The fees for Structured Products are built into the cost of the product, and the investor will have 100% of their funds allocated to the product.
On Clarity, the fee structure is as follows:
On initial reservation, no spread is incurred by the investor. 1 unit is R1000, there is no spread included in that price.
On maturity, no spread is included in the price when returning the funds to the Clarity wallet.
The only time a spread is incurred is if the investor decides to trade in the secondary market, ie they buy or sell the structured product in the market, after the listing date but before the maturity date. This is as per the current Clarity fee structure.
Structured products are only available at 100% margin so no overnight funding charge can be incurred.