Assumptions
Fee model
Each year compounds on the previous year-end value. The High Water Mark carries forward, so the performance fee is charged only on gains above the highest prior value plus the hurdle.
Default assumptions change with the selected fee model (Fixed, Hybrid, Variable or Multi-year Hybrid),
following the APMI illustration. Management fee is charged on the average AUM (net of brokerage).
Performance fee applies only if the gross portfolio value exceeds the High Water Mark plus the hurdle rate.
First-year High Water Mark is assumed to be the capital invested.
Multi-year fee illustration
Each year compounds on the prior year-end value; the High Water Mark carries forward so the performance fee applies only above the highest prior value plus the hurdle.
All fees and charges are exclusive of, and subject to, GST. Returns are assumed to be generated linearly through the year. "Other Expenses" includes
account opening charges, stamp duty, audit fee, bank charges, fund accounting, custody and demat charges or other miscellaneous expenses.
Brokerage and transaction costs are charged on actual trades; here they are illustrated on average AUM.
Fee Illustration: One Year
Three Scenarios On Your Capital:
Gain +20%
Loss -20%
No change
All fees and charges are exclusive of, and subject to, GST. Returns are assumed to be generated linearly through the year. "Other Expenses" includes
account opening charges, stamp duty, audit fee, bank charges, fund accounting, custody and demat charges or other miscellaneous expenses.
Brokerage and transaction costs are charged on actual trades; here they are illustrated on average AUM.
Hybrid Fee Illustration: One Year
Three Scenarios On Your Capital:
Gain +20%
Loss -20%
No change
All fees and charges are exclusive of, and subject to, GST. Returns are assumed to be generated linearly through the year. "Other Expenses" includes
account opening charges, stamp duty, audit fee, bank charges, fund accounting, custody and demat charges or other miscellaneous expenses.
Brokerage and transaction costs are charged on actual trades; here they are illustrated on average AUM.
Variable Fee Illustration: One Year
Three Scenarios On Your Capital:
Gain +20%
Loss -20%
No change
All fees and charges are exclusive of, and subject to, GST. Returns are assumed to be generated linearly through the year. "Other Expenses" includes
account opening charges, stamp duty, audit fee, bank charges, fund accounting, custody and demat charges or other miscellaneous expenses.
Brokerage and transaction costs are charged on actual trades; here they are illustrated on average AUM.
Notes & related links
- This calculator is an illustration based on the APMI standardised methodology and does not constitute a fee quote. Actual fees, frequency of charging and hurdle terms are as defined in your PMS agreement.
- See the PMS Disclosure Document for the applicable fee schedule.
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PMS Investor Charter