Satrix moves its R6 billion investment plan to online platform
The Satrix Investment Plan, launched in 2006, has been moved to SatrixNOW. Effective 1 March 2020, more than 50 000 Satrix Investment Plan clients have their accounts online at SatrixNOW.co.za, which is administered by EasyEquities and uses the technology of the Easy platform.
Satrix launched SatrixNOW in December 2015, together with then fintech start-up, EasyEquities. Says Satrix CEO, Helena Conradie “The ability to offer our clients NO MINIMUMS was a game-changer not only for Satrix, but for the entire South African investment industry. We knew at that time that EasyEquities offered exactly what we needed in a fintech partner. Now we’re consolidating our clients on a single online platform that offers access to all. The potential benefit that this consolidation and strengthened partnership brings to the client experience is another exciting milestone for the business.”
Sanlam, who owns 100% of Satrix, strengthened the partnership in 2017 by acquiring a 30% stake in EasyEquities. Charles Savage, CEO at EasyEquities comments “This is a great example of what you can achieve when two companies partner with a shared purpose to democratise all things investing. This brings total assets across all Easy platforms to over R16 billion, a massive milestone which could never have happened without our wonderful partners in Satrix and shareholder in Sanlam.”
Access and inclusion for the man on the street has always been a key focus for Satrix. Satrix listed the very first ETF in South Africa in November 2000. The index business is celebrating its 20th anniversary this year and has reached assets under management of R100 billion.
