Holding, buying and selling shares

Clients looking to take funds offshore can now use Vestact to invest directly in shares listed on the New York Stock Exchange and the Nasdaq. You can take R1 million a year offshore without permission from SARS and then a further R10 million with SARS exchange control clearance.

Owning a direct equity portfolio is the best offshore investment that you can make. Much better than holding cash offshore in low interest bank accounts or in expensive, opaque and underperforming mutual funds! In addition to US stocks, ADR programmes allow you to access the world's biggest corporations via New York.

Vestact manages a share advisory service on US markets similar to its approach with JSE listed shares. We constantly monitor trends in global markets and research stock opportunities. We stick to well-respected companies in growing industries. Our focus is on the healthcare, technology and consumer sectors, all of which are set to benefit from increasing global wealth and the growing ranks of the middle classes.

Your account will be held at Seaport Securities (member firm of the New York Stock Exchange and the NASD) and administered by Vestact. All client scrip holdings at Seaport Securities are kept in safe custody by Fidelity Clearing & Custody Solutions (through National Financial Services Llc, a division of the Fidelity Investments group).

Our aim is to get you fully invested in equity positions, but any leftover client cash holdings are invested in money market instruments offered by Fidelity Investments.

Transfers to and from your US account go via a Vestact transmission account at Investec Mauritius, and from there directly onwards to National Financial Services' agent bank, JP Morgan.

We always get your approval before making changes to your investment account. Vestact manages the investment process, via the Seaport Securities platform. The actual trades are executed by Seaport Securities, and settled by Fidelity Clearing & Custody Solutions.


Fees

The fee structure for these services is similar to your existing JSE account. An annual management fee of 1% of the value of the portfolio is levied in 12 equal portions of 0.08333% per month, with a minimum of 2 Dollars per stock holding per month. Brokerage will be charged on each trade carried out, with a minimum of $51.00. Brokerage will be based on a sliding scale of 1.5% for trades up to $15,000. The excess over $15,000 to $35,000 will be charged at 1.25%, and the excess over $35,000 to $70,000 at 1.0%, and the amount over $70,000 at 0.75%.


Getting started

For more information, contact us on 078 533 1063 or send an email to support@vestact.com.