FNB Launches New Shares Zero Investment Account With No Monthly Account Fees

Through Vernon Pillay August 26, 2021

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One of the interesting effects of the Covid-19 pandemic and national containment is the growing interest in investing in local and international equity markets. That’s according to FNB, which announced the launch of a new FNB Shares Zero investment account with no monthly account fees.

Raj Makanjee, chief executive of FNB Retail, says the growing interest in investing is evident across all income segments of the bank. “Despite the financial challenges of Covid-19, we have seen a year-over-year increase in the number of clients opening new investment accounts with us, with an increase of approximately 41% in business values ​​of actions. The launch of our Shares Zero ETF investment account further accelerates our efforts to expand our range of investment solutions and minimize the cost to clients of managing their money for both short and long term goals, ”he said. he declares.

Sizwe Nxedlana, Managing Director of FNB Wealth and Investments and Ashburton, said that “FNB Shares Zero came at the right time for South Africans, many of whom wanted to invest in global stock markets but were excluded by high brokerage fees. . and financial constraints. We urge clients to take advantage of the new solution to begin their ownership journey. It’s another way to help our clients unlock their wealth creation journey, by investing in stocks. “

Shares Zero ETF account holders will not pay any monthly account fees and brokerage fees when purchasing FNB or Ashburton exchange traded products. FNB also offers valuable training to guide new investors through their investment journey with ongoing access to real-time trading tips, market insights and sharing, as well as insight and advice. expert advice.

Nxedlana says Shares Zero ETF aligns with its recognition that investing in stocks can and should be a valuable part of any effective money management strategy. “Given the important role that investing plays in building a financially secure future, we have worked hard over the years to educate clients on the benefits and value of investing in stocks, while also making this investment easily accessible to as many South Africans as possible, “Nxedlana explains,” and the launch of Shares Zero is, in many ways, the pinnacle of these efforts, as it allows almost anyone to get started or to start. extend your personal investment journey. “

FNB Shares Zero is the perfect complement to ETN’s exchange-traded notes (ETNs) which were very well received by investors when the bank launched them in 2020. These innovative global investment vehicles allow South Africans to invest effectively in many of the biggest and best performing companies in the world, including Microsoft, Netflix, Apple, Tesla, Coca Cola and many more. A Shares Zero account also allows you to invest for free in the diverse range of Ashburton Exchange Traded Funds (ETFs), including the popular Ashburton Global 1200 ETF which tracks the performance of the world’s 1200 largest companies.

Nxedlana claims that having a Shares Zero ETF account also allows you to invest directly in the companies represented in the JSE ALSI Top 40 Index, which are among the largest and most well-known brands in South Africa. And these Top 40 investments are also made possible at a very low brokerage fee of just 0.25% of the trade value.

“Making your money grow through local and international action can be a reality for anyone,” he said.

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