That’s absolutely correct. But the spread fees are taken by the fund manager. For example, the often discussed “CS Quality fund” takes a subscription spread of 0.09%, and a redemption spread of 0.04% (see their prospectus).
So when you trade with Finpension on Tuesdays, you will get the Fund’s NAV of Wednesday ± those spreads.
Now, I don’t know if Finpension will net out redemptions/subscriptions internally to avoid these costs, but I don’t think so. I have always noticed these spreads.
Silly question but can the 1% non-invested cash on a pillar 3a account in finpension be invested in money market fund? I haven’t found a way to do so: am I missing something? Thank you.
Assuming you are not actively depositing into the portfolio: the 0.39% fee is going to eat away this 1% over time, and when your investments gain in value the cash becomes less than 1% as well.
They have 0.65% on your cash
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Thanks – does this mean I need to sell anything or add cash to pay for the annual fees or is it all done automatically to cover for those fees?
I haven’t had that situation yet, but the automatic rebalancing should take care of that and sell shares in case you’re running low on cash.
Got it, thanks. I actually disabled the automatic rebalancing (99% invested on one of the world ETFs).
I didn’t know that, thanks. So I just calculated that I am losing out 5.64 francs out of my annual 7056.- deposit each year 
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It also applies to other providers, not only Frankly. 
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That is also compounding. Next year (with no market movements and interest changes) it’s already 12 bucks, then 18…
It matters in my opinion. The 1% cash is already a drag on its own.
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You’re a lucky guy if you need to worry about <20 francs a year 
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Just disable rebalancing and let the fees eat away the cash. Then when the remaining amount is less than would be deducted with the next fee, transfer 0.39% of portfolio value. Who said investing has to be hard 
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Disabling rebalancing didn’t really works as expected. Newly transferred money and dividend payouts were just sitting idle. So instead of getting less % of cash over time, I actually got more.
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You did not include the cash portion in your calculation for VIAC “Anteil in %”, which makes up a bit more than 1%, then with rounding issues you get 100% in VIAC as well.
You’ll never get the the same exact amount for a few reasons:
- VIAC uses more decimals in their internal systems than shown on the transaction statements
- VIAC probably uses slightly different FX rates than Portfolio Performance to calculate the price in CHF
Nevertheless, I got differences of a few francs normally, which is totally fine for me.
Unfortunately no, to be honest, I don’t care about the performance in VIAC, I only care about the positions and trust Portfolio Performance to calculate the performance for me.
How has cash been growing? You mean percentage-wise, not absolute?
You could, with deactivated rebalancing, deposit money so cash gets to 2%. The money gets invested according to your defined strategy. If you want to invest into just 1 fund, you could temporarily set you strategy to 99% allocated to just that fund.
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Look in your transaction history, I got back some withholding tax in April.
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Apologies for the slight off-topic subject, but instead of opening a new thread here goes: has anyone compared the CSIF vs. Swisscanto funds with regards to which are better in terms of coverage, costs etc. when deciding on a portfolio containing World, Quality, Value and Small caps? Much appreciated.
Pre the UBS merger, the logic I followed was Swisscanto for Emerging Markets (has a smaller India CGT Tax issue) and everything else with CS. Given that UBS however was a fairly bad asset manager for Index Funds (just have a look at their funds’ tracking error)… the question is if this will change in the next few months. Institutional money seams to think that Swisscanto was the better choice than staying with CS / UBS; So the tendency is towards Swisscanto.
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So you already switched to Swisscanto for all funds?
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