Brisbane Structure Course

[Steve Navra]

Hi Brisbane,

Many, many emails later and YES I will run a Structure Course for you

(So please stop saying I am ignoring you! Ahem, hi Asy!)

DETAILS:

When: 8th and 9th February

Where: Ridges Southbank

Times: 9-00am to 5-00pm both days
(morning and arvo tea/snacks & lunch provided)


Cost: $286 per attendee

Course details see www.navra.com.au (Courses)

As usual, limited to maximum 40 people. There have been heaps of requests to do a Brisbane course, so if you are considering coming then please book ASAP.

Bookings via my website (preferred option)

or

Phone: 02 9087 1888
Fax: 02 9087 1877

E-mail: [email protected]

Look forward to seeing you all then.

Regards

Steve

 

[asy]

I'm booking ASAP!!!

YAY!!!

asy

 

[kierank]

Steve,

8 and 9 Feb don't suit me - I am in Hong Kong for work. Do you think you will be organising another one in the coming months??

KieranK

 

[Steve Navra]

Hi Kieran,


Yes, what normally happens is that we get inundated with requests after each of the courses, so I decide to do another and another . . .

So maybe later in the year, but before that Melb / Sydney
/ Perth etc

Regards,

Steve

 

[monique]

Navra Course

Hi Brisbane people,

I am so pleased we finally have you in sunny Brisbane Steve.

I travelled to Sydney for Steve Navra's weekend course last year and just wanted to say it was well worth the time.

I learnt so much and have already achieved great things - now I know exactly where I want to go and how to get there.

I cannot recommend this course enough. Do yourself a favour and book into this course AS SOON AS POSSIBLE - they fill up quickly and it would be a shame to miss it.

Steve - will there be any more news on your share fund at this course?

Regards

Monique

 

[Steve Navra]

Hi Monique,

Thanks for the positive rap

The course is rapidly booking out, so for these that are interested, please book sooner than later.

I will include a full section on the Share Fund in the course:

I don't usually discuss shares on this forum (This being a property forum) but here are a few brief details:

The fund will be performance based, meaning we will only earn our management fees if we exceed the index!

In light of the very poor performance results of the managed fund industry at this time, this is a HUGE statement.

Simply put and in line with our company philosophy we don't believe we deserve to earn a cent, if we can't add value for our clients.


FEES:

There is some confusion as to what fees are charged in a fund:

1) The Fund Manager charges a fee for his supposed expertise - the value he adds with stock selection et al so as to add value for the client. (Otherwise why use a managed fund at all)

Our fee in this case will be 0.35% of each percent achieved above the index. NO PERFORMANCE then NO FEE

2) Administration fee: - Monthly statements, dividend payments etc. We will be using NAB to administer the fund for our clients and so will conform with there fee structure. (One of the least expensive in the market with many user friendly features, so as to accomodate our clients investing requirements.)

3) Entry / Exit fees: Mainly these reflect the commision that the advisor charges for recommending the fund. We envisage allowing the advisors to specify their own charges as long as these are FULLY DISCLOSED to the investor. (The investor can then decide to use the particular advisor or not.)

Offering a fund of this nature takes a fair amount of confidence in our ability to perform for our clients.

To date I (and the very many clients involved in the beta testing of our trading system) have ALWAYS exceeded the index!

The full detail of all I have stated above will obviously be included in the prospectus. (Enquiries: www.navra.com.au)

I hope this is of interest to you.

Regards,

Steve


PS: Monique, please come by and visit us at the Brisbane course - I am sure the attendees will be interested to hear about what you have achieved to date.

 

[XBenX]

Steve - bet you are having fun w/ FSRA atm

For those that dont know that ongoing fee is _very_ reasonable
most funds charge more than that and still charge whether you gain or lose

You are using NAB matertrust as your admin platform ?
Admin fees will need to be paid to NAB even if you dont outperform the index/lose money though correct ? or are you meeting these fees in that case ?

Can advisors fully rebate entry fees ?

 

[Steve Navra]

Originally posted by XBenX
You are using NAB matertrust as your admin platform ?
Admin fees will need to be paid to NAB even if you dont outperform the index/lose money though correct ? or are you meeting these fees in that case ?

Can advisors fully rebate entry fees ?

Hi Ben,

Yes, advisors can rebate the entry fee, or even elect not to charge it. It is up to the individual advisor and we as fund managers have no say in this matter. (These days it is smart to negotiate this fee with your advisor.)

You are also correct that the admin fee does need be paid to NAB irrespective of the return. After all they have performed their function, issued statements, div cheques etc. Originally it was my wish to absorb the entire admin fee cost from what we make whether we exceed the index or not! BUT sadly the other directors think I am insane and turned this down. I have left it open in as much as that we retain the option of meeting these fees if we don't exceed the index, but at the discretion of the board. (The board is happy with this in principle, but they would like to see me build up a performance reserve first - which I suppose is reasonable.)

The bottom line is that even so, I know of no other Managed Fund that is prepared to base their income purely on their ability to outperform the market. So hopefully this will give investors confidence in our ability to value add for them.

Regards,

Steve

 

[Lily House]

Hi Steve,

Thanks for the info about your managed fund. After seeing ALL of my manged funds head downhill recently, I am interested in one where no fees are paid unless there are results!!

When is it due to be launched? Is there somewhere to find out detailed info without attending your course? ie how can we obtain the prospectus.

I am also interested in the minimum amount you will require, and if there is a regular contribution feature. I was interested in a particular fund recently - wanting to start with $1000 and add $100 per month. Then found out minimum was $20,000.
What sort of figures will you be looking at?

Thanks
Lily

 

[Jas]

Lily - note that Steve says his fund his fund has to outperform the market. If the market is (-15%), and Steve is (-5%), he's still outperformed the market.

So it's not that you pay no fees if it goes negative. You only pay no fees if he doesn't outdo the market.

Steve's just putting his money where his mouth is.

Jas

 

[Steve Navra]

Hi Lily,

Thank you for the excellent questions.

Firstly Jas is correct:

Assume the market does -20% (heaven forbid)

And we perform at -5%, then I have outperformed the market by +15%. (Saved you money that you would have lost!)

I will be doing a launch in all the major cities, and prospectuses should be available from mid to late March.

Good news: At this stage the minimum investment is envisaged at $1000 and regular savings $200 pm. (NOTE: this may even be less! I am aiming for min of $500 and saving plan at $100 pm - subject to board approval.) The reason is that I have many clients who wish to establish savings plans for their children and mostly I am trying to accomodate my clients needs.

Lastly let me add that the final fund structure is only now being finalised, so please bear with me until the actual prospectus is issued.

Regards,

Steve

 

[Kevmeister]

For what it's worth, our savings plan for our daughter is only $100 pcm (actually $105 now - I increased it to account for CPI). Min. investment with my fund was $1000.

What really sucks is that the minimum additional investment is $500. So, if we wanted to add a couple hundred (like we intend doing when our daughter's immunisation "bonus" is paid), we can't without adding more money, or holding it till later.

All things to consider if you intend appealing to "Mums and Dads".

(Heck I just realised I'm one of the "Mums and Dads" investors )

 

[Lily House]

Good point Jas, thanks for that.

Thanks Steve for your reply.

I assume it works both ways.
Eg the market makes 10%, Steve's fund makes 13%, so with his .35% cut, in this scenario, Steve earns approx 1%. Is my logic correct?

Lily

 

[NigelW]

Originally posted by Lily House
Good point Jas, thanks for that.

Thanks Steve for your reply.

I assume it works both ways.
Eg the market makes 10%, Steve's fund makes 13%, so with his .35% cut, in this scenario, Steve earns approx 1%. Is my logic correct?

Lily

That would be right ...the fund manager WILL make a lot of money if it seriously outperforms...but then what do you care - you've beat the market by a lot and made money or not lost as much as you may have done otherwise....I don't begrudge the .35%, sounds pretty fair to me when compared with the usual fees fees fees regardles off performance which most fund managers work on...

 

[geoffw]

My only worry with this is that if the index goes negative, and the fund goes positive, my investment may go negative or just slightly positive. Sure, that's much better that the funds I have at present- but maybe I should just put the money in the bank until the market turns.

For isntance, if the market drops 10%, Steve's fund goes up 5%- he would claim a fee of 5%, and my money is in neutral.

 

[Les]

For those who might be "out-of-towners", I would believe that Where: Ridges Southbank might, in fact, be Rydges Southbank. (Could be awkward if trying to find it in White Pages or similar...)

 

[brains]

Steve,

Im booken into your March Sydney weekend course, will the fund prospectus be ready by then?

(just to add to the hundreds of questions you are answering

 

[Steve Navra]

Hi Brains,

Yes it BETTER be ready by then!!

I will be doing official launches arroud the country - so you will all be invited to come for a drink. (or few!)

Notification will go out to all clients and I will post the dates and places here in meeting point.

regards,

Steve

 

[Alan H]

I agree with Nigel.

If the fund performs then the Fund Manager will do very well indeed............but then..........so he should!

Like most things in life there's no such thing as a free ride. Most of the usual expenses of underperforming funds sound like they are reduced or eliminated here and Steve takes a cut of the 'out performance'(not necessarily the 'profit') which still sounds fair enough.

If the fund outperforms then the Fund Manager will do very well.......but then.......so will you. Can't complain about that one.

 

[JaneP]

Hi All,

How very exciting that Steve's getting up to Brisbane finally, now that I've moved up to sunny QLD. Although I'd have to say now the secret is well and truly out of the bag.

I've been working with Steve in Canberra for a couple of years and it works, let me tell you. I do a lot of other things on my own but basically work in accordance with Steve's structure. And the good thing is - it's so simple.

So if you get a chance to go to the weekend at Rydges, make sure you do it because it will clear a lot of "fog" and set you on a great path.

Enough gushing!!! I also can't wait for the launch of the managed fund - just waiting, waiting, as I keep nagging Steve, let me in on it now. Oh, patience was never one of my great virtues.

For those of you who remember, about a year ago I bought an old queenslander and renovated from interstate. Well, not really, I actually flew up with baby and all and project managed the wole thing. Now, I'm starting my first development and have been at the drawing board with plans etc and will soon start work on moving the house up on poles, over to one block etc etc so if anyones interested in how hearing about this, let me know via email.

In the meantime, see you at Steve's workshop.

Cheers
JaneP