You'll be charged fees for investing in AMP Managed Funds. Fees are deducted from your investment and will reduce your returns. If AMP invests in other funds, those funds may also charge fees. The fees you pay will be charged as a regular charge (for example, annual fund charges). Small differences in these fees can have a big impact on your investment over the long term. The fees for the funds offered in AMP Managed Funds are as follows:
* Percentage of net asset value of the Fund.
Matt invests $10,000 in the AMP Growth Managed Fund. The starting value of his investment is $10,000. He is charged annual fund charges, which work out to about $80.00 (0.80% of $10,000). These fees will be more or less if his account balance has increased or decreased over the year.
Estimated total fees for the first year:
Individual action fees: $Nil
Fund charges: $80.00
Other charges: $Nil
This example applies only to the AMP Growth Managed Fund. If you're considering investing in other funds in AMP Managed Funds, this example may not be representative of the actual fees you may be charged.
The annual fund charges outlined above are the fees charged by AMP.
The Management fee is used to pay for the general administration costs of the funds and the investment management services, including those of the underlying fund managers. These charges are deducted from, and reflected in the unit price of, the funds concerned.
The costs and expenses component of annual fund charges includes the costs and expenses charged by the underlying funds. These include the Trustee's^ fee, custody, accounting, audit, and regulatory compliance costs. These charges are estimated. Costs and expenses are not charged to the funds. Instead, the costs and expenses are charged to the underlying funds that the funds invest in. This charge is then reflected in the unit price of the funds.
^Trustee means The New Zealand Guardian Trust Company Limited, which is the trustee of the underlying funds.
All fees are disclosed on a before-tax basis. GST will be added to fees and may be included in expenses, where applicable. See the ‘AMP Managed Funds - Fees and other charges’ document for more information.