The effective annual cost (EAC) is a measure which allows you to compare the cost that you can expect to incur when you invest in different financial products. It is expressed as a percentage of your investment amount. The EAC is made up of four charges; investment management, advice, administration and other charges, which are added together to produce the EAC. The EAC is an ASISA Standard and the full calculation methodology and assumptions are available on ASISA’s website (www.asisa.org.za).

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