Enhanced disclosure of fund charges and expenses

Column name

Explanation

Fund or portfolio name

The name of the fund or portfolio

Share or unit class

The share or unit class of the fund or portfolio along with the currency and whether it is an income (Inc) or accumulation (Acc) share or unit class.

Fixed Ongoing Charge ¹ (%)

The annual fee paid to Quilter Investors to cover the fees and expenses relating to the management, operation, and administration of the fund or portfolio. The fee is a fixed percentage of the value of the share or unit class of each fund or portfolio. It includes the fee paid to an investment adviser (where applicable) and the ongoing costs of underlying investments (except the costs of investing in underlying closed-ended such as investment trusts).

The discount applied to the fixed ongoing charge of a fund or portfolio based on the total assets under management.

Underlying closed-ended fund charges (%)

The prorated ongoing costs of investing in underlying closed-ended funds. These costs represent the ongoing charge for the management of the underlying closed-ended funds and may vary over time.

Ongoing charge (%)

The total of the Fixed Ongoing Charge ¹ and the underlying closed-ended fund charges. The ongoing charge excludes transaction costs except in the case of an entry or exit charge paid by the fund or portfolio when buying or selling shares in another fund.

Incidental costs (%)

The incidental costs include performance fees or any similar costs. Quilter Investors does not currently have any funds or portfolios that charge a performance fee. However, where a fund or portfolio invests in a fund that charges a performance fee or carried interest (a share of the profits of a private equity fund or a hedge fund that are paid to the fund's manager) these costs are shown here.

Transaction costs (%)

The costs associated with buying and selling the assets (securities) in a fund or portfolio over the previous 12 months and may vary depending on the types of investment in which a fund or portfolio invests. These costs include two types of transaction costs:

1. Explicit costs – broker commissions, stamp duty, and other taxes paid directly by the fund or portfolio.
2. Implicit costs – the difference between an asset price at the point that a trade was instructed, and the price achieved when the trade is executed.