The costs associated with managing and operating the Fund, excluding transaction costs, are shown in the table below. These costs consist primarily of management fees and include custody fees, audit fees, regulatory fees, directors fees and other operational and establishment expenses. The figures shown are expressed as a percentage of the daily NAV of the Fund (Class A shares) calculated over a three year period and annualised. Transaction costs are necessary costs in the management of the fund and include brokerage, taxes, and levies due on purchase and sale transactions. These are calculated on the same basis.
Fee type
Class A (as at end of December 2023)
Investment Advisor Fee
1.00%
Total Expense Ration (TER)
1.51%
A higher TER does not necessarily imply a poor return, nor does a low TER imply a good return. The current TER may not necessarily be an accurate indication of future TERs. Transaction Costs are a necessary cost in administering the Fund and may impact returns. It should not be considered in isolation as returns may be impacted by other factors such as the TER, investment returns or the investment decisions made.
