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CFS fund, investsmart & fees

Discussion in 'Managed Funds & Index Funds' started by thommonz, 5th Feb, 2008.

  1. thommonz

    thommonz New Member

    Joined:
    25th Jan, 2008
    Posts:
    2
    Location:
    Sydney, NSW
    Hi all, first time poster, long time lurker :)

    I'm wondering if anyone here has any managed funds with investsmart. I'm looking to invest in the CFS Global resources fund. If I invest through investsmart the 4% contribution fee is waived, but if I choose to reinvest the income from this fund - will they also waive the reinvestment on subsequest contributions?

    Also, if anyone has any comments on this fund I'm all ears - I'm looking for a long term investment with this one to ride out subprime and currency strife


    cheers
     
  2. investfreq

    investfreq Member

    Joined:
    11th Nov, 2007
    Posts:
    5
    Location:
    Sydney, NSW
    Hi, thommonz, I'm also a relative newbie here.

    I have funds in CFS Global Resources but don't use InvestSmart. I figured out that by using the CFS margin loan facility I could avoid the contribution fee - apart from the initial amount. That is, buy using the margin loan, which doesn't have a contribution fee, then repay that amount of the loan. This may not be an option if you just want to invest a lump sum. Also margin lending is risky at the moment. CFS allows up to 50% LVR, but I'm trying to keep mine under 30%

    There's no contribution fee for automatically reinvested distributions.

    Global Resources is the one CFS fund that I'm happiest with. I've invested into several other CFS retail funds over the past year, but because of their fees + poor performance have decided to pull out of them soon and instead put my money into high interest savings + index ETFs, with maybe a small amount in direct shares. I'll probably keep the Global Resources for a while though, unless anyone knows of a similar ETF?

    cheers
    Shannon
     
  3. samaka

    samaka Well-Known Member

    Joined:
    30th Sep, 2007
    Posts:
    308
    Location:
    Sydney
    Yes, waived on future contributions.

    I got into this fund right before the drop at the start of this year. It's faired pretty well in that period.

    [chart=CC;FSF0244AU,XJO;last3;none;20080205]FSF0244AU, XJO[/chart]
     
  4. thommonz

    thommonz New Member

    Joined:
    25th Jan, 2008
    Posts:
    2
    Location:
    Sydney, NSW
    thanks for the replys, good to hear that you guys are thinking positively of this fund