“We strongly believe that fund performance is the only true measure of a fund manager’s success and thus fund out-performance should be rewarded, rather than simply accumulating funds under management. We focus upon achieving absolute returns in all market conditions and have thus structured our fees to reflect this.” Roger Collison, Chairman
DMXAM receives a competitive annual 1% management fee from the funds it manages, and receives a 15% performance fee on all returns above BBSW (http://www.afma.com.au/data/BBSW).
The performance fee is to be calculated annually on 30th June of each year, and accrues on a monthly basis. As shares will be issued at various times throughout the period, the performance fee will be calculated with reference to the weighted average number of shares on issue for the period, as calculated at 30th June. The performance fee is also payable pro-rata on any shares redeemed at the end of the relevant month. The performance fee high watermark is calculated at the end of the financial year and will remain at that level until the next end of financial year's performance exceeds it.
There are no entry and exit fees beyond the buy and sell spread of 0.25% used to cover the cost of brokerage for investors who are selling their shares through the fund's buy-back facility.