I have just recently come across an investment bank called Investec. They are one of the very few that offer you 4.59% CAR which is one of the most competitive in the market for a 30 day notice account. No management fee.
They get to lend out nine times the amount you deposit and charge interest on it.Do any deposit accounts, even those from investment banks, charge management fees?!
Huh!!? What has that got to do with my question?They get to lend out nine times the amount you deposit and charge interest on it.
it illustrates the point that the bank is the one who is investing were the op to put money on deposit and stresses the fallacy of putting money on deposit with a 10 year time frame.
Fine if that were actually the case. But it's obviously not. Many people have always answered this sort of thread/question with the standard "build a diversified/balanced portfolio" answer regardless of prevailing market conditions or volatility.This thread is a perfect illustration of investor psychology. When markets are poor everyone is advising deposit, deposit deposit
But your point was moot if it was meant to apply to feedback from AAM posters in general on this sort of query...to illustrate my point further.....
This thread is a perfect illustration of investor psychology. When markets are poor everyone is advising deposit, deposit deposit whereas last year all were saying stock market!
Can you explain that? If I invest €1m the investment company will invest €1,030,000 i.e. they will give me an extra €30,000?? I presume I can't just withdraw the full €1,030,000 the next day so is there some catch?
Sorry, I understood your question to be related to the previous post:Huh!!? What has that got to do with my question?
roland said:I think some wool has been pulled over your eyes. I doubt it very much that the management of Investec (or any other financial organisation) will provide a product for free.
Clubman said:Do any deposit accounts, even those from investment banks, charge management fees?!
Try reading my posts. In particular note the following questions:Your response indicates that this was not the case and you were rhetorically rhapsodising about the benefits of deposit accounts - that they do not charge any fees. Or maybe not. In which case, what was your question about:
Why would a deposit account ever have a management fee?
Do any deposit accounts, even those from investment banks, charge management fees?!
I don't necessarily disagree but...you are mad investing €1m in a product designed for mere mortals like myself who have €1000 to invest.
... precisely what "hidden" fees are you talking about? In these days of mandatory disclosure it's usually or always the case that all fees and charges must be clearly itemised in the proposal and policy documentation.The hidden fees in these life compnay products are ridiculous!
I don't necessarily disagree but...
... precisely what "hidden" fees are you talking about? In these days of mandatory disclosure it's usually or always the case that all fees and charges must be clearly itemised in the proposal and policy documentation.
I still don't know what you're talking about. Sorry.costs is probably a better word to use ... when was the last time you saw the charges that the real underlying provider was charging? you dont really think that BOI and Irish life and all the rest are writing options now do you?
What precisely do you mean by this as well?also these managed fund manage to a benchmark ...
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