Fund discount
Fund discount refers to the possibility of purchasing shares in open or closed investment funds at reduced sales charges . The fund brokers are also called fund discounters or discount brokers . These are mostly direct banks or bank-independent investment advisors ( trading brokers ).
Open-ended investment funds
Fund discounters offer open-ended investment funds with a reduced or no sales charge . Here you compete with classic sales channels for open-ended investment funds (mostly branch banks) on the basis of price. In return for granting the discount, the fund discounters offer no or reduced individual advice and sometimes charge fees instead of the usual agency commissions.
In addition to any remaining (reduced) issue surcharge, you finance yourself through a share of the ongoing management costs of the fund. This so-called portfolio commission , which is also regularly withdrawn from the fund's assets at the full issue surcharge when purchasing fund units, is paid out by the fund company to the broker or the custodian bank during the entire investment phase and represents remuneration for ongoing customer support.
Since 2002/2006, open-ended investment funds have been traded on stock exchanges with no issue surcharge (see Open-ended investment funds # Acquisition of fund units ). However, the fund discounters have not completely lost their importance. The funds are traded on the stock exchanges with no sales charge, but with a spread between buying and selling prices. There are also purchase and sales fees. In addition, not all funds are currently tradable on the stock exchanges.
Riester fund savings plans
There are also discounters with fund savings plans as part of the Riester pension who reimburse up to 100% of the initial surcharge.
Closed investment funds
When purchasing units in closed-end funds, fund discounters usually agree individual discount conditions with the investor and offer the fund units at a lower purchase price. For the brokerage, the fund discounters receive a share of the costs for raising equity as shown in the issue prospectus of the respective fund.
Web links
- Fund broker: Thousands of mutual funds with no sales charge . In: test.de . August 11, 2015, last updated on August 28, 2018.
Individual evidence
- ↑ Acquire fund units cheaply with a fund discount. ( Memento from August 16, 2016 in the Internet Archive ) (handelsblatt.de from January 27, 2015, accessed on June 28, 2016)
- ↑ Financial test: Buy test winner fund online without surcharge (focus.de from January 17, 2013, accessed on June 28, 2016)
- ↑ Fund purchase: Secure shares cheaply (focus.de from June 17, 2015, accessed on June 28, 2016)
- ↑ Werner Bareis, Niels Nauhauser: Lexicon of financial errors - expensive mistakes and how to avoid them. Ullstein Verlag , 2010, ISBN 978-3-548-92078-8 .
- ↑ Retirement provision: Riester funds often invest too anxiously (wiwo.de from July 15, 2015, accessed on June 28, 2016)
- ↑ Investment: investors flee in droves from closed-end funds (welt.de, July 13, 2013, accessed June 28, 2016)
- ↑ Closed real estate funds under the sign of changed investment behavior. ( Memento from August 20, 2016 in the Internet Archive ) (finanz-anzeiger.de from July 17, 2012, accessed on June 28, 2016)