Section 10 : Fees and other costs
DID YOU KNOW? Small differences in both investment performance and fees and costs can have a substantial impact on your long term returns. For example, total annual fees and costs of 2% of your account balance rather than 1% could reduce your final return by up to 20% over a 30 year period (for example, reduce it from $100,000 to $80,000). You should consider whether features such as superior investment performance or the provision of better member services justify higher fees and costs. You may be able to
negotiate to pay lower contribution fees and management costs where applicable. Ask the Fund or your financial adviser. TO FIND OUT MORE If you would like to find out more, or see the impact of the fees based on your own circumstances, the Australian Securities and Investments Commission (“ASIC”) website (www.moneysmart.gov.au) has a managed investment funds calculator to help you check out different fee options.
This Section 10 shows fees and other costs that you may be charged. These fees and costs may be deducted from your money, from the returns on your investment or from the assets of the Fund as a whole. Taxes are set out in Section 11 of this PDS. Unless otherwise stated, all fees and costs set out in this section are expressed inclusive of GST, less the maximum applicable reduced input tax credits claimable by the Fund. You should read all the information about fees and costs because it is important to understand their impact on your investment.
10.1 360 Capital Active Value Equity Fund (Managed Fund) Type of fee or cost
Amount
How and when paid
Establishment fee The fee to open your investment
Nil
Not applicable.
Contribution fee The fee on each amount contributed to your investment
Nil
Not applicable.
Withdrawal fee The fee on each amount you take out of your investment
Nil
Not applicable.
Exit fee The fee to close your investment
Nil
Not applicable.
Fees when your money moves in or out of the Fund
Service fees Switching fee The fee changing investment options
Not applicable.
Management costs1 – the fees and costs for managing your investment
24
Responsible Entity Management fee Equal to 0.05% of the GAV of the Fund during the year (which currently equates to 0.05% of the NAV of the Fund during the year)2
Responsible Entity Management fee The Responsible Entity Management Fee is calculated and accrued on a daily basis and is payable monthly in arrears from the assets of the Fund.
Performance fee3 A Performance Fee equal to: • Where the return on Units in the Fund is more than 6% but not more than 8%, the amount that would reduce the total return on Units in the Fund to 6%; • where the return on Units in the Fund is more than 8%: – an amount which represents the difference between a 6% total return on Units in the Fund and a 8% total return on Units in the Fund; plus – 20% of the amount which would reduce the total return on Units in the Fund to 8%.
Performance fee The Performance Fee is estimated daily and accrued in the NAV per Unit over each 12 month period ending 30 June “Calculation Period”).
Indirect Costs4 Estimated to be 0.24% per annum of the NAV of the Fund.
Indirect Costs Indirect costs will be recovered from the assets of the Fund once they are incurred. They are reflected in the returns generated in any underlying asset and reflected in the NAV of the Fund.
Calculation of the fee is finalised and paid annually at the end of the Calculation Period or, in other circumstances such as where the Fund is wound up or subject to a takeover, within 14 days of calculation.
