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An explainer of how some of the larger managers charge performance fees and what impact fees have on investment returns.

An illustration of the vast difference in personal wealth accumulation between a local investment portfolio and an offshore investment portfolio over the past decade.

Magnus Heystek has been called a few uncomplimentary names in his time. As it turns out, investors don’t like to be told that they’re headed in the wrong direction. Heystek has taken flack for suggesting that South Africans would do well to move their money away from local markets. Over the last few years investors have begun to notice the JSE’s underperformance themselves and Heystek’s critics have had to bite their tongues and face facts. Here, he compares apples with apples and the numbers are telling.- Melani Nathan By Magnus Heystek* AMONGST investors and even commentators in the...