There are a number of costs associated with managing a fund which are not always clear to the fund investor. We have tried to make the fund costs as transparent as possible by paying the ongoing fund costs from our management fee since launch. This means that our annual management charge is the same as our ongoing charges figure.
We have three share classes with tiered ongoing charges figures to reflect amounts invested.
A share class 1.0% on the first £5M invested
B share class 0.8% on £5M-10M invested
C share class 0.6% on amounts over £10M
We publish all transaction costs paid from the fund at the end of each calendar year in our final quarterly investor letter.