SA Bullion’s director of retail business, ‘These transaction charges make the investment product very competitive in the investment management industry. It comes at a time when investors are looking for a complete solution to owning physical gold that provides a cost-effective entry and exit strategy with storage and insurance facilities.

This announcement coincides with the second anniversary ofThe BullionGold Facility, South Africa's firstphysical gold bullioninvestmentproduct. SA Bullion was founded in 2005 by Hilton Davies, previously a director at Allan Gray and founder of Allan Gray Unit Trust in 1998.

Quick Polls

QUESTION

No developing economy has ever built a single-payer complementary NHI equivalent covering the entire population. NHI promises comprehensive care but it is also 100% free at the point-of-service. Is this practical?

ANSWER

It is doable but collaboration is key
South Africa is not in a position to build NHI
The only conclusion possible is that the private healthcare sector is not going to disappear or change
There is little chance that the NHI will be able to receive significant government funding
A E fanews magazine
FAnews August 2019 Get the latest issue of FAnews

This month's headlines

Create designer policies through AI
Are advisers in a precarious position?
A claim, COIDA and a dog bite
Non-disclosure never an innocent fraud
Prescribed assets: The threat to pensions
Cannabis and the issue of trust
Getting the most from disability claims
Subscribe now