If they raise the monthly fee to $108.90 p.m. & reduce the exit...

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Tarvold

18,112 Posts.

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12/06/21

12:38

Post #: 53810800
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Originally posted by LFM: ↑

Received an email about SPP Harvester this morning. If you apply by 30th June the $3300 brokerage/establishment fee is waived. Minimum investment is now $8K.

However there is now a monthly fee of $99 exGST. All other details look the same apart from a (reduced?) $5 per share exit fee.

As I am not a participant wonder how compelling this is now given a fair chunk of the ASX300 has already raised capital over the past year and a a half? Also the directors of quality companies may have cottoned onto the thousands of share harvesters and may not “reward” these shareholders with much generousity.

OnMarket obviously know the SPP offers will not be as numerous as the past year they have operated it.

One could also do it personally by buying $100 positions using Superhero for $5 brokerage. The benefit of being able to avoid companies who have already raised or companies you would not want to invest in.

Thoughts from current investors?

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If they raise the monthly fee to $108.90 p.m. & reduce the exit fee to $5 per share I'm selling out.
No way I'm paying over $1,300 a year for mngt fees when I can do it myself via IG Markets for free & incur $5 per trade / 0.005%.

I think people looked at Superhero & said the corporate actions weren't up to spec.
From personal experience IG Markets works very well, I've already set up a SPP with them for sub ASX 300.
You need to buy $500 of shares at a time now so to trade in & out costs you $10 or $3,000.

I agree moving to a higher mngt fee indicates they believe there will be fewer SPP.

I assume there was no mention of reducing the horrendous brokerage costs & performance fees?

Last edited by Tarvold: 12/06/21
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