PAY LESS,
EARN MORE

For the purpose of comparison, we used the average of the fees of the 4 most widely used investment products in the Slovak market. This is the Rytmus from Amundi Asset Management a.s. (formerly Pioneer Asset Management - Dynamic Portfolio), Equity funds of Tatra Banka, a.s., FlexMax Konto from Cornhill Management, o.c.p., a.s. (equity funds) and Smart Investment Program of assets from Slovenská sporiteľňa, a.s.

The given example of a lump sum investment of € 50,000 in equity funds calculates with an investment horizon of 30 years. The appreciation is constant - 8% per year. The portfolio management fee is charged in the example once a year at the end of the calendar year from the value of the investment adjusted for appreciation. The entry fee for crediting deposits is deducted at the beginning of the investment horizon from the total amount invested. The amount that is actually invested is thus reduced by this fee. The resulting amount is rounded to € 50.

The example of a regular investment assumes the investment of 100 € each month for 30 years. The returns of the investment are constant, at 8 % per year. Each monthly payment is being reduced by the entry fee. Administration and management fee is being charged on a monthly basis from the total value of the account, without inclusion of the new monthly payment, while its value is the twelfth of the yearly fee. The performance is being calculated for each month in compound interest. The resulting sums are rounded to 50 €.

Under entry fee for crediting deposits, we understand all costs associated with the receipt of payment from the client and provision of financial instruments. Entry fees, in case of competition, are a simple arithmetic mean of the fees of the four products. In Finax, these fees are charged as deposit fee only for deposits below 1 000 € at the amount of 1% + VAT (20 %).

The management and maintenance fee includes the costs of portfolio management and administration by Slovak Financial Instrument Managers (fee for portfolio management, administration fee and custody of financial instruments) and as well the costs for maintenance and management of individual financial instruments such as mutual funds (management and maintenance fee of the fund). Management and administration fees in case of competitors are being calculated as simple arithmetic mean of those fees stated for these four products. Cost of investment in case of Finax products includes a management fee of 1% per annum + VAT (20 %) and management and administration fees within the ETF funds (on average 0.2% p.a.), that make up the portfolio of these products.