Management fees are based upon a percentage of the assets under management and are paid pro-rata in January, May, and September. Fees are paid in advance at the beginning of each billing period, and are assessed based upon the account asset value(s) on the last business day of the previous billing period. When an account is established, the management fee is charged for the remainder of the current billing period and is based upon the initial contributions. Some transaction fees are passed on to our clients and could be higher in the first year as our strategy is implemented.
The ongoing management fees* based upon assets are as follows: