Fees and charges – discretionary service
 
 
 

McInroy & Wood fees

Our management fees are the only income the firm receives. These are calculated on an ad valorem basis as a percentage of the portfolio’s value. The firm does not levy any other costs such as transaction fees, front-end, exit, or performance fees. Our fees are shown below for each management format:

 

  Segregated Format
(% per annum)
Pooled Format
(% per annum)
Discretionary management fee  1.00  0.20
Fund management fee (charged within MW funds)  –  1.00
VAT (where applicable at current rate of 20%) 0.20 0.04
Total McInroy & Wood charges (including VAT) 1.20 1.24

The discretionary management fee shown above is levied quarterly, based on the aggregate value of the client’s portfolio at the quarter end. There are no additional fees for the management of ISA or AIM portfolios. Our fees are inclusive, and cover all custody, administration, compliance and bank charges. 

 

Third party charges (from which the firm receives no benefit)

 

  Segregated Format
(% per annum)

Pooled Format
(% per annum)
Estimated brokerage costs1   0.05  0.05
Additional expenses within MW funds   –  0.13 - 0.33
Total third party charges   0.05  0.18 - 0.38

1McInroy & Wood deals with a global network of brokers on behalf of clients. Brokers charge commission on transactions. Brokers’ commission charges are passed on to clients at cost without any additions. McInroy & Wood receives no income as a result of dealing on behalf of clients. On average, portfolio turnover might be c.20% per annum, at an average commission rate of 0.25%, resulting in a cost of c. 0.05% per annum.

2Unit trusts incur third-party expenses in relation to their management and administration. These include audit, fund accounting, trustee, safe custody, regulatory, transfer agency and legal costs. These costs are shared pro-rata by all unit holders in the MW funds in common with most other unit trusts. Details of the current ongoing charges for each MW fund can be found at Our funds. These vary from c. 0.13% per annum for the Income and Balanced Funds, to 0.33% per annum for the Emerging Markets Fund.

 

Illustrative total cost of investing

 

  Segregated Format
(% per annum)
Pooled Format
(% per annum)
Total fees and charges (McInroy & Wood and third party) including VAT, where applicable, at current rates   1.25  1.42 - 1.62

 

 
 

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