Annual Management Fees For index fund are unacceptable.

[Morgan 2.0]

Hello,

I've looked at the prospectus of the likes of vanguard and fidelity in america, and they charge 0.5% or even less on their index fund.

I wrote/rang and emailed them both as well as T.Rowe Price, but they all said they couldn't accept a foreign national investing through them. (I'm irish)

Right now I'm getting charged 1.5% in New Ireland, which I think is unacceptably high.

Help? What can I do to invest in the indices at lower expense?

I've not been sitting on my hands, I've written and rang up lots of Irish companies, eg: quinn and lots more, at least a dozen, but they are all as bad as each other.

Does anyone know how to buy funds directly through a discount broker?

 

[Dave Vanian]

Many people on this board have enquired about investing in Vanguard funds here. I read elsewhere that it might be possible for a minimum investment of €100,000 but I'm not even sure on that point.

Some of the discount brokers in Ireland (not discount stockbrokers, but discount life & pension brokers) can get you the New Ireland products for less than 1.5% but not as low as Vanguard.

 

[mercman]

It really depends on your Investment amount. The market in this country for Investments is a disgrace, for which the Regulator needs to get a grip of the circumstances and the market. With which intermediary did you invest ?? If directly and you are trying to get a lower rate I wish you the best of luck. It is amazing that all non tied brokers can offer a better deal than the company themselves and in the case you have mentioned, that being New Ireland owned by Bank of Ireland. See my posts of earlier under Investments. If you require any more assistance PM me as I have spent the last eight months trying to seek a resolution. Next step is the Courts.

 

[Morgan 2.0]

I read elsewhere that it might be possible for a minimum investment of €100,000 but I'm not even sure on that point.

Yes, that is correct, vanguard's Irish wing told me that when I emailed them, but I'm only starting out, and I don't yet have 100k.

Some of the discount brokers in Ireland (not discount stockbrokers, but discount life & pension brokers) can get you the New Ireland products for less than 1.5% but not as low as Vanguard.

Can you give me a couple of names? Then I can phone them about it

That would be a great help thank-you.

 

[Morgan 2.0]

I invested through New Ireland, through their Cork regional office.

And I agree completely, it is simply staggering. But I don't think the regulator will act quickly or as much as it needs to.

I have an idea about that, I'll put it in a new thread.

 

[smiley]

one tip:

Buy yourself some index tracker funds. Very low fees.
Most fund managers fail time and time again to beat the market indexes.

Why pay this ridiculous fees for failure?

loads of ishares index trackers...just buy and hold forever.