ASSET WISE

Payable by Investors  

·         Subscription, Top-up or Redemption Fee:
o In USD or SGD or Acceptable Listed Stocks: USD 0 plus Bank Charges
o In other currencies: USD 70 plus Bank Charges

·         New Investor Fee:
o USD 140 for each new account (subject to maximum of 2 investors in the account). The 3rd and subsequent investor in the account will be charged additional USD 65 per investor.
o Corporate investor will be charged USD140 per account.

These fees are paid to the Fund for each Subscription/ Top-up or Redemption.

This fee is to cover the cost charged by the Administrator, Trustee and the bank to transfer from the fund’s bank account to the fund’s brokerage account.

The investors will bear their individual bank’s charges to the fund’s bank account for subscription or top-up.

The investors will also bear their individual the bank’s charges from the fund’s bank account to the investor’s bank account during redemption.

The New Investor Fees are paid to the Fund one-off only during Initial Subscription. This fee is to cover the fees charged by Trustee on additional work on risk assessment due to new ruling by MAS.

These fees may be changed from time to time and it will be reflected in the fees charged to the investors.


Payable by Fund

·         Annual Management Fee: None.

·        Ongoing Annual Operating Cost of the Fund (total around 0.23% a year, with the breakdown as below):    
– Annual Trustee Fee (plus Disbursements): USD 13,500 (estimated)      
– Charged by the Fund Administrator:
             o      Fund Administration Fee (subject to minimum of USD 24,000 per annum):
        – Up to USD 50 million : 0.055% per year
        – From USD 50 – 100 million : 0.040% per year
        – Above 100 million : 0.035% per year
             o      CRS/ FATCA Reporting Fee: USD 3,500 + USD 50 per investor in excess of 50 accounts per year

·        Annual Audit Fee: USD 9,000 (estimated)

·         Performance Fee (including the basis of computation and hurdle rate):
– Elite: 14% of the returns in excess of the High Water Mark plus Hurdle Rate.
– Ordinary: 18% of the returns in excess of the High Water Mark plus Hurdle Rate.

“High Water Mark” is defined as the higher of
a) Initial Offer Price,
b) adjusted highest Net Asset Value per Unit of such Class on which a Performance Fee was paid on the last day of any previous Calculation Period;
c) the previous month’s High Water Mark plus Hurdle Rate

“Hurdle Rate” is 6% annualised, calculated monthly
(which is 1.06 1/12 – 1).
o Crystallisation Frequency of Performance Fee: Monthly.
o Equalisation method used for Performance Fee: Share adjustment method (for investors who subscribed/ top up into the fund when the NAV is below its High Water Mark).

·          Any other fees payable by the Fund that constitute 0.1% or more of the Fund’s net asset value:
– Interest expense from Margin, which fluctuates depending on the leverage the manager used.
– Commissions/fees paid to brokers in effecting dealings in the Fund’s investments.