FNB launches a new Shares Zero investment account with no monthly account fees
An FNB Shares Zero account also allows you to invest directly in the companies represented on the JSE Alsi top 40 index
One of the interesting effects of the pandemic and the national lockdown is the growing interest in investing in local and international equity markets. This is according to FNB, which has launched the FNB Shares Zero investment account with no monthly account fees.
FNB Retail CEO Raj Makanjee says the growing interest in investments is evident across the bank’s income segments. “Despite the financial challenges of Covid-19, we have seen a year-on-year increase in customers who open new investment accounts with us, with a 41% increase in share trade values.
“The launch of the FNB Shares Zero investment account accelerates our efforts to broaden the suite of investment solutions and minimises the cost for customers to manage their money for short and long-term goals.”
FNB Wealth and Investments and Ashburton CEO Sizwe Nxedlana says: “FNB Shares Zero has come at the right time for South Africans, many of whom have been wanting to invest in global stock markets but are excluded by high brokerage fees and financial constraints.
“We urge customers to take advantage of new solutions to start their journey of share ownership and unlock wealth creation through investing in shares.”
FNB Shares Zero account holders will pay zero monthly account fees and brokerage fees when buying any FNB or Ashburton exchange-traded products. The bank is also offering valuable education to guide new investors along their investment journey with access to real-time trading tips, market and share insights, and expert opinions and guidance.
Nxedlana says FNB Shares Zero aligns with the recognition that investment in shares can, and should, be a valuable component in any effective money management strategy.
“Given the important role investment plays in building a financially secure future, we have worked hard over the years to educate customers on the benefits and value of investing in shares, while also making such investment readily available to as many South Africans as possible and the launch of Shares Zero is, in many ways, the pinnacle of these efforts, because it makes it possible for almost anyone to start or expand their personal investment journey.”
The successful investment in shares can be one of the valuable cornerstones of effective, lifelong money management.FNB Wealth and Investments and Ashburton CEO Sizwe Nxedlana
FNB Shares Zero is the perfect complement to FNB’s popular exchange-traded notes (ETNs) that were well received by investors when the bank launched them in 2020. These innovative global investment vehicles allow South Africans to effectively invest in many of the largest, and best-performing, companies in the world, including the likes of Microsoft, Netflix, Apple, Tesla, Coca-Cola and more.
A Shares Zero account also lets you invest in the diverse range of Ashburton exchange traded funds at no cost, including the popular Ashburton Global 1200 ETF that tracks the performance of the 1,200 largest companies in the world.
Nxedlana says having an FNB Shares Zero account also allows you to invest directly in the companies represented on the JSE Alsi top 40 index, which are some of the biggest and best-known brands in SA. And these top 40 investments are also made possible at a low brokerage charge of just 0.25% of the transaction value.
“Growing your money through local and international shares can be a reality for anyone, and with FNB as your partner and guide, the successful investment in shares can be one of the valuable cornerstones of effective, lifelong money management.”
For more information, visit the FNB website.
This article was paid for by FNB.