2023-05-02 06:00:44
In the small world of wealth management, the subject of fees is always sensitive. But, in many areas, the regulator and competition have led to a reduction in commissions over the years. Real estate investment companies (SCPI) have until recently escaped this downward price movement. However, this investment is not very cheap.
Investors must first pay a subscription fee of 8% to 12% of their investment. It essentially remunerates the distributor, the one who advised you on the product(s) best suited to your profile.
This commission has a special feature: it is integrated into the price of the unit, which makes it not very visible for the saver and therefore relatively painless! Especially since the SCPI’s rate of return is calculated on the price of this share, including costs.
It is when reselling his shares that the holder becomes aware of the extent of this drain. Indeed, SCPIs have two prices: the purchase price and the withdrawal value. The latter is lower, the differential corresponding to the famous subscription commission.
A withdrawal commission in the event of premature resale
Then come the annual management fees, around 11% per year. A number that can be scary. “The management fees for SCPIs are not as high as they seem, because they are deducted from rents and not from outstandings, tempers Pierre-Antoine Burgala, development director of Iroko. Compared to an average performance of around 5%, this represents 0.70% to 0.80% of fees on assets, which is much lower than the level of fees charged in most securities funds. (stocks, bonds). » These fees are used to pay for the management of the real estate portfolio, a task carried out directly by the management company or delegated to a specialized company. It is therefore difficult for a manager to cut corners on it…
That’s why players who have attacked fees have attacked subscription fees by creating products with 0% entry fees. However, there are only three today: Neo from Novaxia, Iroko Zen from Iroko and Remake Live from Remake AM. Altixia has also launched the SCPI Altixia Commerces with reduced subscription fees of 3%. These SCPIs without or reduced entry fees nevertheless provide for a withdrawal commission in the event of premature resale. For example, at Neo, it amounts to 6% of the amount reimbursed in the event of withdrawal before five years. At Iroko Zen, it’s 6% before three years.
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