FEES 4 Annex 4 19101615Periodic fees in relation to collective investment schemes, AIFs marketed in the UK and small registered UK AIFMs payable for the period 1 April 2015 to 31 March 201616
1Part 1 - Periodic fees payable
Scheme type |
Basic fee (£) |
Total funds/sub-funds aggregate |
Fund factor |
Fee (£) |
ICVC, AUT, ACS,11 Section 264 of the Act, schemes other than non-EEA AIFs recognised under section 272 of the Act,16 161612151216 |
24689151516 | 1-2 3-6 7-15 16-50 >50 |
1 2.5 5 11 22 |
59516 1,48816 2,97516 6,54516 236236236236236788888999991010101010151615151515 |
Non-EEA AIFs recognised under section 272 of the Act ,12 1215 |
2,42016 24789101516 |
1-2 3-6 7-15 16-50 >50 |
1 2.5 5 11 22 |
2,42016 6,05016 12,10016 26,62016 53,24016 236232362362367888889999910101010101515161516151615161516 |
Fees are charged according to the number of funds or sub-funds 5operated by a firm as at 31 March preceding the relevant fee year14.83 Where a new collective investment scheme becomes authorised during a fee year14, 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
Part 2 - Periodic fees for AIFs marketed in the UK, following a notification to the FCA under regulation 57, 58 or 59 of the AIFMD UK regulation13
5235891414555555555555555537313Kind of notification |
Fee per AIF (£) |
Notification under regulation 57 of the AIFMD UK regulation |
500 |
Notification under regulation 58 of the AIFMD UK regulation |
350 |
Notification under regulation 59 of the AIFMD UK regulation |
500 |
Part 3 - Periodic fees paid by small registered UK AIFMs13
13The annual fee for small registered UK AIFMs is £750 |