Insider Sean Peche exposes SA's R320bn Balanced Funds ripoff: How Big Three unit trusts fleece savers

In this powerful expose' of a R320bn ripoff, straight-shooting financial insider Sean Peche says despite massive underperformance, SA's Big Three Balanced Fund unit trusts are harvesting billions every year from clients via management and 'performance' fees. The mushrooming of these funds into R100bn giants, is driven by marketing and profits, and has nothing to do with returns to savers - which have been pathetic. The fiercely independent founder of UK-based Ranmore Funds says it's high time SA's savers accepted their best protection against market volatility is not through abdicating to a guaranteed loser like these big Balance Funds - but by taking responsibility, adopting a long-term approach and keeping a close eye on costs. Peche, who is based in London, will be delivering a keynote address at the 4th BizNews Conference to be held at Champagne Sports Resort in the Drakensberg at the end of August. Learn more about your ad choices. Visit megaphone.fm/adchoices