The 10X Money Market Fund was launched in August, and the 10X Top 60 SA Equity Index Fund and the 10X Tax-Free Savings Account are on the runway preparing for launch in November.
Chris Eddy, Head of Investments at 10X Investments, said: “10X has developed a loyal and engaged client base, many of whom have made it clear that they want 10X to cater to a wider range of their investment needs.
"Our investment team has been hard at work creating products that not only meet an expanded set of investment needs, but also seek out maximum efficiency, ensuring that they deliver high-performing, low-cost investment products focused on maximising our clients’ probability of meeting their investment goals.”
Eddy added that 10X has three more funds going through regulatory approvals.
As a retirement savings provider, 10X has always focused on engaging customers in their retirement savings journey. In addition to keeping things simple and transparent to empower the fund members, 10X has invested in education over the years.
A pioneer in index investing in South Africa, 10X burst on to the scene as an industry disruptor, questioning fee structures and convoluted product offerings. The company soon came to be known for its client-focused approach and a focus on educating and empowering consumers. Tools and publications produced by 10X (and available for free to members of the public, the media and the industry) include various calculators, a number of downloadable e-books unpacking investment processes and products, and an annual Retirement Reality Report on the state of retirement readiness in South Africa.
10X CEO Tobie van Heerden said: “Our objective is to help South Africans save and invest to build their wealth by providing high-performing funds and quality investment products at a low cost. A lot of work has been done in the background and it is very exciting that this is all coming to fruition just as South Africa emerges from such a tough period.”
The Money Market Fund, a great way to save for short-term goals, is also ideal as an emergency fund, something many South Africans have learned the value of in the last year and a half.
The 10X Top 60 SA Equity Index Fund will make it simple to invest in an expanded universe of SA-listed companies. An excellent way to grow your capital, the Top 60 fund will allow South African investors to support more local companies than the traditional Top 40 indexes do, including such companies as those that people buy their tea and their clothing from.
The 10X Tax-Free Savings Account will allow customers to save tax-free into the company’s newly expanded suite of funds. A Tax-Free Savings Account, which allows investors to take advantage of tax allowances designed to encourage people to save, is a great option for saving for long-term goals.
10X will continue to create educational material outlining how different products work for different saving and investing scenarios.
The content herein is provided as general information. It is not intended as nor does it constitute financial, tax, legal, investment, or other advice. 10X Investments is an authorised FSP (number 28250).
