Barclays Africa Group Limited,formerly ABSA Group Limited originally Amalgamated Banks of South Africa,is a South African subsidiary of Barclays Bank Plc. Absa is a financial services provider, offering personal and business banking,credit cards,corporate and investment banking, wealth and investment management. With a strong commitment to serving the needs of the masses and various segments of the market, Absa introduced the Exchange Traded Funds(ETF).
ETF’s are purchased during the course of the day and you receive the average price for that day.You can choose between different debit order dates or live trading and have as many debit orders or do as many live orders as you wish.All you need to do is to ensure there is sufficient cash available in your trading account.The minimum debit amount is R250 and there is no monthly fee and brokerage is 0.2% with a minimum of R20.
Other benefits of ETF’s include diversification which implies exposure to the whole market,liquidity which comes from market makers to enable investors to easily buy or sell the ETF, there is also transparency because the ETFs constituent assets, holdings and investment methodology are published regularly,lower costs as a result of ETFs being passive in nature with low fee structure than actively managed funds. ETF securities are fully backed by the underlying assets and funds are listed and traded like ordinary shares on stock exchange.
Absa can be contacted on 0113504000.