| 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 |
|
| Early Withdrawal Fee |
|
2% of the amount withdrawn is levied on amounts invested for less than 12 months. |
|
If applicable, deducted from redemption monies. It is only applicable to Direct Investments (Class A units) |
|
Termination fee
The fee to close your investment |
|
Nil |
|
Not applicable |
|
| Management costs - The fees and costs for managing your investment |
|
| Management fee |
|
1.23% for Direct Investments (Class A units)
1.025% for Indirect Investments (Class B units)
|
|
Calculated and accrued daily on the net asset value of the relevant Class of Units in each Fund at the end of each day, and payable from the relevant Fund's assets, within five (5) Business Days of the end of each calendar month. |
|
Estimated Administration costs
Expenses that are anticipated will be incurred in the operation of each Fund. incurred in the operation of the Fund. |
|
Approximately 0.205% |
|
Calculated and accrued daily on the net asset value of the Fund, as applicable, at the end of each day, and payable from the relevant Fund's assets, within five (5) Business Days at the end of each calendar month, or as incurred. |
|
| Performance fee |
|
20.5% of performance (net of management fees, administration costs and before deduction of performance fees) in excess of the S&P/ASX 300 Accumulation Index.
For example, if the return of the relevant Fund exceeds the benchmark by 5% (after management fees, administration costs and before deduction of performance fees), this will add 1.025% to total fees (being 20.5% of 5% outperformance).
|
|
For Direct Investments (Class A Units), the performance fee is calculated each June 30, or at withdrawal, based on the performance of each individual investment relative to the benchmark over the period of investment since the performance fee was last calculated and generally paid out of the distribution for each account or, if required, the proceeds of redemption.
For Indirect Investments (Class B Units), a daily performance fee calculation is made, comparing the performance of the Fund with the benchmark. The daily amounts are added and, if positive, will be paid from the Funds at the end of each month where the return on the Funds has also been positive. The effort of positive performance fees in respect of Class B Units will be included in Unit price calculations.
|
|
| Service fees |
|
Switching fee
The fee for changing investment options |
|
Nil |
|
Not applicable, subject to normal buy-sell spread |
|
| Buy-Sell Spread |
|
+/-0.38% |
|
This is not a fee paid to Prime Value, but a charge reflecting the costs of purchasing and selling Fund assets, including brokerage and government charges. The buy-sell spread will affect the investment return. |
