Definition:
A Linked Investment Service Provider (LISP) is an independent administration company that offers investors access to collective investment schemes (or unit trusts) across a number of different management companies. One could use a LISP to invest proceeds in one of the following, although each would have different tax implications and fund restrictions:
It is important to note that a LISP acts purely as an administrator and does not manage the fund assets nor does it provide investment advice.
Benefits:
Below is an example of a R 2 500 000 unit trust investment using an Old Mutual LISP platform.
Using a spread of different unit trust funds with different risk profiles, we are able to invest these funds at a total ongoing cost of 2.07% per annum thereby taking advantage of the benefits of investing in a LISP, as listed below.
Fund name |
Asset management fee |
Fund access fee |
Broker annual fee |
Admin fee |
Risk rating |
Total fee |
---|---|---|---|---|---|---|
AllanGray Balanced 20% |
0.91% | 0.29% | 0.57% | 0.27% | 3 | 2.04% |
Coronation Balanced Defense 20% |
1.25% | 0.29% | 0.57% | 0.27% | 2 | 2.38% |
Foord Balanced 15% |
0.68% | 0.29% | 0.57% | 0.27% | 3 | 1.81% |
Marriott Dividend Growth 15% |
0.86% | 0.29% | 0.57% | 0.27% | 4 | 1.99% |
OM Global Equity 10% |
1.54% | 0.11% | 0.57% | 0.27% | 5 | 2.49% |
Prudential Balanced 20% |
0.68% | 0.29% | 0.57% | 0.27% | 3 | 1.81% |
Total 100% | 0.95% | 0.27% | 0.57% | 0.27% | 3.33 | 2.07% |
An Endowment has a number of similar features but differs from a LISP as a result of the following:
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