FEES 4 Annex 4 1Periodic fees in relation to collective investment schemes payable for the period 1 April 92012 to 31 March 201398
1Part 1 - Periodic fees payable
Scheme type |
Basic fee (£) |
Total funds/sub-funds aggregate |
Fund factor |
Fee (£) |
ICVC, AUT,Section 264 of the Act Section 270 of the Act |
5809 24689 |
1-2 3-6 7-15 16-50 >50 |
1 2.5 5 11 22 |
12,7609 23623623623623678888899999 |
Section 272 of the Act |
2,3609 24789 |
1-2 3-6 7-15 16-50 >50 |
1 2.5 5 11 22 |
2,3609 5,9009 11,8009 25,9609 51,9209 2362323623623678888899999 |
Fees are charged according to the number of funds or sub-funds 5operated by a firm as at 31 March 20129.83 Where a new collective investment scheme becomes authorised during a year, fees are charged according to the number of funds or sub-funds 5operated by a firm as at the date of authorisation. Where more than one fund or sub-fund 5is operated,5 the number of funds (not including the umbrella 5or parent fund) produces a 'fund factor' in accordance with the table above,5 which is then applied to a basic fee to produce one total fee per operator 5. Fund factors are applied per operator 5rather than per scheme 5so that the fees relate to the number of funds rather than the number of schemes5. This means that, for example, an authorised fund manager5 of three schemes 5pays the same as an operator 5or authorised fund manager 5of one scheme 5with three sub-funds 5(as only the sub-funds 5are counted).
Schemes5 set up under section 264 of the Act are charged according to the number of funds or sub-funds 5which a firm is operating and marketing into the UK as at 31 March immediately before the start of the period to which the fee applies. For example, for 2010/117fees a reference to 31 March means 31 March 2010.7
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