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FEES 4 Annex 4 Periodic fees in relation to collective investment schemes, recognised schemes, AIFs marketed in the UK, small registered UK AIFMs and money market funds payable for the period 1 April 2024 to 31 March 20251910161516181920212425

R

1Part 1 - Periodic fees payable

Scheme type

Basic fee (£)

Total funds/sub-funds aggregate

Fund factor

Fee (£)

ICVC18,

AUT18,

ACS18,

LTIFs22,

Money market funds with effect from 21 July 201821,

schemes recognised under section 271A of the Act29

22

111716161215121616

80.00289

27262324252019181624689151516

1-2

3-6

7-15

16-50

>50

1

2.5

5

11

22

80.0028

200.0028

400.0028

880.0028

1,760.00289999

272623242523242726252324272625232427262523242726252020202020191919191918181818181616161616236236236236236788888999991010101010151615151515

non-UK AIFs22 recognised under section 272 of the Act18

121215

320.0028

27262324252019247891015161618

1-2

3-6

7-15

16-50

>50

1

2.5

5

11

22

320.0028

800.0028

1,600.0028

3,520.0028

7,040.0028

272627262726272627262324252324252324252324252324252020202020191919191923623236236236788888999991010101010151516161516161516161516161516161818181818

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).

Umbrellas recognised under sections 271A or 272 of the Act are charged according to the number of sub-funds which are recognised under section 271A or 272 of the Act (subject to the note below) as at 31 March immediately before the start of the period to which the fee applies. For example, for 2024/25 fees, a reference to 31 March means 31 March 2024.

In the event that an umbrella were to have both sub-funds that are recognised under section 271A of the Act and sub-funds that remain recognised under regulation 62 of the Collective Investment Schemes (Amendment etc.) (EU Exit) Regulations 2019 for the time being, the calculation of the periodic fees charged to the umbrella will take into account all of those sub-funds. For the avoidance of doubt, in this scenario only one fee will be payable for both FEES 4 Annex 4R Part 1 and FEES 4A Annex 2R Part 1 purposes. 29

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

523589141455555555555555555537737

13Kind of notification

Fee per AIF (£)

Notification under regulation 57 of the AIFMD UK regulation

39728

19182023242526

Notification under regulation 58 of the AIFMD UK regulation

27728

19182023242526

Notification under regulation 59 of the AIFMD UK regulation

39728

19182023242526

Part 3 - Periodic fees paid by small registered UK AIFMs13

13The annual fee for small registered UK AIFMs is £78128

26252423201819