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Current navra fund fees

Discussion in 'Managed Funds & Index Funds' started by dkmc, 16th Jul, 2007.

  1. dkmc

    dkmc Well-Known Member

    24th Aug, 2005
    Im trying to work out what the current fees are for the retail fund

    Welcome to NavraInvest Limited - Funds Management

    based on this
    there is an MER of 1.5375% per annum
    Ongoing administration costs Up to 0.3075% pa of the net asset value of the Fund
    Is this in addition to the MER

    isnt administration a management expense

    buy sell spread of 0.3%?

    and a performance fee?????
    Under the Constitution of the Fund, NavraInvest is entitled to charge either a management fee or a performance fee (but not both) and has elected to charge the performance fee.
    but we are being charged the management fee now

    So is there a performance fee?
    so all up its over 2%

    Does anyone use an advisor to rebate the 0.44% trails
    or use something like investsmart
  2. Simon Hampel

    Simon Hampel Co-founder Staff Member

    9th Jun, 2005
    Sydney, Australia
    Administration covers the non-NavraInvest (ie third-party) expenses for running the fund - bank fees, transaction fees, etc., as opposed to the MER, which is a fee for managing the fund. Many (not all) funds charge both a management fee and an administration fee.

    Note that the Administration fee is not a flat fee, it's a maximum fee - they will charge the lesser of the administration fee and the ACTUAL administration costs. So the actual fee charged could be somewhat less than the quoted figure.

    You only get charged the buy-sell spread when you buy and sell. If you buy and hold for 5 years before selling, those fees should be apportioned over that holding period to calculate how much they have actually cost you per year.

    As of 1st July 2007, there is no performance fee - only a flat management fee. There is a typo on the website - the note should read "has elected to charge the management fee". You should go by the PDS, not the website.

    Most people investing directly in the retail fund not using an advisor will likely use something like InvestSmart to avoid the upfront fees. Not sure how much (if any) of the trails they rebate ... I know Neville Ward Direct used to rebate some of the trails as well.