Saving for my child’s education

I’m a single mother of a two-year-old. I have R500 a month to invest in a unit trust for my child’s education. I’ve considered a tax-free savings account and I’m keen on low-cost passive managers such as 10X and Sygnia. 10X charges a total annual fee of 0.57 percent (including VAT), as opposed to an average of three percent charged by active managers. Sygnia requires a minimum investment of R10 000 and the fees start at 0.4 percent and go up to 0.9 percent, depending on the fund.

Which fund should I choose, given that I have time on my side. And if you aren’t