SBI. Gap between contributions and accounting balance

[ivanpgs]

Hi everyone,

I got the approval to join the iDeco in mid February (two months after I applied) and with my first two month contributions (January and February 2017), or 23.000 yens each one, I got my first funds bought automatically by the SBI system.



This is the screenshot that shows up my iDeCo account balance:

Code: Select all

Fund 1: ＥＸＥ－ｉ　先進国株式ファンド     購入金額:  12,886円  資産残高: 12,737円  損益/損益率: -149円  -1.2％
Fund 2: ＤＣインデックスバランス（株式６０）購入金額:  30,067円  資産残高: 29,861円  損益/損益率: -206円  -0.7％
----------------------------------------------------------------------------------------------------------------------------------------------------------
Total (not by SBI, I made it up)      購入金額:  42,953円  資産残高: 42,598 円 損益/損益率: -355円. -0.83%

And this is the screen showing the funds acquisition. It can be seen that they were not using the whole contributions money (46,000円 yen), but 42,953円 (not using 3,047円 for some reason, maybe provisioning this for service charges???).



And also the main balance contains the next items:

Code: Select all

資産残高:   42,598円 (my two fund´s participations current balance) 
拠出金累計: 46,000円 (my two months contributions)

The problem here is that when the two funds where bought, the many spent by SBI was:

Code: Select all

Fund 1 購入金額 (12,886円) + Fund 2 購入金額 (30,067円) = 42953円

Consequently, there should be cash 46,000円 - 42953円 = 3047円
But I cannot see this money anywhere.

Furthermore, the calculations are showing a loss percentage of -7.4％!!! because it seems they are doing it by using the whole 2 months total contributions figure, which is 46,000 yens.

Code: Select all

損益	     -3,402円, 損益率       -7.4％

When the reality is that this calculations should be done using the total row I made up in the first table of this comment:

Code: Select all

Total:(this is not showing, I made up this row)   購入金額:  42,953円   資産残高: 42,598 円  損益/損益率: -355円. -0.83%

Anyone knows where the cash not spent in the funds is shown? The only thing that I can think of is that SBI charged me for the service around this -3,000円. (I know they are charging me 64円 monthly, because I show it in the tab 事務手数料履歴)



But even if that is the case it should be shown as a movement (取り引き). Besides, the loss / benefit calculations should be done using the (funds current balance / funds acquisition price) rather than the (funds current balance / total contributions).

Anyone having this problem too that can explain me how SBI handle this?

Thanks in advance,
Ivan.

[RetireJapan]

Hi Ivan

It could be the initial setup fee (2777 yen) and the monthly fee 167 yen: http://www.dcnenkin.jp/search/commission.php

[ivanpgs]

Hi RetireJapan,

Yeah, I am pretty sure that it has to be something like those fees, but the thing is that it does not appear anywhere (except for the monthly fees, which picture I also attached to the first thread comment).

The thing that annoys me is that I cannot see where all this money went (initial setup fee or even cash). They should show it, at least the same way they show the monthly charged fees in their section 事務手数料履歴.

Thanks for your answer anyway, I will try to dig in a bit more to know about it

[RetireJapan]

Agree it's a bit mysterious. One reason they might not be showing them is that those fees are charged by the government and not by SBI. I agree they should still show them somewhere, but that might be the reason they aren't...

[ivanpgs]

SOLVED!

As suggested in the comment by RetireJapan it was all about fees. Now that I tried to search for all the fees charged I got the next result:



So they charged me 2,983円 in concept of 国基連手数料 + 64円 for the March monthly fee (事務委託手数料), which makes a total of 3,047円, which was the money gone that I was searching for. It is a pity that it does not appear as a part of the main screen with the loss/benefit percentage, at least showing the total fee charges.

Thanks and sorry to bother all of you guys!

[StockBeard]

Thanks and sorry to bother all of you guys!

Just wanted to reply it's not bothering me at all to read that kind of thread, it's actually helpful, and I'm sure I'm not the only one.

[robster]

I'm thankful for that post -- i have started 1 month later than you, and would have had the same confusion ahead of me!

[ivanpgs]

I am glad to hear that the post is helping others!

Now I am starting to change the percentage for the next contribution to be more conservative. Too many "bearish" in the market and the ＥＸＥ－ｉ　先進国株式ファンド is going down considerably. I changed to be 75%/25% instead of the initial 70%/30%, but even thinking to update it to be 80%/20%.

[tokyojoe]

Hi all,
Just to clarify, is the 国基連手数料 fee a one-off when you start the account, or some kind of yearly fee ?

[RetireJapan]

Just a one-off. There's also a monthly admin fee, a fee if you stop paying into the account, and a fee if you want to move the account to a different institution. I think there might also be a fee to cash out at the end too.